Analysts Expect GreenPower Motor Company Inc. (NASDAQ:GP) Will Post Earnings of $0.03 Per Share

Equities research analysts expect that GreenPower Motor Company Inc. (NASDAQ:GP) will announce earnings of $0.03 per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for GreenPower Motor’s earnings. GreenPower Motor posted earnings per share of ($0.09) during the same quarter last year, which suggests a positive year-over-year growth rate of 133.3%. The business is expected to announce its next quarterly earnings results on Thursday, November 11th.

According to Zacks, analysts expect that GreenPower Motor will report full-year earnings of $0.21 per share for the current year. For the next year, analysts forecast that the company will report earnings of $0.60 per share, with EPS estimates ranging from $0.50 to $0.70. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that cover GreenPower Motor.

GreenPower Motor (NASDAQ:GP) last issued its earnings results on Thursday, August 12th. The company reported ($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.05). GreenPower Motor had a negative return on equity of 23.63% and a negative net margin of 70.65%. The company had revenue of $2.66 million for the quarter, compared to the consensus estimate of $4.62 million.

Several equities analysts have commented on the stock. Zacks Investment Research upgraded shares of GreenPower Motor from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Tuesday. B. Riley lowered their price objective on shares of GreenPower Motor from $34.00 to $27.00 and set a “buy” rating for the company in a research report on Monday, August 16th. Finally, Roth Capital lowered their price objective on shares of GreenPower Motor from $41.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $30.60.

Shares of NASDAQ:GP traded down $0.05 during midday trading on Friday, reaching $13.82. 4,087 shares of the company were exchanged, compared to its average volume of 136,960. GreenPower Motor has a one year low of $8.22 and a one year high of $34.45. The company has a current ratio of 13.08, a quick ratio of 5.85 and a debt-to-equity ratio of 0.01. The business’s fifty day moving average is $13.94 and its two-hundred day moving average is $16.64. The stock has a market cap of $305.42 million, a PE ratio of -31.45 and a beta of 7.37.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Invesco Ltd. raised its stake in shares of GreenPower Motor by 11.8% in the second quarter. Invesco Ltd. now owns 2,068,308 shares of the company’s stock valued at $40,601,000 after acquiring an additional 217,597 shares during the period. State Street Corp purchased a new stake in shares of GreenPower Motor in the second quarter valued at $4,878,000. JPMorgan Chase & Co. raised its stake in shares of GreenPower Motor by 61.4% in the second quarter. JPMorgan Chase & Co. now owns 245,258 shares of the company’s stock valued at $773,000 after acquiring an additional 93,329 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new stake in shares of GreenPower Motor in the second quarter valued at $1,187,000. Finally, Toroso Investments LLC increased its stake in GreenPower Motor by 374.8% in the 2nd quarter. Toroso Investments LLC now owns 54,598 shares of the company’s stock worth $1,072,000 after buying an additional 43,099 shares during the period. 22.13% of the stock is currently owned by institutional investors and hedge funds.

About GreenPower Motor

GreenPower Motor Co, Inc engages in the design, manufacture, and distribution of electric powered vehicles for commercial markets. It offers electric-powered school buses, vans, charter buses, and double-deckers. The company was founded by Fraser Atkinson and Phillip W. Oldridge on March 30, 2010 and is headquartered in Vancouver, Canada.

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Earnings History and Estimates for GreenPower Motor (NASDAQ:GP)

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