Brokerages Anticipate Insight Enterprises, Inc. (NSIT) to Announce $0.95 Earnings Per Share
Wall Street brokerages expect that Insight Enterprises, Inc. (NASDAQ:NSIT) will post earnings per share (EPS) of $0.95 for the current quarter, according to Zacks. Three analysts have provided estimates for Insight Enterprises’ earnings. The lowest EPS estimate is $0.88 and the highest is $1.00. Insight Enterprises posted earnings of $0.97 per share in the same quarter last year, which would suggest a negative year over year growth rate of 2.1%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, August 2nd.
On average, analysts expect that Insight Enterprises will report full-year earnings of $3.08 per share for the current financial year, with EPS estimates ranging from $3.06 to $3.09. For the next year, analysts expect that the company will report earnings of $3.34 per share, with EPS estimates ranging from $3.20 to $3.46. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Insight Enterprises.
Insight Enterprises (NASDAQ:NSIT) last posted its earnings results on Wednesday, May 3rd. The software maker reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.27. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Insight Enterprises had a return on equity of 14.68% and a net margin of 1.58%. The firm’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.21 earnings per share.
NSIT has been the topic of a number of recent analyst reports. Zacks Investment Research raised Insight Enterprises from a “sell” rating to a “hold” rating in a research note on Wednesday, April 5th. Raymond James Financial, Inc. reissued an “underperform” rating on shares of Insight Enterprises in a research note on Thursday, May 4th. Stifel Nicolaus upped their price objective on Insight Enterprises from $36.00 to $42.00 and gave the stock a “hold” rating in a report on Thursday, May 4th. Finally, B. Riley restated a “neutral” rating and set a $48.00 price objective on shares of Insight Enterprises in a report on Sunday, May 7th.
Shares of Insight Enterprises (NSIT) opened at 43.11 on Tuesday. Insight Enterprises has a 1-year low of $24.23 and a 1-year high of $53.19. The firm’s 50-day moving average price is $43.01 and its 200 day moving average price is $40.98. The firm has a market cap of $1.54 billion, a PE ratio of 17.01 and a beta of 1.67.
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In other news, CFO Glynis Bryan sold 3,946 shares of the company’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $42.00, for a total transaction of $165,732.00. Following the completion of the sale, the chief financial officer now directly owns 39,643 shares in the company, valued at approximately $1,665,006. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.23% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of Insight Enterprises by 32,650.5% in the first quarter. BlackRock Inc. now owns 4,523,829 shares of the software maker’s stock valued at $185,884,000 after buying an additional 4,510,016 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Insight Enterprises by 4.6% in the first quarter. Vanguard Group Inc. now owns 3,242,716 shares of the software maker’s stock valued at $133,243,000 after buying an additional 144,077 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Insight Enterprises by 5.8% in the first quarter. Acadian Asset Management LLC now owns 1,308,316 shares of the software maker’s stock valued at $53,758,000 after buying an additional 72,041 shares in the last quarter. State Street Corp increased its stake in shares of Insight Enterprises by 8.3% in the fourth quarter. State Street Corp now owns 962,152 shares of the software maker’s stock valued at $38,906,000 after buying an additional 73,705 shares in the last quarter. Finally, Aberdeen Asset Management PLC UK increased its stake in shares of Insight Enterprises by 23.5% in the first quarter. Aberdeen Asset Management PLC UK now owns 945,702 shares of the software maker’s stock valued at $38,859,000 after buying an additional 180,256 shares in the last quarter. Hedge funds and other institutional investors own 97.85% of the company’s stock.
About Insight Enterprises
Insight Enterprises, Inc is engaged in providing information technology (IT) hardware, software, and cloud and service solutions to business, government, healthcare and educational clients. The Company operates through three segments: North America, EMEA and APAC. North America comprises the United States and Canada; EMEA comprises Europe, the Middle East and Africa, and APAC comprises Asia Pacific.
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