Reed’s (REED) to Release Earnings on Thursday
Reed’s (NYSE:REED) is scheduled to be releasing its earnings data after the market closes on Thursday, October 13th. Analysts expect Reed’s to post earnings of ($0.04) per share for the quarter.
Reed’s (NYSE:REED) last announced its quarterly earnings data on Thursday, August 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by $0.01. On average, analysts expect Reed’s to post $-0.17 EPS for the current fiscal year and $0.13 EPS for the next fiscal year.
Shares of Reed’s (NYSE:REED) opened at 4.12 on Tuesday. The firm’s market cap is $57.30 million. The stock has a 50 day moving average of $3.49 and a 200 day moving average of $3.44. Reed’s has a 52 week low of $2.25 and a 52 week high of $6.91.
A hedge fund recently raised its stake in Reed’s stock. Vanguard Group Inc. increased its position in Reed’s (NYSE:REED) by 5.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 216,739 shares of the company’s stock after buying an additional 11,800 shares during the period. Vanguard Group Inc. owned approximately 1.56% of Reed’s worth $535,000 at the end of the most recent quarter.
Several equities research analysts have commented on the company. Zacks Investment Research upgraded Reed’s from a “sell” rating to a “hold” rating in a research note on Wednesday, July 20th. Wunderlich reiterated a “buy” rating and set a $8.00 price objective (down previously from $10.00) on shares of Reed’s in a research note on Friday, August 5th.
Reed’s, Inc develops, manufactures, markets and sells natural non-alcoholic carbonated soft drinks, Kombucha, candies and ice creams. The Company manufactures, licenses, markets and sells several product lines, such as Reed’s Ginger Brews; Virgil’s Root Beer, Cream Sodas, Dr. Better and Real Cola, including ZERO diet sodas; Culture Club Kombucha; China Colas; Reed’s Ginger candy and ice creams, and Sonoma Sparkler and other juice based products.
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