Oatly Group (NASDAQ:OTLY) Issues Quarterly Earnings Results

Oatly Group (NASDAQ:OTLY) announced its earnings results on Tuesday. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01, Yahoo Finance reports. The business had revenue of $199.16 million for the quarter, compared to analyst estimates of $198.43 million. Oatly Group had a negative return on equity of 36.51% and a negative net margin of 49.19%. During the same period in the previous year, the company earned ($0.13) earnings per share. Oatly Group updated its FY 2024 guidance to EPS.

Oatly Group Stock Up 1.3 %

Shares of Oatly Group stock traded up $0.02 on Thursday, hitting $1.19. The company had a trading volume of 622,550 shares, compared to its average volume of 1,882,571. The firm has a market capitalization of $705.15 million, a P/E ratio of -1.48 and a beta of 2.18. Oatly Group has a twelve month low of $0.44 and a twelve month high of $2.39. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.83 and a quick ratio of 0.71. The stock has a 50-day moving average of $1.04 and a 200-day moving average of $1.00.

Wall Street Analyst Weigh In

A number of equities analysts have commented on OTLY shares. DA Davidson began coverage on Oatly Group in a research note on Friday, March 1st. They issued a “buy” rating and a $1.50 target price for the company. Royal Bank of Canada upped their price target on Oatly Group from $0.63 to $1.05 and gave the company a “sector perform” rating in a report on Friday, February 16th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $1.25 price target on shares of Oatly Group in a research report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $2.11.

About Oatly Group

Oatly Group AB, an oatmilk company, provides a range of plant-based dairy products made from oats in Europe, the Middle East, Africa, the Americas, and Asia. It offers Barista edition oatmilk, oatgurts, frozen desserts, ice-creams, and yogurts; cooking products, including cooking cream, in regular and organic, Crème Fraiche, whipping cream, vanilla custard, and spreads in a variety of flavors; and ready-to-go drinks.