DAVIDsTEA Inc. (DTEA) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS
DAVIDsTEA Inc. (NASDAQ:DTEA) posted its quarterly earnings data on Thursday. The company reported ($0.12) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.02, Morningstar.com reports. DAVIDsTEA had a positive return on equity of 2.69% and a negative net margin of 2.57%. The firm had revenue of $45.70 million during the quarter, compared to analyst estimates of $44.32 million. During the same period last year, the company posted ($0.09) EPS. The business’s quarterly revenue was up 11.2% on a year-over-year basis.
DAVIDsTEA (DTEA) opened at 5.10 on Friday. The stock has a 50 day moving average price of $5.32 and a 200 day moving average price of $6.20. DAVIDsTEA has a 52-week low of $4.90 and a 52-week high of $12.88.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC increased its stake in shares of DAVIDsTEA by 3.0% during the first quarter. FMR LLC now owns 3,101,945 shares of the company’s stock valued at $22,800,000 after purchasing an additional 89,917 shares in the last quarter. EdgePoint Investment Group Inc. bought a new position in shares of DAVIDsTEA during the second quarter valued at approximately $7,156,000. Vivaldi Asset Management LLC bought a new position in shares of DAVIDsTEA during the second quarter valued at approximately $5,383,000. Vivaldi Capital Management LLC bought a new position in shares of DAVIDsTEA during the first quarter valued at approximately $5,631,217,000. Finally, PEAK6 Investments L.P. bought a new position in shares of DAVIDsTEA during the first quarter valued at approximately $207,000. 18.84% of the stock is owned by institutional investors and hedge funds.
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Several research analysts have recently weighed in on the company. Zacks Investment Research lowered DAVIDsTEA from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. BMO Capital Markets reissued a “market perform” rating and issued a $5.50 price objective on shares of DAVIDsTEA in a research report on Friday, June 9th. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $6.42.
DAVIDsTEA Inc is engaged in the retail and online sale of tea, tea accessories, and food and beverages in Canada and in the United States. The Company’s segments include Canada and the U.S. The Company is a branded retailer of specialty tea, offering approximately 150 loose-leaf teas, pre-packaged teas, tea sachets and tea-related gifts, accessories, and food and beverages primarily through approximately 190 DAVIDsTEA stores, which are operated by the Company, and its Website, davidstea.com.
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