Box, Inc. (BOX) Expected to Announce Earnings of -$0.29 Per Share
Equities research analysts forecast that Box, Inc. (NYSE:BOX) will post earnings per share (EPS) of ($0.29) for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Box’s earnings. The lowest EPS estimate is ($0.32) and the highest is ($0.21). Box also posted earnings per share of ($0.29) in the same quarter last year. The company is scheduled to report its next quarterly earnings results on Wednesday, August 30th.
On average, analysts expect that Box will report full-year earnings of ($1.14) per share for the current fiscal year, with EPS estimates ranging from ($1.24) to ($0.85). For the next financial year, analysts forecast that the business will post earnings of ($0.99) per share, with EPS estimates ranging from ($1.25) to ($0.52). Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Box.
Box (NYSE:BOX) last issued its quarterly earnings results on Wednesday, May 31st. The software maker reported ($0.13) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.01. Box had a negative return on equity of 187.98% and a negative net margin of 36.01%. The company had revenue of $117.20 million for the quarter, compared to analysts’ expectations of $114.70 million. During the same period in the prior year, the firm earned ($0.18) earnings per share. The firm’s revenue for the quarter was up 29.9% on a year-over-year basis.
Several research analysts recently weighed in on BOX shares. Drexel Hamilton restated a “buy” rating and set a $26.00 target price on shares of Box in a research note on Friday, March 31st. Wells Fargo & Company restated an “outperform” rating and set a $27.00 target price (up from $24.00) on shares of Box in a research note on Thursday, June 1st. Oppenheimer Holdings, Inc. set a $21.00 target price on Box and gave the stock a “buy” rating in a research note on Thursday, March 2nd. Morgan Stanley restated an “equal weight” rating and set a $20.00 target price (up from $19.00) on shares of Box in a research note on Thursday, June 1st. Finally, Rosenblatt Securities restated a “buy” rating and set a $25.00 target price on shares of Box in a research note on Saturday, March 4th. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $22.24.
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In other news, COO Daniel J. Levin sold 20,000 shares of the stock in a transaction on Wednesday, April 5th. The stock was sold at an average price of $17.00, for a total value of $340,000.00. Following the sale, the chief operating officer now directly owns 3,752 shares in the company, valued at $63,784. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Daniel J. Levin sold 40,000 shares of the stock in a transaction on Monday, May 15th. The shares were sold at an average price of $18.46, for a total value of $738,400.00. Following the completion of the sale, the chief operating officer now owns 3,752 shares in the company, valued at $69,261.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,418,934 shares of company stock worth $26,545,466. Insiders own 22.30% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. State Street Corp boosted its stake in shares of Box by 5.8% in the fourth quarter. State Street Corp now owns 825,560 shares of the software maker’s stock valued at $11,442,000 after buying an additional 45,024 shares during the last quarter. Renaissance Technologies LLC raised its position in Box by 27.7% in the fourth quarter. Renaissance Technologies LLC now owns 278,800 shares of the software maker’s stock valued at $3,864,000 after buying an additional 60,500 shares during the period. Capital One National Association raised its position in Box by 1.3% in the first quarter. Capital One National Association now owns 24,481 shares of the software maker’s stock valued at $399,000 after buying an additional 309 shares during the period. Jasper Ridge Partners L.P. raised its position in Box by 40.6% in the first quarter. Jasper Ridge Partners L.P. now owns 26,478 shares of the software maker’s stock valued at $432,000 after buying an additional 7,642 shares during the period. Finally, Marcus Capital LLC raised its position in Box by 18.4% in the first quarter. Marcus Capital LLC now owns 176,350 shares of the software maker’s stock valued at $2,876,000 after buying an additional 27,350 shares during the period. Institutional investors and hedge funds own 36.51% of the company’s stock.
Box (NYSE:BOX) traded down 4.19% during midday trading on Thursday, reaching $18.06. The company’s stock had a trading volume of 2,329,905 shares. The company’s market cap is $2.37 billion. The firm has a 50 day moving average price of $18.68 and a 200-day moving average price of $17.12. Box has a 12-month low of $9.86 and a 12-month high of $20.91.
Box Company Profile
Box, Inc provides an enterprise content management platform that enables organizations of all sizes to manage enterprise content while allowing access and sharing of this content from anywhere, on any device. With the Company’s Software-as-a-Service (SaaS) cloud-based platform, users can collaborate on content both internally and with external parties, automate content-driven business processes, develop custom applications, and implement data protection, security and compliance features to comply with internal policies and industry regulations.
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