Absolute Software (NASDAQ:ABST) Issues FY 2021 Earnings Guidance

Absolute Software (NASDAQ:ABST) issued an update on its FY 2021 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $- for the period. The company issued revenue guidance of $119 million-120 million.

NASDAQ:ABST opened at $13.95 on Friday. The company has a market cap of $690.68 million, a price-to-earnings ratio of 73.42 and a beta of 0.89. Absolute Software has a 1 year low of $8.98 and a 1 year high of $21.20. The company has a 50 day moving average of $14.20.

Absolute Software (NASDAQ:ABST) last posted its quarterly earnings data on Monday, May 10th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01. The business had revenue of $30.65 million during the quarter, compared to analyst estimates of $29.63 million. Absolute Software had a negative return on equity of 19.49% and a net margin of 7.71%. Research analysts anticipate that Absolute Software will post 0.2 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 28th. Investors of record on Friday, May 14th were paid a dividend of $0.0639 per share. This is a positive change from Absolute Software’s previous quarterly dividend of $0.06. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend was Thursday, May 13th. Absolute Software’s dividend payout ratio (DPR) is currently 108.33%.

A number of equities research analysts recently issued reports on the company. BMO Capital Markets decreased their price target on Absolute Software from $21.00 to $20.00 and set a market perform rating for the company in a research note on Wednesday, May 12th. National Bank Financial reduced their price objective on Absolute Software from C$21.00 to C$20.00 and set a sector perform rating on the stock in a report on Thursday, May 13th. Raymond James raised their price objective on Absolute Software from $17.00 to $18.00 and gave the stock an outperform rating in a report on Wednesday, May 12th. Desjardins assumed coverage on Absolute Software in a report on Tuesday, March 23rd. They set a buy rating on the stock. Finally, Canaccord Genuity raised their price objective on Absolute Software from $20.00 to $22.00 and gave the stock a buy rating in a report on Wednesday, May 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $20.00.

About Absolute Software

Absolute Software Corporation develops, markets, and provides cloud-based endpoint visibility and control platform for the management and security of computing devices, applications, and data for enterprise and public sector organizations. The company offers the Absolute platform to provide the connectivity, visibility, and control of data and devices of the operating system; to recover automatically to a secure operational state without user intervention; to support various other security controls and productivity tools from decay and vulnerabilities; and to enable measurement of the health, compliance, and state of decay of endpoint security controls and productivity tools, as well as for reporting and analytics, geotechnology, and endpoint investigation and recovery applications.

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Earnings History and Estimates for Absolute Software (NASDAQ:ABST)

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