Zacks: Analysts Expect BEST Inc (BSTI) to Announce -$0.02 Earnings Per Share

Wall Street analysts expect that BEST Inc (NYSE:BSTI) will post ($0.02) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for BEST’s earnings, with the highest EPS estimate coming in at ($0.01) and the lowest estimate coming in at ($0.03). The company is expected to issue its next earnings results on Monday, January 1st.

On average, analysts expect that BEST will report full-year earnings of ($0.15) per share for the current year, with EPS estimates ranging from ($0.23) to ($0.09). For the next fiscal year, analysts expect that the firm will post earnings of $0.24 per share, with EPS estimates ranging from $0.08 to $0.40. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover BEST.

BEST (NYSE:BSTI) last posted its quarterly earnings data on Wednesday, August 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.01. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.12 billion.

Several research analysts have recently issued reports on BSTI shares. Zacks Investment Research cut shares of BEST from a “hold” rating to a “sell” rating in a report on Monday, August 20th. KeyCorp reduced their target price on shares of BEST from $14.00 to $13.00 and set a “buy” rating for the company in a report on Thursday, July 19th. JPMorgan Chase & Co. raised their target price on shares of BEST from $13.50 to $14.80 and gave the stock an “overweight” rating in a report on Wednesday, June 13th. Macquarie cut shares of BEST from an “outperform” rating to a “neutral” rating in a report on Wednesday, June 13th. Finally, Citigroup upgraded shares of BEST from a “neutral” rating to a “buy” rating in a report on Friday, May 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $12.80.

A number of large investors have recently modified their holdings of the stock. California Public Employees Retirement System boosted its holdings in BEST by 243.5% during the second quarter. California Public Employees Retirement System now owns 217,235 shares of the company’s stock worth $2,655,000 after buying an additional 153,991 shares in the last quarter. Zurich Insurance Group Ltd FI boosted its stake in BEST by 21.6% in the 2nd quarter. Zurich Insurance Group Ltd FI now owns 278,618 shares of the company’s stock worth $3,405,000 after purchasing an additional 49,553 shares during the period. Bank of America Corp DE boosted its stake in BEST by 28.9% in the 2nd quarter. Bank of America Corp DE now owns 803,036 shares of the company’s stock worth $9,813,000 after purchasing an additional 179,961 shares during the period. Indus Capital Partners LLC acquired a new position in BEST in the 2nd quarter worth approximately $7,528,000. Finally, OppenheimerFunds Inc. acquired a new position in BEST in the 2nd quarter worth approximately $87,381,000. Hedge funds and other institutional investors own 18.54% of the company’s stock.

Shares of BEST stock traded down $0.35 on Wednesday, hitting $6.00. The company had a trading volume of 100,604 shares, compared to its average volume of 1,071,215. The stock has a market capitalization of $2.41 billion and a PE ratio of -4.75. BEST has a 52 week low of $6.22 and a 52 week high of $13.54.

BEST Company Profile

BEST Inc operates as a smart supply chain service provider in the People's Republic of China. Its proprietary technology platform enables its ecosystem participants to operate their businesses through various SaaS-based applications. The company applies its technologies to a range of applications, such as network and route optimization, swap bodies, sorting line automation, smart warehouses, and store management.

See Also: Intrinsic Value

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Earnings History and Estimates for BEST (NYSE:BSTI)

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