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

Oatly Group (NASDAQ:OTLY) issued its quarterly earnings data on Tuesday. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.01, Yahoo Finance reports. The business had revenue of $199.16 million during the quarter, compared to analyst estimates of $198.43 million. Oatly Group had a negative return on equity of 37.94% and a negative net margin of 53.22%. During the same period in the previous year, the firm earned ($0.13) EPS. Oatly Group updated its FY 2024 guidance to EPS.

Oatly Group Price Performance

NASDAQ:OTLY traded up $0.03 during trading hours on Wednesday, reaching $1.18. 1,284,257 shares of the company were exchanged, compared to its average volume of 1,880,474. The business has a 50 day moving average of $1.04 and a 200 day moving average of $1.00. The company has a market capitalization of $702.17 million, a P/E ratio of -1.38 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. Oatly Group has a 1-year low of $0.44 and a 1-year high of $2.39.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on OTLY. Royal Bank of Canada upped their price target on Oatly Group from $0.63 to $1.05 and gave the stock a “sector perform” rating in a research report on Friday, February 16th. Morgan Stanley restated an “equal weight” rating and set a $1.25 target price on shares of Oatly Group in a report on Tuesday, February 20th. Finally, DA Davidson began coverage on shares of Oatly Group in a research note on Friday, March 1st. They issued a “buy” rating and a $1.50 price target for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $2.11.

About Oatly Group

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.