33 days have passed by since the last earnings report for Criteo S.A. (NASDAQ:CRTO) and the new quarterly results look set to arrive in 58 days. The shares of CRTO at the moment are trading at a volume of 0.38 million, which compares with its normal daily standard volume of 450489 shares. This has led to the shares of the company advancing by 0.41%, currently exchanging hands at $19.42 a share. CRTO stock has been up by $11.43 (-37.05%) ever since it reached its 52-week high of $30.85 back in February 13, 2019. It has progressed above its 50-day moving average of $18.82 and is up 4.86% over the past week. The stock has added 5% since the last one arrived so the question here is that will the upbeat trend in that time frame continue leading up to its next earnings release, or is the CRTO share price due for a correction?
Criteo S.A. (CRTO) Forecasts And Latest Quarter Earnings
Ahead of their fiscal third-quarter to be released on Wednesday, Oct 30, 2019, 18 analysts who are covering the company are estimating that it will record a profit of $0.49 per share, with analysts having different outlooks from $0.4 to $0.56. The current agreed outlook, when compared to the profit recorded last year, is at $0.53 a share, thus a decrease of -7.55% is expected. The profit view for a complete financial year for Criteo S.A. is expected to be around $2.46 in current year, a growth of nearly -1.2% from last year which was $2.49.
Analyzing The Earnings History Of Criteo S.A. (NASDAQ:CRTO)
In the past few years, the CRTO stock has been known to miss the Wall Street’s earnings projection. The company missed 16% of the time, according to the data pulled on their earnings, was able to meet predictions on 0 occasions and topped expectations 10 times. Looking at the past trend, the price of Criteo S.A. shares had risen following the release of their earnings in 11 of the last 22 quarters.
Looking back, here is how Criteo S.A. (CRTO) stock reacted to earnings misses and beats. It gave investors reason to be bullish with the price going down after 1 of the last four earnings reports. The shares of Criteo S.A. recorded 2.54%, -11.89%, 8.42% and 9.16%, respectively, on the first day of past earnings releases. After a week of earnings reports, the changes were 7.46%, -13.59%, 6.59% and 4.8%. Their post-earnings price movements have resulted in an average increase of 2.06% and an average increase of 1.32% in Criteo S.A. on next day and 7th day, sequentially. CRTO’s one month stock performance led to its shares declining by -2.17% with a return of -26.16% witnessed over the last 52 weeks.
The lower number of analysts at Reuters has assigned a buy or better ratings (6) on the Criteo S.A. stock, while 14 of them have a rating of a Hold with the 11-year target price suggested by the analysts standing at $24.14. This price target implies potential upside of 24.3 percent over the next 12 months based on the current share price.
Criteo S.A. (CRTO) Post Earnings Announcement Drift (PEAD)
Back on July 31, 2019, Criteo S.A. (NASDAQ:CRTO) released its Q2 results, in which it recorded EPS of $0.47 that exceeded consensus estimates of $0.41. After the earnings were reported, the price of CRTO stock kicked off the session at $18.63 and remained in a range of $19.5 to $20.46 on the first day. The shares were priced at $18.97 at the close with a total volume of shares being 1129359.
On April 30, 2019, the Q1 earnings report was disclosed with EPS of $0.6. This was above the estimation of $0.44 per share. The stock price range of CRTO was between $19.85 and $20.37 on the first-day post announcement, after opening the day at $18.9. The session came to close at $19.78 and there was a total volume of 2602205 shares.
February 13, 2019 was the day when its Q4 results were unveiled. The earnings came in at $0.84, beating the projected $0.73 per share. The very next day, CRTO stock opened at $27.1 while staying in a range of $29.9 to $30.85. At the end, it moved to $27.82 a total volume of shares been 3028413.
In the year-ago Q3 earnings on October 31, 2018, the company saw profit per share of $0.53. That was better than the $0.48 analysts had expected. Criteo S.A. share price started at $19.87 on the first full trading day post-earning and then exchanged hands between $21.34 and $22.78 throughout the session. The closing price of $22.52 came on the back of 1344222 shares in volume.