Reed’s (REED) Announces Quarterly Earnings Results
Reed’s (NYSEAMERICAN:REED) announced its earnings results on Tuesday. The consumer goods maker reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.03), Fidelity Earnings reports. The business had revenue of $8.45 million for the quarter, compared to the consensus estimate of $8.14 million. Reed’s updated its FY 2019 guidance to EPS.
NYSEAMERICAN:REED traded up $0.09 during mid-day trading on Wednesday, hitting $3.83. The stock had a trading volume of 683 shares, compared to its average volume of 194,138. Reed’s has a twelve month low of $1.90 and a twelve month high of $4.05.
Several analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Reed’s from a “hold” rating to a “sell” rating in a research report on Saturday, March 2nd. Roth Capital increased their price target on shares of Reed’s from $4.25 to $5.25 and gave the stock a “buy” rating in a research report on Tuesday, February 26th. Maxim Group reissued a “buy” rating and set a $4.00 price target on shares of Reed’s in a research report on Friday, February 15th. Lake Street Capital assumed coverage on shares of Reed’s in a research report on Friday, April 26th. They set a “buy” rating and a $6.00 price target on the stock. Finally, R. F. Lafferty assumed coverage on shares of Reed’s in a research report on Friday, May 10th. They set a “buy” rating and a $5.00 price target on the stock. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Reed’s presently has an average rating of “Buy” and a consensus target price of $5.06.
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Reed's, Inc develops, manufactures, markets, and sells natural hand-crafted beverages and candies in the United States, Canada, Asia, Europe, Australia, and South America. Its products include Reed's ginger beers; Virgil's root beer and cream sodas; Flying Cauldron Butterscotch Beer; and Sonoma Sparkler branded sparkling juices.
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