Telsey Advisory Group Brokers Lower Earnings Estimates for Zevia PBC (NYSE:ZVIA)
Zevia PBC (NYSE:ZVIA – Free Report) – Investment analysts at Telsey Advisory Group reduced their Q1 2024 earnings estimates for shares of Zevia PBC in a research report issued to clients and investors on Tuesday, February 27th. Telsey Advisory Group analyst D. Telsey now expects that the company will post earnings of ($0.11) per share for the quarter, down from their prior estimate of ($0.06). Telsey Advisory Group currently has a “Market Perform” rating and a $4.00 target price on the stock. The consensus estimate for Zevia PBC’s current full-year earnings is ($0.27) per share. Telsey Advisory Group also issued estimates for Zevia PBC’s Q2 2024 earnings at ($0.07) EPS, Q3 2024 earnings at ($0.06) EPS, Q4 2024 earnings at ($0.04) EPS, FY2024 earnings at ($0.28) EPS and FY2025 earnings at $0.03 EPS.
Separately, Morgan Stanley cut their target price on shares of Zevia PBC from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $4.17.
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Zevia PBC Stock Down 0.7 %
Shares of ZVIA opened at $1.49 on Friday. Zevia PBC has a fifty-two week low of $1.36 and a fifty-two week high of $4.80. The firm’s 50 day moving average price is $1.73 and its 200 day moving average price is $2.03. The company has a market cap of $106.30 million, a P/E ratio of -3.55 and a beta of 0.67.
Zevia PBC (NYSE:ZVIA – Get Free Report) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). The company had revenue of $37.79 million during the quarter, compared to analysts’ expectations of $37.75 million. Zevia PBC had a negative net margin of 12.91% and a negative return on equity of 28.14%. During the same period last year, the firm posted ($0.10) earnings per share.
Hedge Funds Weigh In On Zevia PBC
Large investors have recently bought and sold shares of the company. Bessemer Group Inc. purchased a new position in shares of Zevia PBC in the 2nd quarter valued at about $27,000. California State Teachers Retirement System acquired a new stake in shares of Zevia PBC in the second quarter worth approximately $36,000. American International Group Inc. acquired a new stake in shares of Zevia PBC in the second quarter worth approximately $52,000. Wells Fargo & Company MN raised its holdings in Zevia PBC by 341.1% in the second quarter. Wells Fargo & Company MN now owns 12,660 shares of the company’s stock valued at $55,000 after buying an additional 9,790 shares during the period. Finally, Barclays PLC raised its holdings in Zevia PBC by 170.3% in the fourth quarter. Barclays PLC now owns 12,717 shares of the company’s stock valued at $52,000 after buying an additional 8,012 shares during the period. Hedge funds and other institutional investors own 46.65% of the company’s stock.
Insiders Place Their Bets
In other news, Director Padraic L. Spence sold 27,170 shares of the company’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $1.58, for a total value of $42,928.60. Following the completion of the transaction, the director now owns 1,779,739 shares in the company, valued at approximately $2,811,987.62. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Padraic L. Spence sold 27,170 shares of the company’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $1.58, for a total value of $42,928.60. Following the completion of the transaction, the director now owns 1,779,739 shares in the company, valued at approximately $2,811,987.62. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Padraic L. Spence sold 32,342 shares of the stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $1.92, for a total transaction of $62,096.64. Following the sale, the director now owns 1,806,909 shares of the company’s stock, valued at approximately $3,469,265.28. The disclosure for this sale can be found here. Insiders sold 78,275 shares of company stock worth $137,693 in the last 90 days. Corporate insiders own 11.73% of the company’s stock.
About Zevia PBC
Zevia PBC, a beverage company, develops, markets, sells, and distributes various carbonated and non-carbonated soft drinks in the United States and Canada. It offers soda, energy drinks, organic tea, mixers, and kidz drinks. The company offers its products through various retail channels, including grocery distributors, national retailers, warehouse club, and natural products retailers, as well as e-commerce channels.
Further Reading
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