Etsy Inc (ETSY) Expected to Post Quarterly Sales of $132.89 Million

Wall Street analysts predict that Etsy Inc (NASDAQ:ETSY) will announce $132.89 million in sales for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Etsy’s earnings, with the lowest sales estimate coming in at $132.39 million and the highest estimate coming in at $134.40 million. Etsy reported sales of $110.21 million during the same quarter last year, which would suggest a positive year over year growth rate of 20.6%. The company is expected to announce its next earnings results on Tuesday, February 27th.

According to Zacks, analysts expect that Etsy will report full-year sales of $132.89 million for the current financial year, with estimates ranging from $437.30 million to $439.30 million. For the next financial year, analysts anticipate that the firm will post sales of $520.64 million per share, with estimates ranging from $506.92 million to $529.10 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Etsy.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Monday, November 6th. The specialty retailer reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.07. Etsy had a return on equity of 9.19% and a net margin of 3.77%.

Several equities analysts recently issued reports on the company. Zacks Investment Research lowered Etsy from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. BidaskClub lowered Etsy from a “buy” rating to a “hold” rating in a research note on Saturday, January 13th. Morgan Stanley lowered Etsy from an “equal weight” rating to an “underweight” rating and set a $17.00 price objective on the stock. in a research note on Friday, January 12th. KeyCorp began coverage on Etsy in a research note on Wednesday, December 20th. They issued an “overweight” rating on the stock. Finally, Ifs Securities reiterated an “outperform” rating and issued a $22.00 price objective (up from $18.00) on shares of Etsy in a research note on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $16.19.

Shares of Etsy (NASDAQ:ETSY) traded up $0.10 on Friday, reaching $19.70. The company had a trading volume of 1,540,000 shares, compared to its average volume of 2,120,000. Etsy has a 1 year low of $9.41 and a 1 year high of $21.86. The company has a quick ratio of 4.26, a current ratio of 4.26 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $2,400.00 and a price-to-earnings ratio of 164.17.

Etsy announced that its board has authorized a stock repurchase plan on Friday, November 17th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the specialty retailer to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

In other news, Director Frederick R. Wilson sold 87,938 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $16.24, for a total value of $1,428,113.12. Following the sale, the director now directly owns 822,062 shares in the company, valued at approximately $13,350,286.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 4.00% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its position in Etsy by 30.3% during the 2nd quarter. Royal Bank of Canada now owns 8,812 shares of the specialty retailer’s stock worth $133,000 after acquiring an additional 2,049 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in Etsy by 12.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 10,160 shares of the specialty retailer’s stock worth $152,000 after acquiring an additional 1,092 shares during the last quarter. Trexquant Investment LP bought a new stake in Etsy during the 3rd quarter worth approximately $192,000. Rehmann Capital Advisory Group bought a new stake in Etsy during the 3rd quarter worth approximately $211,000. Finally, Fox Run Management L.L.C. bought a new stake in Etsy during the 3rd quarter worth approximately $246,000. Institutional investors and hedge funds own 74.40% of the company’s stock.

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About Etsy

Etsy, Inc (Etsy) operates a marketplace where people around the world connect, both online and offline, to make, sell and buy goods. The Company offers a range of seller services and tools that help entrepreneurs start, grow and manage their businesses. The Company’s community includes Etsy sellers, Etsy buyers, Etsy employees, its partners and investors.

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