Analysts Issue Forecasts for Loop Industries, Inc.’s FY2022 Earnings (NASDAQ:LOOP)

Loop Industries, Inc. (NASDAQ:LOOP) – Equities research analysts at Raymond James lowered their FY2022 earnings per share (EPS) estimates for shares of Loop Industries in a research note issued to investors on Wednesday, January 12th. Raymond James analyst D. Quezada now expects that the financial services provider will earn ($0.90) per share for the year, down from their previous forecast of ($0.79). Raymond James currently has a “Outperform” rating and a $19.50 target price on the stock. Raymond James also issued estimates for Loop Industries’ Q4 2022 earnings at ($0.21) EPS, Q1 2023 earnings at ($0.20) EPS, Q2 2023 earnings at ($0.19) EPS, Q3 2023 earnings at ($0.18) EPS, Q4 2023 earnings at ($0.17) EPS, FY2023 earnings at ($0.74) EPS and FY2024 earnings at ($0.38) EPS.

Several other equities analysts have also issued reports on the company. HC Wainwright reaffirmed a “buy” rating on shares of Loop Industries in a research report on Tuesday, October 19th. Zacks Investment Research lowered Loop Industries from a “hold” rating to a “sell” rating in a research report on Friday.

LOOP opened at $9.48 on Friday. The stock has a 50-day moving average price of $13.04 and a 200-day moving average price of $11.97. The company has a debt-to-equity ratio of 0.06, a current ratio of 9.67 and a quick ratio of 11.59. The firm has a market cap of $447.08 million, a PE ratio of -9.39 and a beta of 1.03. Loop Industries has a 1 year low of $7.49 and a 1 year high of $18.20.

Loop Industries (NASDAQ:LOOP) last posted its quarterly earnings results on Monday, January 10th. The financial services provider reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.04).

Hedge funds have recently made changes to their positions in the company. State Street Corp bought a new stake in shares of Loop Industries in the second quarter worth approximately $806,000. Bank of Montreal Can grew its stake in shares of Loop Industries by 5.9% in the second quarter. Bank of Montreal Can now owns 55,090 shares of the financial services provider’s stock worth $717,000 after acquiring an additional 3,064 shares during the period. Handelsbanken Fonder AB grew its stake in shares of Loop Industries by 2.8% in the third quarter. Handelsbanken Fonder AB now owns 2,503,462 shares of the financial services provider’s stock worth $28,615,000 after acquiring an additional 68,976 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Loop Industries by 7.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 106,948 shares of the financial services provider’s stock worth $1,319,000 after acquiring an additional 7,129 shares during the period. Finally, Beacon Pointe Advisors LLC bought a new stake in shares of Loop Industries in the second quarter worth approximately $837,000. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Loop Industries Company Profile

Loop Industries, Inc focuses on depolymerizing waste polyethylene terephthalate (PET) plastics and polyester fibers into base building blocks. It re-polymerized monomers into virgin-quality PET plastic for use in food-grade plastic packaging, such as water and soda bottles; and polyester fibers comprising carpets and clothing for textile applications to consumer goods companies The company was founded by Daniel Solomita in 2015 and is headquartered in Terrebonne, Canada.

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Earnings History and Estimates for Loop Industries (NASDAQ:LOOP)