Krispy Kreme (NASDAQ:DNUT) Releases Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Krispy Kreme (NASDAQ:DNUT) announced its quarterly earnings data on Thursday. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.07, Zacks reports. Krispy Kreme had a negative return on equity of 5.55% and a negative net margin of 29.33%.The company had revenue of $375.30 million for the quarter, compared to analyst estimates of $378.29 million. During the same quarter last year, the firm earned ($0.01) EPS. Krispy Kreme’s revenue for the quarter was down 1.2% compared to the same quarter last year.

Krispy Kreme Trading Up 3.7%

Shares of DNUT traded up $0.14 during trading hours on Thursday, hitting $3.91. 12,128,176 shares of the stock traded hands, compared to its average volume of 14,582,350. The company has a current ratio of 0.34, a quick ratio of 0.26 and a debt-to-equity ratio of 1.24. Krispy Kreme has a 1-year low of $2.50 and a 1-year high of $12.27. The firm has a market capitalization of $669.39 million, a PE ratio of -1.48 and a beta of 1.33. The business has a fifty day moving average of $3.50 and a 200-day moving average of $3.41.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on DNUT shares. Morgan Stanley decreased their price objective on Krispy Kreme from $3.00 to $2.50 and set an “overweight” rating on the stock in a report on Monday, July 14th. Singular Research raised Krispy Kreme to a “moderate buy” rating in a report on Wednesday, October 22nd. Bank of America decreased their price target on Krispy Kreme from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Friday, July 18th. Zacks Research lowered Krispy Kreme from a “hold” rating to a “strong sell” rating in a research note on Monday, August 25th. Finally, BNP Paribas Exane lowered Krispy Kreme from an “outperform” rating to a “neutral” rating and set a $3.50 price target on the stock. in a research note on Monday, July 21st. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $6.45.

Institutional Investors Weigh In On Krispy Kreme

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Captrust Financial Advisors bought a new stake in Krispy Kreme in the second quarter valued at about $34,000. Two Sigma Securities LLC bought a new stake in shares of Krispy Kreme in the second quarter worth about $344,000. Oxford Asset Management LLP bought a new stake in shares of Krispy Kreme in the second quarter worth about $42,000. Engineers Gate Manager LP bought a new stake in shares of Krispy Kreme in the second quarter worth about $183,000. Finally, Balyasny Asset Management L.P. bought a new stake in shares of Krispy Kreme in the second quarter worth about $1,567,000. Institutional investors own 81.72% of the company’s stock.

About Krispy Kreme

Krispy Kreme, Inc, together with its subsidiaries, produces doughnuts in the United States, the United Kingdom, Ireland, Australia, New Zealand, Mexico, Canada, Japan, and internationally. The company operates through three segments: U.S., International, and Market Development. The company offers doughnut experiences through hot light theater and fresh shops, delivered fresh daily branded cabinets and merchandising units within grocery and convenience stores, quick service restaurants, club memberships, drug stores, and ecommerce, as well as through its branded sweet treat line comprising Krispy Kreme branded sweet treats.