Blue Apron Holdings Inc (APRN) Forecasted to Post Q3 2018 Earnings of ($0.11) Per Share

Blue Apron Holdings Inc (NYSE:APRN) – Equities researchers at SunTrust Banks issued their Q3 2018 earnings estimates for Blue Apron in a research note issued to investors on Tuesday. SunTrust Banks analyst Y. Squali expects that the company will earn ($0.11) per share for the quarter. SunTrust Banks currently has a “Hold” rating and a $5.50 price target on the stock. SunTrust Banks also issued estimates for Blue Apron’s FY2018 earnings at ($0.62) EPS, FY2019 earnings at ($0.41) EPS, FY2020 earnings at ($0.24) EPS, FY2021 earnings at ($0.04) EPS and FY2022 earnings at $0.17 EPS.

Several other research firms have also issued reports on APRN. Zacks Investment Research lowered shares of Blue Apron from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $6.00 price objective on shares of Blue Apron in a research note on Friday, November 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $5.00 price objective (down previously from $6.50) on shares of Blue Apron in a research note on Friday, November 3rd. Royal Bank of Canada reaffirmed a “hold” rating and issued a $4.00 price objective on shares of Blue Apron in a research note on Wednesday. Finally, Morgan Stanley reduced their price objective on shares of Blue Apron from $4.70 to $4.50 and set an “equal weight” rating for the company in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $6.61.

Shares of Blue Apron (APRN) traded down $0.07 during trading hours on Thursday, hitting $3.40. 521,167 shares of the company’s stock were exchanged, compared to its average volume of 2,588,104. Blue Apron has a 52 week low of $2.94 and a 52 week high of $11.00. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.15 and a quick ratio of 2.73.

Blue Apron (NYSE:APRN) last issued its earnings results on Tuesday, February 13th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.07. The company had revenue of $187.70 million for the quarter, compared to analyst estimates of $186.13 million. The company’s quarterly revenue was down 13.1% on a year-over-year basis. During the same period last year, the business earned ($0.39) EPS.

In other Blue Apron news, CEO Brad Dickerson bought 40,000 shares of the stock in a transaction that occurred on Monday, December 11th. The shares were acquired at an average price of $3.87 per share, with a total value of $154,800.00. Following the completion of the purchase, the chief executive officer now directly owns 40,000 shares in the company, valued at approximately $154,800. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder First Round Capital Iv Partner sold 65,728 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $3.03, for a total transaction of $199,155.84. The disclosure for this sale can be found here. In the last quarter, insiders purchased 245,000 shares of company stock worth $959,450 and sold 257,756 shares worth $782,943.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp bought a new stake in Blue Apron in the third quarter valued at about $120,000. Royal Bank of Canada bought a new stake in Blue Apron in the second quarter valued at about $141,000. BBR Partners LLC bought a new stake in Blue Apron in the third quarter valued at about $147,000. BlueCrest Capital Management Ltd bought a new stake in Blue Apron in the second quarter valued at about $280,000. Finally, Goldman Sachs Group Inc. increased its stake in Blue Apron by 3,473.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 76,878 shares of the company’s stock valued at $310,000 after acquiring an additional 79,157 shares during the period. 58.74% of the stock is currently owned by institutional investors and hedge funds.

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Blue Apron Company Profile

Blue Apron Holdings, Inc is a holding company. The Company is focused on providing recipes and fresh ingredients for making home cooking accessible. The Company offers under a novel business model in which it source, process, store and package meal ingredients and ship them directly to consumers. The Company’s core products include Meals and Wine.

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