Oatly Group (NASDAQ:OTLY) Posts Quarterly Earnings Results, Misses Estimates By $0.07 EPS

Posted by admin on Mar 17th, 2023

Oatly Group (NASDAQ:OTLY – Get Rating) posted its quarterly earnings results on Wednesday. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.07), Briefing.com reports. The firm had revenue of $195.10 million for the quarter, compared to analyst estimates of $181.07 million. Oatly Group had a negative net margin of 48.68% and a negative return on equity of 32.36%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.13) earnings per share. Oatly Group updated its FY 2023 guidance to EPS.

Oatly Group Stock Performance

NASDAQ OTLY traded up $0.09 during trading hours on Friday, hitting $2.26. The company had a trading volume of 1,044,121 shares, compared to its average volume of 5,025,913. Oatly Group has a fifty-two week low of $1.28 and a fifty-two week high of $5.80. The company has a quick ratio of 1.18, a current ratio of 1.56 and a debt-to-equity ratio of 0.14. The business has a fifty day simple moving average of $2.33 and a 200-day simple moving average of $2.24. The firm has a market cap of $1.34 billion, a P/E ratio of -3.86 and a beta of 0.78.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on OTLY shares. Cowen dropped their price target on Oatly Group from $5.00 to $3.00 in a research report on Monday, November 21st. Piper Sandler upped their price target on Oatly Group from $3.00 to $4.00 and gave the company an “overweight” rating in a research report on Tuesday, January 10th. Cowen dropped their price target on Oatly Group from $5.00 to $3.00 in a research report on Monday, November 21st. Royal Bank of Canada reissued an “outperform” rating and set a $7.00 price target on shares of Oatly Group in a research report on Monday. Finally, Mizuho raised Oatly Group from a “neutral” rating to a “buy” rating and upped their price target for the company from $2.50 to $6.00 in a research report on Wednesday, January 18th.

Institutional Investors Weigh In On Oatly Group

Several large investors have recently added to or reduced their stakes in OTLY. Envestnet Asset Management Inc. grew its stake in shares of Oatly Group by 14.4% in the first quarter. Envestnet Asset Management Inc. now owns 56,467 shares of the company’s stock worth $283,000 after purchasing an additional 7,103 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Oatly Group by 7.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 117,589 shares of the company’s stock worth $589,000 after purchasing an additional 7,823 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of Oatly Group in the first quarter worth $55,000. Integrated Wealth Concepts LLC bought a new position in shares of Oatly Group in the first quarter worth $55,000. Finally, BlackRock Inc. grew its stake in shares of Oatly Group by 31.1% in the first quarter. BlackRock Inc. now owns 63,066 shares of the company’s stock worth $316,000 after purchasing an additional 14,969 shares in the last quarter. 20.51% of the stock is owned by institutional investors and hedge funds.

About Oatly Group

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Oatly Group AB, an oatmilk company, provides a range of plant-based dairy products made from oats in Sweden. It offers Barista edition oatmilk, oatgurts, frozen desserts, ice-creams, and yogurts; ready-to-go drinks, such as cold brew latte, mocha latte, matcha latte, and mini oat drink in original and chocolate flavors; and cooking products, including Cooking Cream, in regular and organic, Crème Fraiche, Whipping Cream, Vanilla Custard and Spreads in a variety of flavors.