GoPro (GPRO) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

GoPro (NASDAQ:GPRO) posted its earnings results on Thursday. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.02, reports. GoPro had a negative return on equity of 47.64% and a negative net margin of 13.47%. The firm had revenue of $286.00 million for the quarter, compared to analyst estimates of $272.28 million. During the same quarter in the prior year, the company earned $0.15 EPS. GoPro’s revenue was down 13.3% on a year-over-year basis. GoPro updated its Q4 guidance to $0.21-0.31 EPS.

NASDAQ GPRO traded down $1.74 during trading hours on Friday, hitting $5.44. 26,482,030 shares of the company were exchanged, compared to its average volume of 4,328,580. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.49 and a quick ratio of 1.15. GoPro has a 52-week low of $4.42 and a 52-week high of $9.60. The company has a market cap of $936.09 million, a price-to-earnings ratio of -5.13 and a beta of 0.22.

In other GoPro news, CFO Brian Mcgee sold 5,452 shares of the company’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $5.86, for a total transaction of $31,948.72. Following the sale, the chief financial officer now owns 108,411 shares in the company, valued at approximately $635,288.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 26.61% of the stock is owned by corporate insiders.

Several equities analysts recently issued reports on the company. BidaskClub lowered GoPro from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. Morgan Stanley set a $5.00 target price on GoPro and gave the stock a “sell” rating in a research note on Monday. ValuEngine raised GoPro from a “sell” rating to a “hold” rating in a research note on Tuesday, October 23rd. Longbow Research reissued a “hold” rating on shares of GoPro in a research note on Friday, September 21st. Finally, JPMorgan Chase & Co. set a $7.00 target price on GoPro and gave the stock a “hold” rating in a research note on Tuesday, July 31st. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $7.05.

GoPro Company Profile

GoPro, Inc develops and sells cameras, and mountable and wearable accessories in the United States and internationally. The company offers HERO5 and HERO6, which are cloud-connected line of cameras; Fusion, a waterproof spherical camera; GoPro Plus, a cloud-based storage solution that enables subscribers to access, edit, and share content; Quik, a mobile editing app, as well as desktop app for editing options for power users; GoPro App, a mobile app that allows users to preview and play back photos and videos, control GoPro cameras, and share content; and Karma Grip, a handheld or body-mountable camera stabilizer that capture zero-shake smooth video.

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Earnings History for GoPro (NASDAQ:GPRO)

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