Analysts Anticipate Workhorse Group Inc. (NASDAQ:WKHS) Will Announce Earnings of -$0.20 Per Share

Brokerages expect that Workhorse Group Inc. (NASDAQ:WKHS) will announce earnings of ($0.20) per share for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Workhorse Group’s earnings. The highest EPS estimate is ($0.09) and the lowest is ($0.29). Workhorse Group reported earnings per share of ($0.78) in the same quarter last year, which suggests a positive year-over-year growth rate of 74.4%. The firm is expected to announce its next quarterly earnings results on Monday, November 8th.

According to Zacks, analysts expect that Workhorse Group will report full-year earnings of ($1.73) per share for the current year, with EPS estimates ranging from ($1.88) to ($1.58). For the next year, analysts anticipate that the firm will report earnings of ($0.54) per share, with EPS estimates ranging from ($0.72) to ($0.29). Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Workhorse Group.

Workhorse Group (NASDAQ:WKHS) last issued its earnings results on Monday, August 9th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.16). The firm had revenue of $1.20 million during the quarter, compared to the consensus estimate of $5.42 million. Workhorse Group had a net margin of 1,095.71% and a negative return on equity of 100.88%. The business’s revenue was up 1233.3% compared to the same quarter last year.

Several equities analysts have recently weighed in on the company. Zacks Investment Research upgraded Workhorse Group from a “sell” rating to a “hold” rating in a research report on Wednesday, August 11th. Colliers Securities reiterated a “neutral” rating on shares of Workhorse Group in a research report on Thursday, July 1st. DA Davidson reduced their price target on Workhorse Group from $10.00 to $7.50 and set a “neutral” rating for the company in a research report on Thursday. B. Riley reduced their price target on Workhorse Group from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, August 10th. Finally, Cowen reduced their target price on Workhorse Group from $8.50 to $7.50 and set a “market perform” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Workhorse Group presently has a consensus rating of “Hold” and a consensus price target of $16.64.

Institutional investors and hedge funds have recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Workhorse Group in the 1st quarter worth about $28,000. Larson Financial Group LLC boosted its holdings in shares of Workhorse Group by 520.7% in the 2nd quarter. Larson Financial Group LLC now owns 1,800 shares of the company’s stock worth $30,000 after purchasing an additional 1,510 shares in the last quarter. Sterling Investment Advisors Ltd. boosted its holdings in shares of Workhorse Group by 76.9% in the 2nd quarter. Sterling Investment Advisors Ltd. now owns 2,300 shares of the company’s stock worth $38,000 after purchasing an additional 1,000 shares in the last quarter. RMR Wealth Builders purchased a new position in shares of Workhorse Group in the 1st quarter worth about $39,000. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of Workhorse Group in the 2nd quarter worth about $40,000. Hedge funds and other institutional investors own 38.78% of the company’s stock.

Shares of NASDAQ WKHS traded down $0.05 during mid-day trading on Friday, hitting $7.52. The company had a trading volume of 5,953,023 shares, compared to its average volume of 16,328,321. The company has a market capitalization of $932.09 million, a price-to-earnings ratio of 7.16 and a beta of 2.69. Workhorse Group has a 1 year low of $7.05 and a 1 year high of $42.96. The company has a current ratio of 24.46, a quick ratio of 21.65 and a debt-to-equity ratio of 0.90. The stock’s 50-day moving average price is $9.63 and its 200-day moving average price is $11.76.

About Workhorse Group

Workhorse Group, Inc is a technology company, which engages in the provision of sustainable solutions to the commercial transportation sector. It operates as an original equipment manufacturer, which designs and builds battery-electric vehicles including trucks and aircraft. The firm also creates all-electric delivery trucks and drone systems.

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Earnings History and Estimates for Workhorse Group (NASDAQ:WKHS)

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