DigitalGlobe Trading 10.9% Higher Following Better-Than-Expected Earnings (DGI)
DigitalGlobe (NYSE:DGI) shares traded up 10.9% on Friday after the company announced better than expected quarterly earnings, AR Network reports. The stock traded as high as $29.88 and last traded at $28.99, with a volume of 1,034,309 shares changing hands. The stock had previously closed at $26.15.
The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.07. The company had revenue of $157.80 million for the quarter, compared to the consensus estimate of $156.18 million. During the same quarter in the previous year, the company posted ($0.30) earnings per share. The company’s revenue for the quarter was up 4.8% on a year-over-year basis.
DGI has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of DigitalGlobe from a “neutral” rating to an “outperform” rating in a research note on Wednesday, July 2nd. They now have a $33.40 price target on the stock. Analysts at JPMorgan Chase & Co. reiterated a “hold” rating on shares of DigitalGlobe in a research note on Friday, June 13th. They now have a $34.50 price target on the stock, up previously from $31.50. One analyst has rated the stock with a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $32.98.
The stock has a 50-day moving average of $28.09 and a 200-day moving average of $31.88. The company’s market cap is $2.199 billion.
DigitalGlobe, Inc (NYSE:DGI) is a global provider of commercial earth imagery products and information services.
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