iGATE Corp. (IGTE) to Release Earnings on Thursday
iGATE Corp. (NASDAQ:IGTE) will post its Q313 quarterly earnings results on Thursday, October 10th. Analysts expect iGATE Corp. to post earnings of $0.43 per share and revenue of $289.40 million for the quarter.
iGATE Corp. (NASDAQ:IGTE) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $0.44 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.34 by $0.10. The company had revenue of $283.30 million for the quarter, compared to the consensus estimate of $279.28 million. During the same quarter in the prior year, the company posted $0.28 earnings per share. The company’s quarterly revenue was up 5.7% on a year-over-year basis.
Shares of iGATE Corp. (NASDAQ:IGTE) opened at 27.14 on Wednesday. iGATE Corp. has a one year low of $13.98 and a one year high of $28.86. The stock has a 50-day moving average of $25.83 and a 200-day moving average of $19.84. The company has a market cap of $1.572 billion and a P/E ratio of 25.08.
A number of analysts have recently weighed in on IGTE shares. Analysts at Nomura downgraded shares of iGATE Corp. from a “buy” rating to a “neutral” rating in a research note to investors on Friday, October 4th. On the ratings front, analysts at Needham & Company raised their price target on shares of iGATE Corp. from $28.00 to $33.00 in a research note to investors on Thursday, September 19th. They now have a “buy” rating on the stock. Finally, analysts at Janney Montgomery Scott upgraded shares of iGATE Corp. from a “neutral” rating to a “buy” rating in a research note to investors on Wednesday, September 11th. They now have a $30.00 price target on the stock, up previously from $20.00. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $26.06.
iGATE Corporation (NASDAQ:IGTE) is an outsourcing provider of integrated end-to-end offshore centric information technology (IT) and IT-enabled operations solutions and services.
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