Equities Analysts Issue Forecasts for SITO Mobile Ltd.’s Q3 2016 Earnings (SITO)
SITO Mobile Ltd. (NASDAQ:SITO) – Equities researchers at Taglich Brothers raised their Q3 2016 earnings per share (EPS) estimates for SITO Mobile in a report issued on Monday. Taglich Brothers analyst J. Nobile now forecasts that the brokerage will post earnings of $0.04 per share for the quarter, up from their prior forecast of ($0.03). Taglich Brothers also issued estimates for SITO Mobile’s Q4 2016 earnings at $0.06 EPS, FY2016 earnings at $0.08 EPS, Q1 2017 earnings at $0.06 EPS, Q2 2017 earnings at $0.06 EPS, Q3 2017 earnings at $0.06 EPS, Q4 2017 earnings at $0.07 EPS and FY2017 earnings at $0.25 EPS.
A number of other brokerages also recently issued reports on SITO. Zacks Investment Research raised SITO Mobile from a “hold” rating to a “buy” rating and set a $5.75 target price for the company in a research note on Wednesday, September 7th. Aegis assumed coverage on SITO Mobile in a research note on Monday, September 12th. They set a “buy” rating and a $6.50 target price for the company. Finally, Craig Hallum assumed coverage on SITO Mobile in a research note on Wednesday, July 6th. They set a “buy” rating and a $6.50 target price for the company.
SITO Mobile (NASDAQ:SITO) traded down 2.75% during mid-day trading on Thursday, reaching $4.96. 42,723 shares of the company were exchanged. The company’s 50 day moving average price is $4.81 and its 200-day moving average price is $3.78. The stock’s market capitalization is $86.19 million. SITO Mobile has a 12-month low of $1.55 and a 12-month high of $6.08.
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SITO Mobile (NASDAQ:SITO) last posted its earnings results on Monday, August 15th. The company reported $0.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.08. SITO Mobile had a negative net margin of 12.28% and a negative return on equity of 48.98%.
Several large investors have recently added to or reduced their stakes in the company. Cannell Peter B & Co. Inc. boosted its stake in SITO Mobile by 20.2% in the second quarter. Cannell Peter B & Co. Inc. now owns 541,695 shares of the company’s stock worth $1,961,000 after buying an additional 91,000 shares in the last quarter. Baird Financial Group Inc. purchased a new stake in SITO Mobile during the second quarter worth $235,000. Finally, BlackRock Fund Advisors boosted its stake in SITO Mobile by 917.7% in the second quarter. BlackRock Fund Advisors now owns 30,420 shares of the company’s stock worth $110,000 after buying an additional 27,431 shares in the last quarter. Institutional investors and hedge funds own 16.05% of the company’s stock.
About SITO Mobile
SITO Mobile Ltd., formerly Single Touch Systems Inc, is a provider of mobile location-based advertising platform serving businesses, advertisers and brands. The Company provides solutions through its platform, which allows marketers to create content targeted to audiences, based on location, interests, behaviors and loyalty.
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