Oatly Group (NASDAQ:OTLY) Posts Earnings Results, Beats Estimates By $0.01 EPS

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

Oatly Group Price Performance

NASDAQ OTLY traded up $0.01 during trading hours on Thursday, reaching $1.18. 752,247 shares of the company’s stock were exchanged, compared to its average volume of 1,883,990. The firm has a fifty day moving average of $1.04 and a 200-day moving average of $1.00. Oatly Group has a one year low of $0.44 and a one year high of $2.39. The stock has a market cap of $699.20 million, a PE ratio of -1.48 and a beta of 2.18. The company has a current ratio of 0.83, a quick ratio of 0.71 and a debt-to-equity ratio of 0.56.

Analysts Set New Price Targets

OTLY has been the subject of a number of analyst reports. Royal Bank of Canada raised their price target on shares of Oatly Group from $0.63 to $1.05 and gave the stock a “sector perform” rating in a research note on Friday, February 16th. DA Davidson started coverage on Oatly Group in a report on Friday, March 1st. They issued a “buy” rating and a $1.50 target price for the company. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $1.25 price target on shares of Oatly Group in a research note on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price 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.