Overstock.com Inc (OSTK) to Post Q1 2019 Earnings of ($0.78) Per Share, DA Davidson Forecasts
Overstock.com Inc (NASDAQ:OSTK) – Research analysts at DA Davidson issued their Q1 2019 earnings estimates for Overstock.com in a research report issued to clients and investors on Wednesday, November 7th. DA Davidson analyst T. Forte anticipates that the company will post earnings per share of ($0.78) for the quarter. DA Davidson has a “Buy” rating and a $112.00 price objective on the stock. DA Davidson also issued estimates for Overstock.com’s Q2 2019 earnings at ($1.05) EPS, Q3 2019 earnings at ($0.10) EPS and Q4 2019 earnings at $0.16 EPS.
OSTK has been the subject of several other reports. GARP Research began coverage on shares of Overstock.com in a research report on Thursday, September 6th. They set a “neutral” rating for the company. BidaskClub downgraded shares of Overstock.com from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 11th. Maxim Group began coverage on shares of Overstock.com in a research report on Monday, September 17th. They set a “buy” rating and a $75.00 target price for the company. Finally, ValuEngine downgraded shares of Overstock.com from a “buy” rating to a “hold” rating in a research report on Friday, September 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $75.00.
Overstock.com (NASDAQ:OSTK) last posted its earnings results on Thursday, November 8th. The company reported ($1.55) EPS for the quarter, missing the consensus estimate of ($0.86) by ($0.69). The business had revenue of $440.60 million for the quarter, compared to the consensus estimate of $443.13 million. Overstock.com had a negative return on equity of 95.14% and a negative net margin of 11.74%. The company’s revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.03) earnings per share.
In related news, SVP Carter Paul Lee sold 2,000 shares of the business’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $31.05, for a total transaction of $62,100.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Patrick Byrne sold 774,303 shares of the business’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $25.83, for a total transaction of $20,000,246.49. Following the transaction, the chief executive officer now owns 1,050,023 shares in the company, valued at $27,122,094.09. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 927,102 shares of company stock worth $23,964,391. 28.90% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. BlueMountain Capital Management LLC boosted its holdings in Overstock.com by 564.3% during the second quarter. BlueMountain Capital Management LLC now owns 23,143 shares of the company’s stock worth $779,000 after purchasing an additional 19,659 shares during the last quarter. Rhumbline Advisers boosted its holdings in Overstock.com by 19.1% during the second quarter. Rhumbline Advisers now owns 19,816 shares of the company’s stock worth $667,000 after purchasing an additional 3,175 shares during the last quarter. Verition Fund Management LLC purchased a new position in Overstock.com during the second quarter worth about $274,000. Seven Eight Capital LP purchased a new position in Overstock.com during the third quarter worth about $4,088,000. Finally, Wells Fargo & Company MN boosted its holdings in Overstock.com by 22.1% during the first quarter. Wells Fargo & Company MN now owns 37,616 shares of the company’s stock worth $1,364,000 after purchasing an additional 6,813 shares during the last quarter. Institutional investors and hedge funds own 57.17% of the company’s stock.
Overstock.com Company Profile
Overstock.com, Inc operates as an online retailer in the United States. It operates in two segments, Direct and Partner. The company offers home and garden products, including furniture, home decor, garden and patio, kitchen and dining, bedding, home improvement, housewares, and other related products; jewelry and watches; clothing and accessories; electronics and computers; artisan-crafted products; and other products.
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