$12.40 Million in Sales Expected for SITO Mobile, Ltd. (SITO) This Quarter
Brokerages expect SITO Mobile, Ltd. (NASDAQ:SITO) to report $12.40 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for SITO Mobile’s earnings. The highest sales estimate is $12.50 million and the lowest is $12.30 million. SITO Mobile posted sales of $7.46 million in the same quarter last year, which would indicate a positive year over year growth rate of 66.2%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, March 27th.
According to Zacks, analysts expect that SITO Mobile will report full-year sales of $12.40 million for the current year, with estimates ranging from $40.90 million to $41.00 million. For the next fiscal year, analysts anticipate that the company will report sales of $52.50 million per share, with estimates ranging from $51.20 million to $53.80 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow SITO Mobile.
SITO Mobile (NASDAQ:SITO) last announced its quarterly earnings data on Tuesday, November 14th. The Wireless communications provider reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The firm had revenue of $11.10 million for the quarter, compared to analysts’ expectations of $11.34 million. SITO Mobile had a negative net margin of 29.34% and a negative return on equity of 47.82%. SITO Mobile’s revenue for the quarter was up 29.7% compared to the same quarter last year.
SITO has been the topic of several recent analyst reports. Lake Street Capital initiated coverage on shares of SITO Mobile in a research note on Wednesday, October 25th. They set a “buy” rating and a $10.00 price objective on the stock. Maxim Group reissued a “buy” rating and set a $8.00 price objective (up previously from $5.00) on shares of SITO Mobile in a research note on Wednesday, September 27th. Zacks Investment Research downgraded shares of SITO Mobile from a “hold” rating to a “sell” rating in a research note on Thursday, August 24th. increased their price target on shares of SITO Mobile from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, November 15th. Finally, ValuEngine raised shares of SITO Mobile from a “sell” rating to a “hold” rating in a research note on Friday, September 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $8.83.
A number of large investors have recently bought and sold shares of the business. Cannell Peter B & Co. Inc. raised its stake in SITO Mobile by 10.7% during the third quarter. Cannell Peter B & Co. Inc. now owns 882,995 shares of the Wireless communications provider’s stock worth $6,305,000 after purchasing an additional 85,300 shares during the period. National Asset Management Inc. raised its stake in SITO Mobile by 36.4% during the third quarter. National Asset Management Inc. now owns 682,000 shares of the Wireless communications provider’s stock worth $4,870,000 after purchasing an additional 182,000 shares during the period. Regentatlantic Capital LLC raised its stake in SITO Mobile by 9.5% during the second quarter. Regentatlantic Capital LLC now owns 88,079 shares of the Wireless communications provider’s stock worth $327,000 after purchasing an additional 7,673 shares during the period. Finally, Private Advisor Group LLC purchased a new position in SITO Mobile during the third quarter worth approximately $204,000. 15.07% of the stock is currently owned by institutional investors.
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Shares of SITO Mobile (NASDAQ:SITO) traded down $0.13 on Thursday, hitting $7.70. 267,700 shares of the company traded hands, compared to its average volume of 219,436. SITO Mobile has a fifty-two week low of $1.71 and a fifty-two week high of $8.60.
About SITO Mobile
SITO Mobile, Ltd. operates a mobile location-based advertising platform serving businesses, advertisers and brands. The Company’s offerings include SITO Location-Based Advertising and SITO Mobile Messaging. SITO Location-Based Advertising delivers display advertisements and videos on behalf of advertisers, including various features, such as Geo-fencing, Verified walk-in, Behavioral Targeting, and Analytics and Optimization.
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