Oatly Group (NASDAQ:OTLY – Get Rating) released its quarterly earnings results on Wednesday. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.07), Briefing.com reports. The business had revenue of $195.10 million during the quarter, compared to analysts’ expectations of $181.07 million. Oatly Group had a negative net margin of 48.68% and a negative return on equity of 32.36%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.13) EPS. Oatly Group updated its FY 2023 guidance to EPS.
Oatly Group Stock Performance
Shares of OTLY opened at $2.17 on Friday. The company has a 50-day simple moving average of $2.33 and a 200-day simple moving average of $2.24. The company has a quick ratio of 1.18, a current ratio of 1.56 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $1.28 billion, a PE ratio of -3.74 and a beta of 0.78. Oatly Group has a 52-week low of $1.28 and a 52-week high of $5.80.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on OTLY shares. Credit Suisse Group restated a “neutral” rating and set a $3.30 price objective on shares of Oatly Group in a research report on Thursday. Royal Bank of Canada restated an “outperform” rating and set a $7.00 price objective on shares of Oatly Group in a research report on Monday. Cowen cut their price objective on shares of Oatly Group from $5.00 to $3.00 in a research report on Monday, November 21st. Piper Sandler upped their price objective on shares of Oatly Group from $3.00 to $4.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 10th. Finally, Cowen cut their price objective on shares of Oatly Group from $5.00 to $3.00 in a research report on Monday, November 21st.
Hedge Funds Weigh In On Oatly Group
About Oatly Group
Oatly Group AB, an oatmilk company, provides a range of plant-based dairy products made from oats in Sweden. It offers Barista edition oatmilk, oatgurts, frozen desserts, ice-creams, and yogurts; ready-to-go drinks, such as cold brew latte, mocha latte, matcha latte, and mini oat drink in original and chocolate flavors; and cooking products, including Cooking Cream, in regular and organic, Crème Fraiche, Whipping Cream, Vanilla Custard and Spreads in a variety of flavors.
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