Zacks: Analysts Expect Li-Cycle Holdings Corp. (NYSE:LICY) to Post -$0.09 EPS

Wall Street brokerages predict that Li-Cycle Holdings Corp. (NYSE:LICYGet Rating) will announce earnings per share of ($0.09) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Li-Cycle’s earnings, with the highest EPS estimate coming in at ($0.05) and the lowest estimate coming in at ($0.11). The firm is scheduled to issue its next earnings report on Monday, January 1st.

On average, analysts expect that Li-Cycle will report full year earnings of ($0.27) per share for the current year, with EPS estimates ranging from ($0.46) to ($0.13). For the next financial year, analysts forecast that the business will report earnings of ($0.33) per share, with EPS estimates ranging from ($0.65) to ($0.02). Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for Li-Cycle.

Li-Cycle (NYSE:LICYGet Rating) last released its quarterly earnings data on Thursday, March 17th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.26. Li-Cycle had a negative net margin of 1,875.11% and a negative return on equity of 15.84%. The business had revenue of $3.84 million for the quarter.

Several research analysts have recently weighed in on LICY shares. Morgan Stanley downgraded shares of Li-Cycle from an “overweight” rating to an “equal weight” rating and set a $10.00 target price on the stock. in a research report on Thursday, February 10th. Citigroup reduced their price objective on shares of Li-Cycle from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, April 7th. Finally, Zacks Investment Research upgraded shares of Li-Cycle from a “sell” rating to a “hold” rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Li-Cycle currently has a consensus rating of “Buy” and an average price target of $13.44.

Li-Cycle stock traded up $0.06 during trading hours on Friday, hitting $8.03. 25,032 shares of the company traded hands, compared to its average volume of 1,897,370. The firm’s 50-day simple moving average is $7.54 and its two-hundred day simple moving average is $8.84. The company has a quick ratio of 26.98, a current ratio of 27.12 and a debt-to-equity ratio of 0.17. Li-Cycle has a 1-year low of $5.90 and a 1-year high of $14.28.

Several large investors have recently added to or reduced their stakes in the company. Moore Capital Management LP acquired a new position in Li-Cycle in the third quarter valued at approximately $58,500,000. Covalis Capital LLP raised its position in Li-Cycle by 51.5% in the 4th quarter. Covalis Capital LLP now owns 4,355,478 shares of the company’s stock valued at $43,381,000 after buying an additional 1,480,206 shares during the last quarter. Invesco Ltd. bought a new position in Li-Cycle in the 3rd quarter valued at $39,101,000. CIBC Private Wealth Group LLC bought a new position in Li-Cycle in the 4th quarter valued at $18,918,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in Li-Cycle in the 4th quarter valued at $18,684,000. Institutional investors own 24.38% of the company’s stock.

About Li-Cycle (Get Rating)

Li-Cycle Holdings Corp. engages in the lithium-ion battery resource recovery and lithium-ion battery recycling business in North America. The company offers a mix of cathode and anode battery materials, including lithium, nickel, and cobalt, as well as graphite, copper, and aluminum; and copper and aluminum metals.

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Earnings History and Estimates for Li-Cycle (NYSE:LICY)

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