$19.17 Million in Sales Expected for Teligent, Inc. (TLGT) This Quarter
Analysts expect that Teligent, Inc. (NASDAQ:TLGT) will report $19.17 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Teligent’s earnings, with the highest sales estimate coming in at $19.90 million and the lowest estimate coming in at $18.70 million. Teligent posted sales of $16.15 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 18.7%. The company is scheduled to report its next earnings report on Thursday, October 26th.
On average, analysts expect that Teligent will report full-year sales of $19.17 million for the current financial year, with estimates ranging from $80.10 million to $80.90 million. For the next fiscal year, analysts forecast that the firm will report sales of $118.31 million per share, with estimates ranging from $109.58 million to $136.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Teligent.
Teligent (NASDAQ:TLGT) last released its quarterly earnings data on Tuesday, August 8th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.04). The business had revenue of $18.40 million during the quarter, compared to analyst estimates of $20.11 million. Teligent had a negative net margin of 11.36% and a positive return on equity of 1.49%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the business earned $0.02 earnings per share.
TLGT has been the subject of several recent analyst reports. Zacks Investment Research cut Teligent from a “hold” rating to a “sell” rating in a research report on Thursday, July 6th. Deutsche Bank AG restated a “hold” rating and set a $9.00 target price (up from $8.00) on shares of Teligent in a research report on Monday, July 17th. Canaccord Genuity initiated coverage on Teligent in a research report on Monday, July 31st. They set a “buy” rating and a $11.00 target price for the company. BidaskClub cut Teligent from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Finally, ValuEngine cut Teligent from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Teligent currently has an average rating of “Hold” and an average price target of $9.33.
Teligent (TLGT) traded down 2.28% during mid-day trading on Wednesday, reaching $6.00. The company had a trading volume of 291,605 shares. The stock’s market capitalization is $320.35 million. Teligent has a 12-month low of $5.74 and a 12-month high of $9.54. The stock has a 50 day moving average price of $6.81 and a 200-day moving average price of $6.81.
Institutional investors and hedge funds have recently bought and sold shares of the company. Parkwood LLC purchased a new position in shares of Teligent in the 2nd quarter worth about $112,000. UBS Asset Management Americas Inc. purchased a new position in shares of Teligent in the 1st quarter worth about $170,000. Voya Investment Management LLC boosted its holdings in shares of Teligent by 16.1% in the 2nd quarter. Voya Investment Management LLC now owns 23,342 shares of the company’s stock worth $214,000 after purchasing an additional 3,234 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Teligent in the 1st quarter worth about $198,000. Finally, American International Group Inc. boosted its holdings in shares of Teligent by 7.1% in the 1st quarter. American International Group Inc. now owns 25,488 shares of the company’s stock worth $199,000 after purchasing an additional 1,680 shares in the last quarter. Hedge funds and other institutional investors own 66.61% of the company’s stock.
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Teligent, Inc is a specialty generic pharmaceutical company. Under the Company’s own label, it markets and sells generic injectable pharmaceutical products in the United States and Canada. In the United States it marketed 16 generic topical pharmaceutical products and four branded generic pharmaceutical products, as of December 31, 2016.
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