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

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

Oatly Group Stock Up 1.7 %

OTLY traded up $0.02 on Wednesday, hitting $1.17. 2,644,770 shares of the company were exchanged, compared to its average volume of 1,898,173. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.71 and a current ratio of 0.83. The stock's fifty day moving average is $1.04 and its 200-day moving average is $1.00. The company has a market cap of $696.22 million, a PE ratio of -1.38 and a beta of 2.29. Oatly Group has a 12 month low of $0.44 and a 12 month high of $2.39.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Morgan Stanley reaffirmed an "equal weight" rating and issued a $1.25 price objective on shares of Oatly Group in a research report on Tuesday, February 20th. DA Davidson assumed coverage on Oatly Group in a research report on Friday, March 1st. They set a "buy" rating and a $1.50 price objective for the company. Finally, Royal Bank of Canada increased their price objective on Oatly Group from $0.63 to $1.05 and gave the stock a "sector perform" rating in a report on Friday, February 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $2.11.

Oatly Group Company Profile

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.