Brokerages Expect Target Hospitality Corp. (NYSE:TH) Will Post Earnings of $0.06 Per Share
Wall Street analysts predict that Target Hospitality Corp. (NYSE:TH) will post earnings per share of $0.06 for the current quarter, Zacks reports. Four analysts have made estimates for Target Hospitality’s earnings. The highest EPS estimate is $0.07 and the lowest is $0.04. Target Hospitality reported earnings per share of $0.21 in the same quarter last year, which indicates a negative year-over-year growth rate of 71.4%. The company is expected to issue its next earnings report before the market opens on Thursday, May 28th.
According to Zacks, analysts expect that Target Hospitality will report full year earnings of $0.09 per share for the current financial year, with EPS estimates ranging from ($0.04) to $0.31. For the next financial year, analysts forecast that the firm will post earnings of $0.11 per share, with EPS estimates ranging from ($0.02) to $0.36. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Target Hospitality.
Target Hospitality (NYSE:TH) last released its quarterly earnings data on Wednesday, March 11th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.01). The company had revenue of $76.11 million for the quarter, compared to analyst estimates of $76.39 million.
TH stock traded up $0.15 during mid-day trading on Friday, hitting $1.72. 64,280 shares of the company were exchanged, compared to its average volume of 187,881. The firm’s 50 day simple moving average is $1.72 and its 200 day simple moving average is $3.93. Target Hospitality has a 1-year low of $1.19 and a 1-year high of $11.70.
In other news, Director Andrew P. Studdert bought 45,653 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were acquired at an average cost of $1.64 per share, for a total transaction of $74,870.92. Following the completion of the acquisition, the director now owns 115,653 shares in the company, valued at $189,670.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
A number of hedge funds have recently added to or reduced their stakes in TH. Creative Planning boosted its position in shares of Target Hospitality by 104.2% in the first quarter. Creative Planning now owns 37,090 shares of the company’s stock valued at $74,000 after acquiring an additional 18,930 shares during the period. Bank of America Corp DE boosted its position in shares of Target Hospitality by 12.5% in the fourth quarter. Bank of America Corp DE now owns 17,258 shares of the company’s stock valued at $86,000 after acquiring an additional 1,920 shares during the period. Squarepoint Ops LLC boosted its position in shares of Target Hospitality by 229.7% in the first quarter. Squarepoint Ops LLC now owns 49,908 shares of the company’s stock valued at $99,000 after acquiring an additional 34,770 shares during the period. State of Michigan Retirement System boosted its position in shares of Target Hospitality by 87.5% in the first quarter. State of Michigan Retirement System now owns 75,000 shares of the company’s stock valued at $149,000 after acquiring an additional 35,000 shares during the period. Finally, Stifel Financial Corp bought a new stake in shares of Target Hospitality in the fourth quarter valued at about $152,000.
Target Hospitality Company Profile
Target Hospitality Corp., through its subsidiaries, provides specialty rental accommodations with catering and value-added hospitality services in the United States. The company was formerly known as Platinum Eagle Acquisition Corp. and changed its name to Target Hospitality Corp. in March 2019. The company is headquartered in The Woodlands, Texas.
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