$0.05 Earnings Per Share Expected for Digi International Inc. (NASDAQ:DGII) This Quarter
Equities research analysts expect Digi International Inc. (NASDAQ:DGII) to post earnings per share of $0.05 for the current quarter, according to Zacks. Zero analysts have issued estimates for Digi International’s earnings. Digi International posted earnings of $0.15 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 66.7%. The firm is expected to issue its next quarterly earnings results after the market closes on Thursday, July 27th.
According to Zacks, analysts expect that Digi International will report full year earnings of $0.26 per share for the current year. For the next year, analysts expect that the business will post earnings of $0.37 per share. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Digi International.
Digi International (NASDAQ:DGII) last issued its earnings results on Thursday, May 4th. The technology company reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by $0.03. Digi International had a net margin of 6.11% and a return on equity of 3.76%. The firm had revenue of $45.61 million during the quarter, compared to the consensus estimate of $48.30 million. During the same period in the previous year, the company posted $0.09 EPS. The firm’s revenue for the quarter was down 9.1% on a year-over-year basis.
DGII has been the subject of several analyst reports. Zacks Investment Research lowered shares of Digi International from a “buy” rating to a “hold” rating in a report on Wednesday, March 29th. Benchmark Co. assumed coverage on shares of Digi International in a research note on Tuesday, April 25th. They issued a “buy” rating and a $16.00 price objective for the company. Sidoti upgraded shares of Digi International from a “neutral” rating to a “buy” rating in a research note on Tuesday, May 23rd. Finally, TheStreet lowered shares of Digi International from a “b-” rating to a “c+” rating in a research note on Tuesday, May 30th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $15.75.
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A number of hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new stake in shares of Digi International during the first quarter worth approximately $106,000. OppenheimerFunds Inc. acquired a new stake in shares of Digi International during the first quarter worth approximately $148,000. Arizona State Retirement System raised its stake in shares of Digi International by 3.0% in the first quarter. Arizona State Retirement System now owns 13,741 shares of the technology company’s stock worth $164,000 after buying an additional 400 shares during the period. Thrivent Financial For Lutherans raised its stake in shares of Digi International by 6.3% in the first quarter. Thrivent Financial For Lutherans now owns 14,920 shares of the technology company’s stock worth $178,000 after buying an additional 880 shares during the period. Finally, Thrivent Financial for Lutherans raised its stake in shares of Digi International by 6.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 14,040 shares of the technology company’s stock worth $193,000 after buying an additional 860 shares during the period. Institutional investors and hedge funds own 77.74% of the company’s stock.
Shares of Digi International (NASDAQ:DGII) remained flat at $10.00 during midday trading on Thursday. 72,500 shares of the company were exchanged. The company has a 50-day moving average of $9.74 and a 200-day moving average of $11.94. Digi International has a 12 month low of $9.00 and a 12 month high of $14.15. The company has a market capitalization of $265.37 million, a PE ratio of 22.88 and a beta of 1.44.
About Digi International
Digi International Inc is a provider of mission and business-critical machine-to-machine (M2M) and Internet-of-Things (IoT) connectivity products and services. The Company creates connected products and deploys and manages critical communications infrastructures in a range of environments. It offers four categories of hardware products: cellular routers and gateways, radio frequency (RF), embedded and network products.
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