Brokerages expect Black Diamond, Inc. (NASDAQ:BDE) to announce sales of $30.63 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Black Diamond’s earnings, with the lowest sales estimate coming in at $30.50 million and the highest estimate coming in at $30.80 million. Black Diamond posted sales of $29.14 million in the same quarter last year, which would indicate a positive year over year growth rate of 5.1%. The company is expected to issue its next quarterly earnings report after the market closes on Monday, August 7th.

According to Zacks, analysts expect that Black Diamond will report full-year sales of $30.63 million for the current fiscal year, with estimates ranging from $155.03 million to $157.80 million. For the next fiscal year, analysts forecast that the firm will report sales of $164.45 million per share, with estimates ranging from $161.65 million to $167.30 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Black Diamond.

Black Diamond (NASDAQ:BDE) last released its quarterly earnings data on Monday, May 8th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $41.56 million during the quarter, compared to analyst estimates of $39.22 million. Black Diamond had a negative return on equity of 0.03% and a negative net margin of 4.24%. The company’s revenue was up 8.8% compared to the same quarter last year. During the same period last year, the company posted ($0.07) EPS.

Separately, Zacks Investment Research upgraded shares of Black Diamond from a “hold” rating to a “buy” rating and set a $7.25 price objective for the company in a research note on Tuesday.

Large investors have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its stake in shares of Black Diamond by 62.6% in the fourth quarter. Renaissance Technologies LLC now owns 626,300 shares of the company’s stock worth $3,351,000 after buying an additional 241,200 shares during the last quarter. Two Sigma Investments LP boosted its stake in shares of Black Diamond by 149.7% in the fourth quarter. Two Sigma Investments LP now owns 116,873 shares of the company’s stock worth $625,000 after buying an additional 70,060 shares during the last quarter. Searle & CO. purchased a new stake in shares of Black Diamond during the fourth quarter worth about $300,000. Marquette Asset Management Inc. purchased a new stake in shares of Black Diamond during the first quarter worth about $125,000. Finally, Essex Investment Management Co. LLC boosted its stake in shares of Black Diamond by 31.5% in the first quarter. Essex Investment Management Co. LLC now owns 166,712 shares of the company’s stock worth $909,000 after buying an additional 39,961 shares during the last quarter. 44.83% of the stock is currently owned by institutional investors.

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Shares of Black Diamond (NASDAQ:BDE) opened at 6.55 on Thursday. The stock has a 50 day moving average price of $6.63 and a 200 day moving average price of $5.88. Black Diamond has a 12 month low of $4.15 and a 12 month high of $7.10.

About Black Diamond

Black Diamond, Inc, through its ownership of Black Diamond Equipment, Ltd., is engaged in designing, manufacturing and marketing of active outdoor performance equipment and apparel for climbing, mountaineering, backpacking, skiing and a range of other year-round outdoor recreation activities. Its principal brands include Black Diamond and PIEPS.

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