DTS Trading 12% Higher After Better-Than-Expected Earnings (DTSI)
DTS (NASDAQ:DTSI) traded up 12% on Tuesday after the company announced better than expected quarterly earnings, AR Network reports. The stock traded as high as $21.29 and last traded at $21.05, with a volume of 264,975 shares traded. The stock had previously closed at $18.79.
The company reported $0.47 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.14 by $0.33. The company had revenue of $36.20 million for the quarter, compared to the consensus estimate of $28.48 million. During the same quarter in the prior year, the company posted $0.11 earnings per share. The company’s quarterly revenue was up 33.1% on a year-over-year basis.
A number of analysts have recently weighed in on DTSI shares. Analysts at Cowen and Company raised their price target on shares of DTS from $20.50 to $21.00 in a research note on Tuesday. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of DTS from $19.50 to $22.50 in a research note on Tuesday. Finally, analysts at B. Riley initiated coverage on shares of DTS in a research note on Tuesday, July 1st. They set a “buy” rating and a $24.00 price target on the stock.
The stock’s 50-day moving average is $18.78 and its 200-day moving average is $19.13. The company has a market cap of $363.8 million and a P/E ratio of 14.95.
DTS, Inc is a provider of audio technologies that are incorporated into a range of consumer electronics devices by hundreds of licensee customers worldwide.
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