Brokerages expect Retail Opportunity Investments Corp (NASDAQ:ROIC) to report $72.90 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Retail Opportunity Investments’ earnings. The highest sales estimate is $73.27 million and the lowest is $72.63 million. Retail Opportunity Investments posted sales of $65.90 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 10.6%. The company is scheduled to announce its next quarterly earnings results on Wednesday, April 25th.
According to Zacks, analysts expect that Retail Opportunity Investments will report full-year sales of $72.90 million for the current fiscal year, with estimates ranging from $290.95 million to $309.54 million. For the next fiscal year, analysts forecast that the company will post sales of $327.40 million per share, with estimates ranging from $310.62 million to $340.73 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Retail Opportunity Investments.
Retail Opportunity Investments (NASDAQ:ROIC) last posted its quarterly earnings results on Wednesday, February 21st. The real estate investment trust reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.01. The business had revenue of $72.75 million during the quarter, compared to the consensus estimate of $71.07 million. Retail Opportunity Investments had a net margin of 14.13% and a return on equity of 2.86%. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.27 earnings per share.
ROIC has been the subject of several recent research reports. Zacks Investment Research downgraded shares of Retail Opportunity Investments from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. BidaskClub downgraded shares of Retail Opportunity Investments from a “hold” rating to a “sell” rating in a research note on Saturday, January 13th. Capital One Financial reissued an “overweight” rating on shares of Retail Opportunity Investments in a research note on Monday, February 12th. Royal Bank of Canada reissued a “buy” rating and issued a $22.00 price target on shares of Retail Opportunity Investments in a research note on Monday, October 30th. Finally, Citigroup lowered their price target on shares of Retail Opportunity Investments from $20.50 to $20.00 and set a “neutral” rating for the company in a research note on Monday, October 30th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. Retail Opportunity Investments has a consensus rating of “Hold” and a consensus target price of $22.00.
Large investors have recently modified their holdings of the company. FDx Advisors Inc. bought a new position in shares of Retail Opportunity Investments during the fourth quarter valued at about $221,000. Xact Kapitalforvaltning AB purchased a new position in shares of Retail Opportunity Investments during the fourth quarter valued at about $227,000. Elkfork Partners LLC purchased a new position in shares of Retail Opportunity Investments during the fourth quarter valued at about $254,000. Cubist Systematic Strategies LLC purchased a new position in shares of Retail Opportunity Investments during the second quarter valued at about $259,000. Finally, Eaton Vance Management purchased a new position in shares of Retail Opportunity Investments during the fourth quarter valued at about $267,000. 98.18% of the stock is owned by hedge funds and other institutional investors.
Retail Opportunity Investments (NASDAQ:ROIC) traded down $0.07 during trading on Monday, reaching $17.62. 1,389,600 shares of the company’s stock traded hands, compared to its average volume of 1,115,830. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.64 and a quick ratio of 1.64. The company has a market capitalization of $1,941.13, a P/E ratio of 51.82, a PEG ratio of 2.17 and a beta of 0.58. Retail Opportunity Investments has a 1-year low of $16.21 and a 1-year high of $22.37.
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Retail Opportunity Investments Company Profile
Retail Opportunity Investments Corp. (ROIC) is a fully integrated, self-managed real estate investment trust (REIT). The Company specializes in the acquisition, ownership and management of necessity-based community and neighborhood shopping centers on the west coast of the United States, anchored by supermarkets and drugstores.
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