Reed’s (REED) Set to Post Earnings on Thursday
Reed’s (NYSE:REED) will issue its quarterly earnings data after the market closes on Thursday, October 13th. Analysts expect the company to announce earnings of ($0.04) per share for the quarter.
Reed’s (NYSE:REED) last released its quarterly earnings results on Thursday, August 4th. The company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. On average, analysts expect Reed’s to post $-0.17 EPS for the current fiscal year and $0.13 EPS for the next fiscal year.
Shares of Reed’s (NYSE:REED) opened at 4.03 on Wednesday. The stock’s 50 day moving average price is $3.53 and its 200 day moving average price is $3.44. The company’s market capitalization is $56.05 million. Reed’s has a 12-month low of $2.25 and a 12-month high of $6.91.
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An institutional investor recently raised its position in Reed’s stock. Vanguard Group Inc. increased its stake in Reed’s (NYSE:REED) by 5.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 216,739 shares of the company’s stock after buying an additional 11,800 shares during the period. Vanguard Group Inc. owned 1.56% of Reed’s worth $535,000 as of its most recent filing with the SEC.
Several research firms have recently weighed in on REED. Wunderlich reiterated a “buy” rating and set a $8.00 price target (down previously from $10.00) on shares of Reed’s in a research note on Friday, August 5th. Zacks Investment Research upgraded Reed’s from a “sell” rating to a “hold” rating in a research note on Wednesday, July 20th.
Reed’s Company Profile
Reed’s, Inc develops, manufactures, markets and sells natural non-alcoholic carbonated soft drinks, Kombucha, candies and ice creams. The Company manufactures, licenses, markets and sells several product lines, such as Reed’s Ginger Brews; Virgil’s Root Beer, Cream Sodas, Dr. Better and Real Cola, including ZERO diet sodas; Culture Club Kombucha; China Colas; Reed’s Ginger candy and ice creams, and Sonoma Sparkler and other juice based products.
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