Vita Coco (COCO) Scheduled to Post Quarterly Earnings on Wednesday

Vita Coco (NASDAQ:COCO - Get Free Report) will be announcing its earnings results before the market opens on Wednesday, October 30th. Analysts expect the company to announce earnings of $0.27 per share for the quarter. Vita Coco has set its FY 2024 guidance at EPS.Investors interested in registering for the company's conference call can do so using this link.

Vita Coco (NASDAQ:COCO - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.01. The company had revenue of $144.00 million during the quarter, compared to analyst estimates of $144.08 million. Vita Coco had a net margin of 11.05% and a return on equity of 26.42%. The firm's revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.26 earnings per share. 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 Price Performance

NASDAQ COCO traded down $0.72 during trading on Wednesday, reaching $29.14. 194,537 shares of the company's stock traded hands, compared to its average volume of 614,318. The company's 50 day simple moving average is $27.31 and its two-hundred day simple moving average is $26.88. Vita Coco has a 12-month low of $19.41 and a 12-month high of $31.42. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 31.67, a price-to-earnings-growth ratio of 2.24 and a beta of 0.23.

Insider Buying and Selling

In other Vita Coco news, COO Jonathan Burth sold 2,244 shares of the firm's stock in a transaction on Monday, September 30th. The shares were sold at an average price of $30.01, for a total value of $67,342.44. Following the completion of the transaction, the chief operating officer now owns 124,605 shares of the company's stock, valued at approximately $3,739,396.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 34.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on COCO. Piper Sandler cut Vita Coco from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $29.00 to $28.00 in a research report on Friday, July 12th. Wells Fargo & Company boosted their target price on shares of Vita Coco from $30.00 to $33.00 and gave the stock an "overweight" rating in a report on Wednesday, July 10th. Jefferies Financial Group lowered their price target on shares of Vita Coco from $35.00 to $31.00 and set a "buy" rating on the stock in a report on Wednesday, July 24th. Finally, Bank of America boosted their price objective on shares of Vita Coco from $27.00 to $30.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $30.17.

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.