Latham Group (SWIM) to Release Earnings on Tuesday

Latham Group (NASDAQ:SWIM) will be issuing its quarterly earnings data after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of ($0.15) per share for the quarter. Latham Group has set its FY 2024 guidance at EPS.Investors that wish to listen to the company’s conference call can do so using this link.

Latham Group (NASDAQ:SWIM) last announced its earnings results on Tuesday, March 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.08. The company had revenue of $90.90 million for the quarter, compared to analyst estimates of $86.95 million. Latham Group had a negative return on equity of 0.62% and a negative net margin of 0.42%. Latham Group’s quarterly revenue was down 15.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.17) EPS. On average, analysts expect Latham Group to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Latham Group Stock Up 8.1 %

Shares of Latham Group stock opened at $2.81 on Monday. The business has a 50-day moving average price of $3.28 and a 200 day moving average price of $2.79. Latham Group has a fifty-two week low of $2.04 and a fifty-two week high of $4.77. The firm has a market cap of $324.25 million, a P/E ratio of -93.67 and a beta of 1.67. The company has a quick ratio of 1.64, a current ratio of 2.77 and a debt-to-equity ratio of 0.70.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Bank of America downgraded Latham Group from a “buy” rating to an “underperform” rating and decreased their target price for the company from $4.50 to $2.60 in a research note on Wednesday, March 13th. Stifel Nicolaus upgraded shares of Latham Group from a “hold” rating to a “buy” rating and upped their target price for the stock from $3.00 to $4.00 in a research report on Monday, March 18th.

Insider Buying and Selling at Latham Group

In other Latham Group news, CEO Scott Michael Rajeski sold 24,913 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $3.05, for a total value of $75,984.65. Following the completion of the sale, the chief executive officer now directly owns 266,143 shares in the company, valued at $811,736.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Scott Michael Rajeski sold 24,913 shares of Latham Group stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $3.05, for a total value of $75,984.65. Following the transaction, the chief executive officer now directly owns 266,143 shares of the company’s stock, valued at $811,736.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Oliver C. Gloe bought 27,500 shares of the stock in a transaction on Friday, March 15th. The shares were acquired at an average cost of $2.92 per share, for a total transaction of $80,300.00. Following the purchase, the chief financial officer now owns 292,922 shares in the company, valued at $855,332.24. The disclosure for this purchase can be found here. Insiders have sold 54,383 shares of company stock valued at $165,868 in the last quarter. Corporate insiders own 8.60% of the company’s stock.

Latham Group Company Profile

Latham Group, Inc designs, manufactures, and markets in-ground residential swimming pools in North America, Australia, and New Zealand. It offers a portfolio of pools and related products, including in-ground swimming pools that include fiber glass and packaged pools; and pool covers and liners under the Latham, Narellan, CoverStar, Radiant, and GLI brand names.