Brokerages Expect ePlus Inc. (PLUS) Will Post Quarterly Sales of $344.25 Million
Equities analysts predict that ePlus Inc. (NASDAQ:PLUS) will announce $344.25 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for ePlus’ earnings. The highest sales estimate is $351.20 million and the lowest is $337.30 million. ePlus reported sales of $326.66 million during the same quarter last year, which would indicate a positive year over year growth rate of 5.4%. The company is expected to issue its next earnings results on Thursday, February 1st.
According to Zacks, analysts expect that ePlus will report full-year sales of $344.25 million for the current financial year, with estimates ranging from $1.42 billion to $1.45 billion. For the next financial year, analysts expect that the firm will report sales of $1.53 billion per share, with estimates ranging from $1.51 billion to $1.55 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover ePlus.
PLUS has been the subject of a number of research analyst reports. Zacks Investment Research lowered ePlus from a “buy” rating to a “hold” rating in a report on Friday, August 18th. ValuEngine lowered ePlus from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Stifel Nicolaus restated a “hold” rating and issued a $75.00 target price on shares of ePlus in a research note on Tuesday, September 12th. Finally, BidaskClub lowered ePlus from a “buy” rating to a “hold” rating in a research note on Saturday, December 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $58.77.
A number of institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio raised its stake in ePlus by 27.2% during the third quarter. Public Employees Retirement System of Ohio now owns 20,954 shares of the software maker’s stock worth $1,937,000 after acquiring an additional 4,479 shares in the last quarter. California Public Employees Retirement System raised its stake in ePlus by 1.3% during the third quarter. California Public Employees Retirement System now owns 68,004 shares of the software maker’s stock worth $6,287,000 after acquiring an additional 904 shares in the last quarter. Atlanta Capital Management Co. L L C acquired a new position in ePlus during the third quarter worth $10,529,000. Chevy Chase Trust Holdings Inc. acquired a new position in ePlus during the third quarter worth $222,000. Finally, Uniplan Investment Counsel Inc. raised its stake in ePlus by 11.1% during the third quarter. Uniplan Investment Counsel Inc. now owns 114,136 shares of the software maker’s stock worth $10,551,000 after acquiring an additional 11,421 shares in the last quarter. Hedge funds and other institutional investors own 89.72% of the company’s stock.
ePlus (PLUS) opened at $75.60 on Thursday. ePlus has a 1-year low of $54.28 and a 1-year high of $97.75. The company has a market capitalization of $1,065.69, a P/E ratio of 19.21 and a beta of 1.28. The company has a current ratio of 1.65, a quick ratio of 1.50 and a debt-to-equity ratio of 0.01.
ePlus declared that its Board of Directors has approved a share repurchase plan on Friday, August 18th that permits the company to repurchase 500,000 shares. This repurchase authorization permits the software maker to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
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ePlus 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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