Zacks: Analysts Anticipate Whole Earth Brands, Inc. (NASDAQ:FREE) Will Post Quarterly Sales of $139.27 Million

Analysts forecast that Whole Earth Brands, Inc. (NASDAQ:FREE) will report sales of $139.27 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Whole Earth Brands’ earnings. The lowest sales estimate is $134.50 million and the highest is $147.00 million. Whole Earth Brands reported sales of $75.69 million in the same quarter last year, which indicates a positive year over year growth rate of 84%. The company is expected to issue its next quarterly earnings report on Tuesday, March 15th.

According to Zacks, analysts expect that Whole Earth Brands will report full-year sales of $500.46 million for the current fiscal year, with estimates ranging from $495.78 million to $508.00 million. For the next fiscal year, analysts anticipate that the firm will post sales of $545.84 million, with estimates ranging from $540.13 million to $550.40 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Whole Earth Brands.

Whole Earth Brands (NASDAQ:FREE) last posted its earnings results on Tuesday, November 9th. The company reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.03). Whole Earth Brands had a negative net margin of 1.06% and a positive return on equity of 4.92%. The firm had revenue of $128.94 million during the quarter, compared to analysts’ expectations of $129.00 million. During the same period in the previous year, the firm posted ($0.07) earnings per share.

A number of equities research analysts recently weighed in on FREE shares. Jefferies Financial Group started coverage on Whole Earth Brands in a report on Thursday, September 30th. They issued a “buy” rating and a $22.00 price target on the stock. Roth Capital upped their target price on Whole Earth Brands from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, September 24th. Zacks Investment Research raised Whole Earth Brands from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Finally, Cowen assumed coverage on Whole Earth Brands in a research note on Wednesday, December 15th. They set an “outperform” rating and a $16.00 price target on the stock. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $18.67.

Institutional investors and hedge funds have recently modified their holdings of the stock. Ameritas Investment Partners Inc. acquired a new stake in shares of Whole Earth Brands during the second quarter valued at about $42,000. Legal & General Group Plc bought a new position in shares of Whole Earth Brands during the second quarter worth about $53,000. FORA Capital LLC lifted its position in shares of Whole Earth Brands by 55.0% during the second quarter. FORA Capital LLC now owns 5,492 shares of the company’s stock worth $80,000 after purchasing an additional 1,949 shares during the last quarter. Royal Bank of Canada bought a new position in shares of Whole Earth Brands during the second quarter worth about $81,000. Finally, Trust Co. of Vermont lifted its position in shares of Whole Earth Brands by 24.9% during the third quarter. Trust Co. of Vermont now owns 10,027 shares of the company’s stock worth $116,000 after purchasing an additional 2,000 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Shares of FREE stock opened at $10.01 on Wednesday. Whole Earth Brands has a 52-week low of $9.65 and a 52-week high of $14.95. The stock’s 50-day moving average price is $10.99 and its 200 day moving average price is $11.92. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.96 and a current ratio of 2.43.

About Whole Earth Brands

Act II Global Acquisition Corp. is a blank check company. It intends to focus on the business of following sector: consumer packaged goods, consumables and hospitality including restaurants. The company was founded on August 16, 2018 and is headquartered in New York, NY.

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Earnings History and Estimates for Whole Earth Brands (NASDAQ:FREE)

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