Zacks: Brokerages Expect DigitalGlobe, Inc (NYSE:DGI) Will Announce Quarterly Sales of $216.37 Million
Wall Street brokerages forecast that DigitalGlobe, Inc (NYSE:DGI) will post sales of $216.37 million for the current quarter, Zacks reports. Three analysts have provided estimates for DigitalGlobe’s earnings, with the lowest sales estimate coming in at $213.53 million and the highest estimate coming in at $218.60 million. DigitalGlobe reported sales of $181.80 million during the same quarter last year, which indicates a positive year over year growth rate of 19%. The firm is scheduled to report its next earnings results on Tuesday, October 24th.
According to Zacks, analysts expect that DigitalGlobe will report full year sales of $216.37 million for the current financial year, with estimates ranging from $850.00 million to $880.00 million. For the next financial year, analysts expect that the firm will report sales of $897.77 million per share, with estimates ranging from $883.63 million to $905.00 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for DigitalGlobe.
DigitalGlobe (NYSE:DGI) last announced its quarterly earnings results on Thursday, July 20th. The technology company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.07. The firm had revenue of $225.70 million for the quarter, compared to the consensus estimate of $209.13 million. DigitalGlobe had a return on equity of 2.40% and a net margin of 0.64%. The business’s revenue was up 28.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.17 earnings per share.
A number of equities analysts have issued reports on the stock. BidaskClub upgraded shares of DigitalGlobe from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Piper Jaffray Companies cut shares of DigitalGlobe from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $37.00 to $34.00 in a research report on Friday, July 21st. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $33.75.
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DigitalGlobe (NYSE DGI) opened at 34.65 on Wednesday. The firm’s 50-day moving average price is $33.36 and its 200-day moving average price is $31.91. The firm has a market cap of $2.16 billion, a P/E ratio of 1019.12 and a beta of 1.02. DigitalGlobe has a 12 month low of $23.95 and a 12 month high of $35.95.
In related news, EVP Walter S. Scott sold 16,200 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $31.62, for a total transaction of $512,244.00. Following the sale, the executive vice president now owns 109,037 shares of the company’s stock, valued at $3,447,749.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Warren Jenson sold 32,512 shares of the business’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $31.73, for a total transaction of $1,031,605.76. Following the sale, the director now directly owns 41,236 shares in the company, valued at approximately $1,308,418.28. The disclosure for this sale can be found here. Insiders have sold 52,570 shares of company stock worth $1,666,341 in the last three months. 2.30% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of DigitalGlobe by 13,624.9% in the first quarter. BlackRock Inc. now owns 5,158,901 shares of the technology company’s stock valued at $168,955,000 after buying an additional 5,121,313 shares in the last quarter. Vanguard Group Inc. increased its position in shares of DigitalGlobe by 2.4% in the first quarter. Vanguard Group Inc. now owns 4,895,296 shares of the technology company’s stock valued at $160,321,000 after buying an additional 112,694 shares in the last quarter. Shapiro Capital Management LLC increased its position in shares of DigitalGlobe by 106.9% in the first quarter. Shapiro Capital Management LLC now owns 4,006,441 shares of the technology company’s stock valued at $131,211,000 after buying an additional 2,070,230 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of DigitalGlobe by 17.0% in the first quarter. JPMorgan Chase & Co. now owns 2,229,580 shares of the technology company’s stock valued at $73,019,000 after buying an additional 324,644 shares in the last quarter. Finally, State Street Corp increased its position in shares of DigitalGlobe by 2.7% in the first quarter. State Street Corp now owns 1,465,236 shares of the technology company’s stock valued at $47,987,000 after buying an additional 38,113 shares in the last quarter. Hedge funds and other institutional investors own 98.53% of the company’s stock.
DigitalGlobe, Inc is a provider of Earth imagery, data and analysis. The Company’s imagery solutions and other services support a range of uses, including mission-planning, mapping and analysis, environmental monitoring, oil and gas exploration and infrastructure management. The Company’s imagery solutions and other services are sourced from its own satellite constellation and third-party providers.
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