The Hain Celestial Group (NASDAQ:HAIN) Issues Quarterly Earnings Results

Key Points

• The Hain Celestial Group reported a loss of ($0.02) earnings per share, falling short of analysts' estimates by ($0.06).
• The company's revenue decreased by 13.4% year-over-year, compared to an earnings per share of $0.13 for the same period last year.
• Despite missing earnings estimates, HAIN stock saw a 1.4% increase, with a market capitalization of $194.04 million.

The Hain Celestial Group (NASDAQ:HAIN - Get Free Report) issued its earnings results on Monday. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.06), Briefing.com reports. The firm had revenue of $363.35 million during the quarter, compared to the consensus estimate of $371.58 million. The Hain Celestial Group had a negative net margin of 34.03% and a positive return on equity of 1.10%. The business's quarterly revenue was down 13.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.13 earnings per share.

The Hain Celestial Group Stock Up 1.0%

HAIN stock traded up $0.02 during midday trading on Friday, hitting $1.51. The company's stock had a trading volume of 1,023,687 shares, compared to its average volume of 2,107,613. The Hain Celestial Group has a 52-week low of $1.30 and a 52-week high of $9.43. The company has a quick ratio of 0.99, a current ratio of 1.91 and a debt-to-equity ratio of 1.47. The firm has a 50-day simple moving average of $1.73 and a 200-day simple moving average of $2.33. The firm has a market capitalization of $135.89 million, a P/E ratio of -0.25 and a beta of 0.79.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on HAIN shares. Zacks Research cut The Hain Celestial Group from a "hold" rating to a "strong sell" rating in a report on Wednesday. Barclays cut their target price on The Hain Celestial Group from $2.00 to $1.50 and set an "equal weight" rating on the stock in a research note on Wednesday. Piper Sandler dropped their price target on The Hain Celestial Group from $2.00 to $1.80 and set a "neutral" rating on the stock in a research note on Tuesday, June 3rd. Stephens downgraded The Hain Celestial Group from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $3.00 to $2.00 in a research report on Wednesday. Finally, Mizuho reduced their target price on The Hain Celestial Group from $2.50 to $1.50 and set a "neutral" rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $3.28.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in HAIN. AQR Capital Management LLC grew its position in shares of The Hain Celestial Group by 151.1% in the first quarter. AQR Capital Management LLC now owns 1,066,048 shares of the company's stock valued at $4,424,000 after purchasing an additional 641,567 shares during the last quarter. Millennium Management LLC raised its stake in shares of The Hain Celestial Group by 295.4% in the 1st quarter. Millennium Management LLC now owns 4,731,690 shares of the company's stock valued at $19,637,000 after acquiring an additional 3,535,073 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of The Hain Celestial Group in the 1st quarter valued at $162,000. Empowered Funds LLC purchased a new position in shares of The Hain Celestial Group in the 1st quarter valued at $444,000. Finally, Cetera Investment Advisers grew its holdings in The Hain Celestial Group by 255.1% during the 2nd quarter. Cetera Investment Advisers now owns 43,876 shares of the company's stock valued at $67,000 after purchasing an additional 31,521 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

The Hain Celestial Group Company Profile

The Hain Celestial Group, Inc manufactures, markets, and sells organic and natural products in United States, United Kingdom, Europe, and internationally. It operates through two segments: North America and International. The company offers infant formula; infant, toddler, and kids' food; plant-based beverages and frozen desserts, such as soy, rice, oat, and spelt; and condiments.