Zacks: Brokerages Anticipate American Well Co. (NYSE:AMWL) Will Announce Earnings of -$0.26 Per Share

Brokerages expect American Well Co. (NYSE:AMWLGet Rating) to report ($0.26) earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for American Well’s earnings, with the highest EPS estimate coming in at ($0.23) and the lowest estimate coming in at ($0.28). American Well posted earnings per share of ($0.15) in the same quarter last year, which indicates a negative year-over-year growth rate of 73.3%. The company is expected to issue its next earnings report on Monday, January 1st.

On average, analysts expect that American Well will report full year earnings of ($0.98) per share for the current fiscal year, with EPS estimates ranging from ($1.03) to ($0.88). For the next fiscal year, analysts forecast that the business will post earnings of ($0.69) per share, with EPS estimates ranging from ($0.77) to ($0.63). Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover American Well.

American Well (NYSE:AMWLGet Rating) last released its quarterly earnings results on Monday, May 9th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.04). The firm had revenue of $64.20 million for the quarter, compared to the consensus estimate of $64.94 million. American Well had a negative net margin of 79.91% and a negative return on equity of 16.72%. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.16) earnings per share.

AMWL has been the subject of a number of recent research reports. Piper Sandler reiterated an “overweight” rating and set a $5.00 price objective (down from $7.00) on shares of American Well in a research note on Monday, May 16th. Guggenheim started coverage on American Well in a research note on Wednesday, April 13th. They issued a “buy” rating and a $6.00 price target for the company. Wells Fargo & Company dropped their price target on American Well from $6.00 to $4.00 and set an “equal weight” rating for the company in a research note on Monday, February 28th. The Goldman Sachs Group started coverage on American Well in a research note on Friday, February 11th. They issued a “neutral” rating and a $6.00 price target for the company. Finally, Zacks Investment Research downgraded American Well from a “hold” rating to a “sell” rating in a research note on Tuesday, May 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $8.93.

In other news, CEO Ido Schoenberg sold 136,611 shares of the stock in a transaction on Monday, March 21st. The stock was sold at an average price of $3.77, for a total transaction of $515,023.47. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Phyllis Gotlib sold 16,926 shares of the firm’s stock in a transaction dated Monday, April 18th. The shares were sold at an average price of $3.58, for a total value of $60,595.08. Following the sale, the insider now directly owns 523,035 shares in the company, valued at approximately $1,872,465.30. The disclosure for this sale can be found here. Insiders sold a total of 321,047 shares of company stock worth $1,197,231 in the last ninety days. 14.68% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of AMWL. Gagnon Securities LLC acquired a new position in American Well during the fourth quarter worth about $62,000. Gagnon Advisors LLC acquired a new stake in American Well during the 4th quarter worth $64,000. Point72 Hong Kong Ltd boosted its stake in American Well by 175.1% during the 1st quarter. Point72 Hong Kong Ltd now owns 8,087 shares of the company’s stock worth $34,000 after purchasing an additional 5,147 shares during the period. Nisa Investment Advisors LLC boosted its stake in American Well by 440.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 8,100 shares of the company’s stock worth $34,000 after purchasing an additional 6,600 shares during the period. Finally, Vigilant Capital Management LLC acquired a new stake in shares of American Well in the 1st quarter worth $42,000. 43.75% of the stock is owned by hedge funds and other institutional investors.

Shares of American Well stock traded up $0.08 during trading hours on Friday, reaching $3.18. 41,505 shares of the stock traded hands, compared to its average volume of 2,995,806. The company has a 50 day moving average price of $3.55 and a 200 day moving average price of $4.74. The firm has a market capitalization of $837.34 million, a price-to-earnings ratio of -3.92 and a beta of 0.86. American Well has a one year low of $2.52 and a one year high of $14.76.

About American Well (Get Rating)

American Well Corporation operates as a telehealth software company that enables digital delivery of care for healthcare. The company products offer urgent care; scheduled visits; acute behavioral health; telestroke; pediatrics; retail health, school health, and home settings. Its application offers urgent care; pediatrics; therapy; menopause nutrition; end-stage renal disease and dialysis; dermatology care; behavioral health therapy; and musculoskeletal care.

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Earnings History and Estimates for American Well (NYSE:AMWL)

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