Arctic Cat Inc. (ACAT) to Post Q3 2017 Earnings of ($0.03) Per Share, Wedbush Forecasts
Arctic Cat Inc. (NASDAQ:ACAT) – Research analysts at Wedbush dropped their Q3 2017 EPS estimates for shares of Arctic Cat in a report issued on Thursday. Wedbush analyst J. Hardiman now expects that the firm will post earnings per share of ($0.03) for the quarter, down from their prior estimate of $0.13. Wedbush also issued estimates for Arctic Cat’s Q4 2017 earnings at $0.50 EPS, FY2017 earnings at ($1.32) EPS and FY2018 earnings at ($0.12) EPS.
Arctic Cat (NASDAQ:ACAT) last announced its quarterly earnings data on Wednesday, November 9th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by $1.34. Arctic Cat had a negative net margin of 7.66% and a negative return on equity of 25.00%. The firm earned $164.20 million during the quarter, compared to the consensus estimate of $196.42 million. During the same quarter in the prior year, the firm posted $0.85 earnings per share. The company’s revenue was down 22.0% on a year-over-year basis.
Several other research firms have also recently commented on ACAT. Feltl & Co. cut Arctic Cat from a “hold” rating to a “sell” rating and set a $12.00 price objective on the stock. in a research report on Friday, July 29th. Zacks Investment Research raised Arctic Cat from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 4th. KeyCorp reaffirmed a “buy” rating and set a $22.00 price objective on shares of Arctic Cat in a research report on Thursday, October 6th. BMO Capital Markets cut Arctic Cat from a “market perform” rating to an “underperform” rating and dropped their price objective for the company from $11.00 to $9.00 in a research report on Thursday, November 10th. Finally, Jefferies Group assumed coverage on Arctic Cat in a research report on Friday, September 30th. They set a “buy” rating and a $19.00 price objective on the stock. Four analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $15.00.
Shares of Arctic Cat (NASDAQ:ACAT) opened at 15.01 on Monday. The company’s market capitalization is $195.84 million. The company has a 50-day moving average price of $14.92 and a 200-day moving average price of $15.46. Arctic Cat has a 52 week low of $8.90 and a 52 week high of $22.53.
Hedge funds and other institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System increased its position in Arctic Cat by 1.1% in the third quarter. California State Teachers Retirement System now owns 27,767 shares of the company’s stock valued at $430,000 after buying an additional 300 shares during the period. Rhumbline Advisers increased its stake in shares of Arctic Cat by 2.3% in the second quarter. Rhumbline Advisers now owns 20,534 shares of the company’s stock valued at $349,000 after buying an additional 468 shares during the period. BlackRock Group LTD increased its stake in shares of Arctic Cat by 7.8% in the third quarter. BlackRock Group LTD now owns 8,818 shares of the company’s stock valued at $137,000 after buying an additional 635 shares during the period. BlackRock Advisors LLC increased its stake in shares of Arctic Cat by 11.1% in the third quarter. BlackRock Advisors LLC now owns 6,730 shares of the company’s stock valued at $104,000 after buying an additional 674 shares during the period. Finally, Prudential Financial Inc. increased its stake in shares of Arctic Cat by 4.1% in the first quarter. Prudential Financial Inc. now owns 30,685 shares of the company’s stock valued at $516,000 after buying an additional 1,200 shares during the period. 99.22% of the stock is currently owned by hedge funds and other institutional investors.
About Arctic Cat
Arctic Cat Inc (Arctic Cat) designs, engineers, manufactures and markets snowmobiles and all-terrain vehicles (ATVs) and recreational off-highway vehicles (side-by-sides or ROVs), as well as related parts, garments and accessories (PG&A). The Company offers its products under the Arctic Cat and MotorFist brand names.
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