Overstock.com, Inc. (OSTK) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS
Overstock.com, Inc. (NASDAQ:OSTK) posted its quarterly earnings data on Wednesday. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.06, Briefing.com reports. Overstock.com had a negative net margin of 0.73% and a negative return on equity of 6.36%. The firm had revenue of $424.00 million for the quarter, compared to the consensus estimate of $452.60 million. The business’s revenue for the quarter was down 4.0% on a year-over-year basis.
Overstock.com (OSTK) traded up $0.75 on Friday, hitting $53.15. 6,601,694 shares of the stock traded hands, compared to its average volume of 553,268. Overstock.com has a 12-month low of $13.75 and a 12-month high of $56.10. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.76 and a current ratio of 0.84.
In other news, insider Jonathan E. Johnson III sold 4,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $30.10, for a total transaction of $120,400.00. Following the transaction, the insider now owns 48,092 shares in the company, valued at $1,447,569.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jonathan E. Johnson III sold 17,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $25.00, for a total value of $437,500.00. Following the completion of the sale, the insider now owns 52,092 shares in the company, valued at approximately $1,302,300. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,000 shares of company stock worth $778,250. Corporate insiders own 28.90% of the company’s stock.
Several equities analysts have recently issued reports on the stock. DA Davidson upped their price objective on shares of Overstock.com from $57.00 to $87.00 and gave the company a “buy” rating in a report on Thursday. They noted that the move was a valuation call. BidaskClub upgraded shares of Overstock.com from a “hold” rating to a “buy” rating in a report on Saturday, August 12th.
Overstock.com Company Profile
Overstock.com, Inc is an online retailer and incubator of blockchain technology. Through its online retail business, the Company offers a range of price-competitive brand name, non-brand name and closeout products, including furniture, home decor, bedding and bath, housewares, jewelry and watches, apparel and designer accessories, health and beauty products, electronics and computers, and sporting goods.
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