Vita Coco (COCO) Set to Announce Quarterly Earnings on Wednesday

Vita Coco (NASDAQ:COCO) is scheduled to announce its earnings results before the market opens on Wednesday, May 1st. Analysts expect the company to announce earnings of $0.19 per share for the quarter. Vita Coco has set its FY 2024 guidance at EPS.Investors interested in participating in the company’s conference call can do so using this link.

Vita Coco (NASDAQ:COCO) last announced its earnings results on Wednesday, February 28th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. Vita Coco had a return on equity of 24.27% and a net margin of 9.45%. The business had revenue of $106.10 million for the quarter, compared to analyst estimates of $99.63 million. During the same period in the prior year, the company earned $0.04 EPS. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. On average, analysts expect Vita Coco to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Vita Coco Trading Up 1.4 %

Shares of NASDAQ COCO opened at $25.09 on Tuesday. The business has a 50-day moving average of $24.40 and a 200-day moving average of $25.02. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 31.36, a PEG ratio of 1.98 and a beta of 0.16. Vita Coco has a 12 month low of $19.41 and a 12 month high of $33.29.

Insider Activity at Vita Coco

In other news, Director Ira Liran sold 6,915 shares of Vita Coco stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $25.00, for a total transaction of $172,875.00. Following the sale, the director now owns 985,729 shares of the company’s stock, valued at approximately $24,643,225. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Ira Liran sold 6,915 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $25.00, for a total value of $172,875.00. Following the completion of the transaction, the director now owns 985,729 shares in the company, valued at approximately $24,643,225. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Michael Kirban sold 6,900 shares of Vita Coco stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $25.00, for a total value of $172,500.00. Following the sale, the chairman now owns 633,448 shares in the company, valued at $15,836,200. The disclosure for this sale can be found here. Insiders sold a total of 52,353 shares of company stock worth $1,309,536 over the last quarter. 51.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on COCO shares. TheStreet cut shares of Vita Coco from a “b-” rating to a “c+” rating in a research report on Monday, January 22nd. The Goldman Sachs Group dropped their price target on Vita Coco from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, January 30th. Stephens raised Vita Coco from an “equal weight” rating to an “overweight” rating and set a $31.00 price objective on the stock in a report on Thursday, February 29th. Piper Sandler increased their price target on shares of Vita Coco from $24.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Finally, William Blair lowered shares of Vita Coco from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $29.71.

Vita Coco Company Profile

The Vita Coco Company, Inc develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, Africa, and the Asia Pacific. The company offers coconut oil and coconut milk; juice; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.