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

Oatly Group (NASDAQ:OTLY) announced its quarterly earnings results on Tuesday. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01, Yahoo Finance reports. Oatly Group had a negative return on equity of 37.94% and a negative net margin of 53.22%. The company had revenue of $199.16 million during the quarter, compared to analyst estimates of $198.43 million. During the same quarter last year, the firm posted ($0.13) earnings per share. Oatly Group updated its FY 2024 guidance to EPS.

Oatly Group Stock Performance

NASDAQ OTLY traded up $0.02 during trading hours on Wednesday, hitting $1.17. The company’s stock had a trading volume of 190,276 shares, compared to its average volume of 1,868,627. Oatly Group has a 12 month low of $0.44 and a 12 month high of $2.39. The company’s 50 day simple moving average is $1.04 and its two-hundred day simple moving average is $1.00. The company has a market cap of $693.24 million, a P/E ratio of -1.35 and a beta of 2.29. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.83 and a quick ratio of 0.71.

Analyst Upgrades and Downgrades

OTLY has been the subject of a number of research analyst reports. DA Davidson started coverage on Oatly Group in a research note on Friday, March 1st. They issued a “buy” rating and a $1.50 price target for the company. Royal Bank of Canada raised their price objective on Oatly Group from $0.63 to $1.05 and gave the company a “sector perform” rating in a research report on Friday, February 16th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $1.25 price objective on shares of Oatly Group in a research report on Tuesday, February 20th. One 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $2.11.

Oatly Group Company Profile

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.