Zacks: Brokerages Anticipate ePlus inc. (PLUS) Will Post Earnings of $1.12 Per Share
Wall Street analysts expect ePlus inc. (NASDAQ:PLUS) to report $1.12 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for ePlus inc.’s earnings, with the lowest EPS estimate coming in at $1.02 and the highest estimate coming in at $1.22. ePlus inc. reported earnings of $1.24 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 9.7%. The firm is scheduled to announce its next quarterly earnings results on Thursday, November 2nd.
On average, analysts expect that ePlus inc. will report full year earnings of $3.91 per share for the current financial year, with EPS estimates ranging from $3.88 to $3.93. For the next financial year, analysts anticipate that the company will post earnings of $4.28 per share, with EPS estimates ranging from $4.16 to $4.39. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow ePlus inc..
Several equities analysts have commented on PLUS shares. Zacks Investment Research downgraded shares of ePlus inc. from a “buy” rating to a “sell” rating in a research note on Tuesday, May 30th. ValuEngine downgraded shares of ePlus inc. from a “buy” rating to a “hold” rating in a research note on Friday, May 26th. Stifel Nicolaus restated a “hold” rating and issued a $75.00 price target on shares of ePlus inc. in a research note on Thursday, August 3rd. Finally, BidaskClub downgraded shares of ePlus inc. from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 9th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $45.80.
In related news, Director John E. Callies sold 1,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $83.15, for a total transaction of $83,150.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bruce M. Bowen sold 400 shares of the business’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $82.57, for a total transaction of $33,028.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,614 shares of company stock valued at $561,610. Insiders own 3.25% of the company’s stock.
Several hedge funds have recently modified their holdings of PLUS. BlackRock Inc. grew its stake in shares of ePlus inc. by 84,983.9% during the first quarter. BlackRock Inc. now owns 792,982 shares of the software maker’s stock worth $107,092,000 after purchasing an additional 792,050 shares in the last quarter. FMR LLC grew its stake in shares of ePlus inc. by 171.3% during the second quarter. FMR LLC now owns 959,478 shares of the software maker’s stock worth $71,097,000 after purchasing an additional 605,842 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of ePlus inc. by 96.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,173,675 shares of the software maker’s stock worth $86,970,000 after purchasing an additional 576,536 shares in the last quarter. Fiduciary Management Inc. WI grew its stake in shares of ePlus inc. by 102.6% during the second quarter. Fiduciary Management Inc. WI now owns 1,063,046 shares of the software maker’s stock worth $78,772,000 after purchasing an additional 538,286 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of ePlus inc. by 101.5% during the second quarter. Vanguard Group Inc. now owns 919,169 shares of the software maker’s stock worth $68,110,000 after purchasing an additional 462,907 shares in the last quarter. Hedge funds and other institutional investors own 86.94% of the company’s stock.
Shares of ePlus inc. (PLUS) traded down 2.25% during mid-day trading on Friday, reaching $78.05. The company’s stock had a trading volume of 109,876 shares. The stock has a market cap of $1.11 billion, a P/E ratio of 20.47 and a beta of 1.42. ePlus inc. has a one year low of $63.76 and a one year high of $141.00. The stock has a 50 day moving average of $81.87 and a 200-day moving average of $87.18.
ePlus inc. declared that its Board of Directors has approved a share repurchase program on Friday, August 18th that permits the company to buyback 500,000 shares. This buyback authorization permits the software maker to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
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ePlus inc. Company Profile
ePlus inc. is a holding company. The Company is engaged in the business of selling, leasing, financing and managing information technology. It operates through two segments: technology and financing. The technology segment sells information technology (IT) hardware products, third-party software and maintenance contracts, its own and third-party professional and managed services, and its software.
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