INNOVATE (NYSE:VATE) Releases Earnings Results

INNOVATE (NYSE:VATE) issued its quarterly earnings results on Wednesday. The company reported ($0.71) earnings per share (EPS) for the quarter, Zacks reports. The company had revenue of $347.10 million for the quarter.

INNOVATE Stock Down 2.0%

Shares of NYSE VATE traded down $0.11 during midday trading on Wednesday, hitting $5.39. The stock had a trading volume of 41,778 shares, compared to its average volume of 207,544. The business’s 50 day moving average is $5.01 and its 200-day moving average is $5.42. INNOVATE has a 52 week low of $3.78 and a 52 week high of $13.79. The company has a market cap of $71.88 million, a P/E ratio of -0.89 and a beta of 1.88.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of INNOVATE in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, INNOVATE presently has an average rating of “Sell”.

INNOVATE Company Profile

INNOVATE Corp., through its subsidiaries, operates in infrastructure, life sciences, and spectrum areas in the United States. The Infrastructure segment provides industrial construction, structural steel, and facility maintenance services, such as fabrication and erection of structural steel and heavy steel plate services, and large-diameter water pipes and water storage tanks; fabrication of trusses and girders; and 3-D building information modeling and detailing for commercial, industrial, and infrastructure construction projects, such as buildings and office complexes, hotels and casinos, convention centers, sports arenas and stadiums, shopping malls, hospitals, dams, bridges, mines, metal processing, refineries, pulp and paper mills, and power plants.