FY2017 EPS Estimates for GoPro Inc Cut by Wedbush (GPRO)

GoPro Inc (NASDAQ:GPRO) – Analysts at Wedbush reduced their FY2017 earnings per share estimates for GoPro in a research report issued to clients and investors on Tuesday, according to Zacks Investment Research. Wedbush analyst A. Reese now forecasts that the company will post earnings of ($0.57) per share for the year, down from their prior estimate of ($0.27). Wedbush currently has a “Neutral” rating and a $6.00 target price on the stock. Wedbush also issued estimates for GoPro’s Q4 2017 earnings at $0.07 EPS, Q1 2018 earnings at ($0.35) EPS, Q2 2018 earnings at ($0.12) EPS, Q3 2018 earnings at ($0.03) EPS, Q4 2018 earnings at $0.00 EPS and FY2018 earnings at ($0.46) EPS.

GoPro (NASDAQ:GPRO) last posted its quarterly earnings data on Wednesday, November 1st. The company reported $0.09 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.14. GoPro had a negative return on equity of 15.90% and a negative net margin of 17.52%. The firm had revenue of $329.81 million for the quarter, compared to analyst estimates of $314.32 million.

A number of other equities analysts have also commented on GPRO. Bank of America lowered their price objective on GoPro from $6.50 to $5.50 and set an “underperform” rating on the stock in a research note on Friday. Citigroup decreased their price target on GoPro to $5.50 and set a “neutral” rating on the stock in a research note on Friday. JPMorgan Chase & Co. lowered GoPro from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $9.00 to $8.00 in a research note on Friday. Morgan Stanley lowered GoPro from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $9.50 to $5.00 in a research note on Tuesday, January 23rd. Finally, Longbow Research lowered GoPro from a “buy” rating to a “neutral” rating and lifted their price target for the company from $7.16 to $13.00 in a research note on Monday, January 8th. Eight equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a strong buy rating to the company. GoPro presently has an average rating of “Hold” and a consensus target price of $8.12.

GoPro (NASDAQ GPRO) traded up $0.05 during trading on Thursday, reaching $5.55. The company’s stock had a trading volume of 8,644,969 shares, compared to its average volume of 6,660,000. GoPro has a 12-month low of $5.04 and a 12-month high of $11.89. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.08 and a current ratio of 1.65. The company has a market cap of $810.07, a price-to-earnings ratio of -4.24 and a beta of 0.15.

In other GoPro news, CEO Nicholas Woodman sold 165,343 shares of GoPro stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $9.02, for a total transaction of $1,491,393.86. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Brian Mcgee sold 7,541 shares of GoPro stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $8.23, for a total value of $62,062.43. Following the transaction, the chief financial officer now directly owns 79,167 shares in the company, valued at $651,544.41. The disclosure for this sale can be found here. In the last three months, insiders have sold 189,907 shares of company stock worth $1,689,300. 28.58% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in GPRO. Fuller & Thaler Asset Management Inc. acquired a new position in GoPro during the 3rd quarter worth about $7,495,000. Vanguard Group Inc. lifted its holdings in GoPro by 6.7% during the 2nd quarter. Vanguard Group Inc. now owns 7,093,763 shares of the company’s stock worth $57,672,000 after buying an additional 444,109 shares during the period. Engineers Gate Manager LP lifted its holdings in GoPro by 1,970.7% during the 4th quarter. Engineers Gate Manager LP now owns 394,560 shares of the company’s stock worth $2,987,000 after buying an additional 375,506 shares during the period. Capital Fund Management S.A. raised its position in shares of GoPro by 338.7% in the 2nd quarter. Capital Fund Management S.A. now owns 456,870 shares of the company’s stock worth $3,714,000 after acquiring an additional 352,740 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of GoPro by 266.1% in the 2nd quarter. Wells Fargo & Company MN now owns 292,349 shares of the company’s stock worth $2,376,000 after acquiring an additional 212,486 shares in the last quarter. 26.42% of the stock is currently owned by hedge funds and other institutional investors.

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About GoPro

GoPro, Inc (GoPro) produces cameras and mountable and wearable accessories. The Company’s product offerings include HERO5, which is a line of cloud-connected cameras featuring image stabilization, telemetry, cloud connectivity and voice control; GoPro Plus, which is a cloud-based storage solution that enables subscribers to access, edit and share content; Quik, which is a mobile editing application that creates edits on a smartphone; Capture, which is a mobile application that allows users to preview and play back shots, control their GoPro cameras and share content on the fly using their smartphones; Karma, which is its compact and foldable drone and versatile stabilization solution that includes the Karma controller, and camera stabilizer, and it all fits in a custom backpack, and Karma Grip, which is a handheld, body-mountable camera stabilizer.

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