$0.05 Earnings Per Share Expected for Digi International Inc. (DGII) This Quarter
Equities analysts forecast that Digi International Inc. (NASDAQ:DGII) will post earnings of $0.05 per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Digi International’s earnings. Digi International reported earnings per share of $0.15 during the same quarter last year, which would suggest a negative year-over-year growth rate of 66.7%. The business is scheduled to announce its next earnings report on Thursday, July 27th.
On average, analysts expect that Digi International will report full-year earnings of $0.26 per share for the current year. For the next year, analysts expect that the company will report earnings of $0.37 per share. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Digi International.
Digi International (NASDAQ:DGII) last released its earnings results on Thursday, May 4th. The technology company reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.08 by $0.03. The business had revenue of $45.61 million during the quarter, compared to analysts’ expectations of $48.30 million. Digi International had a net margin of 6.11% and a return on equity of 3.76%. Digi International’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.09 EPS.
DGII has been the subject of several research analyst reports. Zacks Investment Research lowered shares of Digi International from a “buy” rating to a “hold” rating in a report on Wednesday, March 29th. Benchmark Co. initiated coverage on shares of Digi International in a report on Tuesday, April 25th. They issued a “buy” rating and a $16.00 price target for the company. TheStreet lowered shares of Digi International from a “b-” rating to a “c+” rating in a report on Tuesday, May 30th. Finally, Sidoti raised shares of Digi International from a “neutral” rating to a “buy” rating in a report on Tuesday, May 23rd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $15.75.
Shares of Digi International (DGII) opened at 10.00 on Thursday. Digi International has a 12-month low of $9.00 and a 12-month high of $14.15. The stock has a 50 day moving average price of $9.74 and a 200-day moving average price of $11.94. The stock has a market cap of $265.37 million, a price-to-earnings ratio of 22.88 and a beta of 1.45.
A number of large investors have recently bought and sold shares of DGII. Russell Investments Group Ltd. bought a new stake in Digi International during the fourth quarter valued at approximately $2,102,000. State Street Corp boosted its stake in Digi International by 3.4% in the fourth quarter. State Street Corp now owns 710,559 shares of the technology company’s stock valued at $9,769,000 after buying an additional 23,146 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in Digi International by 12.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 18,076 shares of the technology company’s stock valued at $249,000 after buying an additional 2,065 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in Digi International by 6.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 14,040 shares of the technology company’s stock valued at $193,000 after buying an additional 860 shares in the last quarter. Finally, Nationwide Fund Advisors boosted its stake in Digi International by 48.3% in the first quarter. Nationwide Fund Advisors now owns 55,049 shares of the technology company’s stock valued at $655,000 after buying an additional 17,924 shares in the last quarter. 77.74% of the stock is currently owned by institutional investors and hedge funds.
About Digi International
Digi International Inc is a provider of mission and business-critical machine-to-machine (M2M) and Internet-of-Things (IoT) connectivity products and services. The Company creates connected products and deploys and manages critical communications infrastructures in a range of environments. It offers four categories of hardware products: cellular routers and gateways, radio frequency (RF), embedded and network products.
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