Brokerages Expect Instructure, Inc. (INST) Will Announce Earnings of -$0.31 Per Share
Brokerages forecast that Instructure, Inc. (NYSE:INST) will post earnings per share of ($0.31) for the current quarter, according to Zacks. Five analysts have issued estimates for Instructure’s earnings, with estimates ranging from ($0.31) to ($0.30). Instructure reported earnings per share of ($0.34) during the same quarter last year, which suggests a positive year-over-year growth rate of 8.8%. The company is scheduled to issue its next earnings results on Monday, October 30th.
According to Zacks, analysts expect that Instructure will report full-year earnings of ($1.24) per share for the current financial year, with EPS estimates ranging from ($1.25) to ($1.23). For the next year, analysts expect that the business will report earnings of ($0.77) per share, with EPS estimates ranging from ($0.83) to ($0.56). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that follow Instructure.
Instructure (NYSE:INST) last posted its earnings results on Monday, July 31st. The technology company reported ($0.46) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.50) by $0.04. Instructure had a negative return on equity of 827.22% and a negative net margin of 38.12%. The firm had revenue of $38.00 million for the quarter, compared to analysts’ expectations of $37.09 million. During the same period last year, the firm earned ($0.44) EPS. The company’s quarterly revenue was up 46.7% on a year-over-year basis.
INST has been the topic of a number of recent analyst reports. Jefferies Group LLC reiterated a “buy” rating and set a $30.00 price target on shares of Instructure in a research note on Friday, June 2nd. First Analysis boosted their price target on shares of Instructure from $34.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, July 27th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $38.00 price target (up from $33.00) on shares of Instructure in a research note on Wednesday, August 2nd. ValuEngine upgraded shares of Instructure from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research upgraded shares of Instructure from a “hold” rating to a “strong-buy” rating and set a $34.00 price target on the stock in a research note on Monday, July 3rd. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $35.63.
Shares of Instructure (NYSE INST) opened at 31.75 on Friday. Instructure has a 52-week low of $17.85 and a 52-week high of $34.10. The stock’s 50 day moving average price is $30.70 and its 200-day moving average price is $27.02. The firm’s market capitalization is $932.78 million.
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In other Instructure news, EVP Marc T. Maloy sold 2,000 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $29.11, for a total transaction of $58,220.00. Following the transaction, the executive vice president now directly owns 13,272 shares in the company, valued at $386,347.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Steven B. Kaminsky sold 10,000 shares of the company’s stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now owns 150,459 shares in the company, valued at $4,513,770. The disclosure for this sale can be found here. Insiders have sold 36,650 shares of company stock worth $1,102,718 over the last 90 days. 62.50% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in INST. Janus Henderson Group PLC purchased a new stake in shares of Instructure in the second quarter valued at about $34,748,000. Whale Rock Capital Management LLC purchased a new stake in shares of Instructure in the first quarter valued at about $26,000,000. Nine Ten Capital Management LLC lifted its holdings in shares of Instructure by 60.2% in the first quarter. Nine Ten Capital Management LLC now owns 2,631,124 shares of the technology company’s stock valued at $61,568,000 after purchasing an additional 988,396 shares in the last quarter. SQN Investors LP lifted its holdings in shares of Instructure by 89.3% in the second quarter. SQN Investors LP now owns 1,343,919 shares of the technology company’s stock valued at $39,646,000 after purchasing an additional 633,875 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Instructure by 519.2% in the second quarter. Renaissance Technologies LLC now owns 664,590 shares of the technology company’s stock valued at $19,605,000 after purchasing an additional 557,255 shares in the last quarter. 78.33% of the stock is currently owned by institutional investors.
Instructure Company Profile
Instructure, Inc provides cloud-based learning management platform for academic institutions and companies across the world. The Company operates in the cloud-based learning management systems segment. The Company builds its learning management applications, Canvas for the education market and Bridge for the corporate market, to enable its customers to develop, deliver and manage face-to-face and online learning experiences.
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