Electronics for Imaging, Inc. (EFII) Expected to Post Quarterly Sales of $258.09 Million
Brokerages expect Electronics for Imaging, Inc. (NASDAQ:EFII) to announce sales of $258.09 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Electronics for Imaging’s earnings, with the lowest sales estimate coming in at $258.00 million and the highest estimate coming in at $258.27 million. Electronics for Imaging posted sales of $245.58 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 on Monday, October 23rd.
According to Zacks, analysts expect that Electronics for Imaging will report full-year sales of $258.09 million for the current fiscal year, with estimates ranging from $1.01 billion to $1.03 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.12 billion per share, with estimates ranging from $1.10 billion to $1.15 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Electronics for Imaging.
Electronics for Imaging (NASDAQ:EFII) last announced its quarterly earnings results on Monday, September 11th. The technology company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.02). Electronics for Imaging had a return on equity of 5.58% and a net margin of 4.70%. The business had revenue of $247.00 million during the quarter, compared to the consensus estimate of $247.65 million. During the same quarter in the prior year, the firm posted $0.56 EPS. The company’s revenue for the quarter was up .5% on a year-over-year basis.
Several research analysts recently commented on EFII shares. Barclays PLC reissued a “buy” rating and issued a $47.00 price objective on shares of Electronics for Imaging in a research note on Thursday, September 14th. ValuEngine downgraded Electronics for Imaging from a “hold” rating to a “sell” rating in a research note on Friday, September 8th. TheStreet downgraded Electronics for Imaging from a “b-” rating to a “c” rating in a research note on Friday, August 4th. Morgan Stanley increased their price objective on Electronics for Imaging from $29.00 to $33.00 and gave the company an “underweight” rating in a research note on Friday, September 22nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $48.00 price objective (up from $45.00) on shares of Electronics for Imaging in a research note on Tuesday, September 12th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $51.44.
In other Electronics for Imaging news, CEO Guy Gecht sold 13,746 shares of the firm’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $48.21, for a total value of $662,694.66. Following the completion of the sale, the chief executive officer now directly owns 386,760 shares of the company’s stock, valued at approximately $18,645,699.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 40,746 shares of company stock valued at $1,850,965 over the last ninety days. Corporate insiders own 1.88% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Electronics for Imaging by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 4,202,705 shares of the technology company’s stock worth $199,125,000 after acquiring an additional 34,640 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Electronics for Imaging by 3.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,566,893 shares of the technology company’s stock worth $125,342,000 after purchasing an additional 81,880 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Electronics for Imaging by 4.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,990,609 shares of the technology company’s stock worth $97,201,000 after purchasing an additional 82,956 shares during the last quarter. Macquarie Group Ltd. increased its position in shares of Electronics for Imaging by 3.1% during the 2nd quarter. Macquarie Group Ltd. now owns 1,321,566 shares of the technology company’s stock worth $62,616,000 after purchasing an additional 39,357 shares during the last quarter. Finally, Voya Investment Management LLC increased its position in shares of Electronics for Imaging by 14.9% during the 2nd quarter. Voya Investment Management LLC now owns 1,179,368 shares of the technology company’s stock worth $55,879,000 after purchasing an additional 153,119 shares during the last quarter.
Shares of Electronics for Imaging (NASDAQ EFII) opened at 43.00 on Friday. The company has a market cap of $1.99 billion, a PE ratio of 44.56 and a beta of 1.30. Electronics for Imaging has a 12 month low of $25.54 and a 12 month high of $51.15. The company has a 50-day moving average of $38.75 and a 200 day moving average of $44.49.
Electronics for Imaging announced that its Board of Directors has initiated a share repurchase program on Monday, September 11th that authorizes the company to repurchase $125.00 million in shares. This repurchase authorization authorizes the technology company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
Electronics for Imaging Company Profile
Electronics For Imaging, Inc is engaged in digital printing, focused on the transformation of the printing, packaging, ceramic tile decoration, and textile industries from the use of traditional analog-based printing to digital on-demand printing. It operates through three segments. The Industrial Inkjet segment consists of its VUTEk and Matan super-wide and wide format display graphics, Reggiani textile, Jetrion label and packaging and Cretaprint ceramic tile decoration and construction material industrial digital inkjet printers; ceramic, water-based, and thermoforming ink, and digital inkjet printer parts, and professional services.
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