Wall Street brokerages expect that BEST Inc (NYSE:BSTI) will report $1.05 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for BEST’s earnings, with estimates ranging from $1.03 billion to $1.07 billion. The firm is expected to announce its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that BEST will report full year sales of $4.02 billion for the current fiscal year, with estimates ranging from $3.92 billion to $4.14 billion. For the next fiscal year, analysts expect that the business will post sales of $5.32 billion per share, with estimates ranging from $5.05 billion to $5.70 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover BEST.
BEST (NYSE:BSTI) last posted its quarterly earnings data on Wednesday, August 8th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.12 billion.
A number of analysts have recently weighed in on the company. KeyCorp cut their price objective on BEST from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Thursday, July 19th. Citigroup raised BEST from a “neutral” rating to a “buy” rating in a research report on Saturday, June 2nd. JPMorgan Chase & Co. cut their price objective on BEST from $14.80 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, August 10th. Zacks Investment Research lowered BEST from a “hold” rating to a “sell” rating in a research report on Friday, July 20th. Finally, Macquarie raised BEST from a “neutral” rating to an “outperform” rating and set a $8.00 price objective on the stock in a research report on Wednesday, September 12th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $12.80.
Shares of BEST stock traded down $0.35 during trading hours on Friday, reaching $6.00. 100,604 shares of the company were exchanged, compared to its average volume of 1,071,215. BEST has a 1 year low of $6.22 and a 1 year high of $13.54. The firm has a market capitalization of $2.41 billion and a P/E ratio of -4.75.
Large investors have recently bought and sold shares of the stock. NumerixS Investment Technologies Inc purchased a new position in BEST in the second quarter valued at $159,000. AJ Wealth Strategies LLC increased its holdings in BEST by 22.3% in the second quarter. AJ Wealth Strategies LLC now owns 53,268 shares of the company’s stock valued at $651,000 after buying an additional 9,710 shares during the last quarter. Jane Street Group LLC purchased a new position in BEST in the first quarter valued at $409,000. Indus Capital Partners LLC purchased a new position in BEST in the second quarter valued at $7,528,000. Finally, Guggenheim Capital LLC purchased a new position in BEST in the first quarter valued at $207,000. 18.54% of the stock is currently owned by hedge funds and other institutional investors.
BEST Inc operates as a smart supply chain service provider in the People's Republic of China. Its proprietary technology platform enables its ecosystem participants to operate their businesses through various SaaS-based applications. The company applies its technologies to a range of applications, such as network and route optimization, swap bodies, sorting line automation, smart warehouses, and store management.
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