-$0.03 Earnings Per Share Expected for Sito Mobile Ltd (SITO) This Quarter

Wall Street brokerages forecast that Sito Mobile Ltd (NASDAQ:SITO) will announce ($0.03) earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have provided estimates for Sito Mobile’s earnings, with estimates ranging from ($0.04) to ($0.03). Sito Mobile posted earnings per share of ($0.07) during the same quarter last year, which indicates a positive year over year growth rate of 57.1%. The company is scheduled to announce its next earnings results on Tuesday, March 27th.

According to Zacks, analysts expect that Sito Mobile will report full-year earnings of ($0.47) per share for the current fiscal year, with EPS estimates ranging from ($0.47) to ($0.46). For the next financial year, analysts forecast that the business will post earnings of ($0.14) per share, with EPS estimates ranging from ($0.21) to ($0.10). Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Sito Mobile.

Sito Mobile (NASDAQ:SITO) last announced its quarterly earnings data on Tuesday, November 14th. The Wireless communications provider reported ($0.12) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.06). The business had revenue of $11.10 million during the quarter, compared to the consensus estimate of $11.34 million. Sito Mobile had a negative net margin of 29.34% and a negative return on equity of 47.82%. The firm’s revenue was up 29.7% on a year-over-year basis.

SITO has been the topic of several research analyst reports. Ladenburg Thalmann Financial Services raised Sito Mobile from a “neutral” rating to a “buy” rating and set a $10.00 price objective on the stock in a research report on Thursday, December 14th. upped their price objective on Sito Mobile from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, November 15th. Maxim Group set a $10.00 price objective on Sito Mobile and gave the company a “buy” rating in a research report on Wednesday, November 15th. Craig Hallum raised Sito Mobile from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research report on Monday, October 30th. Finally, Lake Street Capital started coverage on Sito Mobile in a research report on Wednesday, October 25th. They set a “buy” rating and a $10.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $9.00.

In other news, CEO Thomas Pallack purchased 5,625 shares of the company’s stock in a transaction dated Friday, December 29th. The shares were acquired at an average price of $6.60 per share, with a total value of $37,125.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 6.50% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of SITO. Private Advisor Group LLC bought a new position in shares of Sito Mobile during the 3rd quarter worth $204,000. National Asset Management Inc. grew its position in shares of Sito Mobile by 270.4% during the 2nd quarter. National Asset Management Inc. now owns 500,000 shares of the Wireless communications provider’s stock worth $1,855,000 after buying an additional 365,000 shares in the last quarter. Finally, Cannell Peter B & Co. Inc. grew its position in shares of Sito Mobile by 10.7% during the 3rd quarter. Cannell Peter B & Co. Inc. now owns 882,995 shares of the Wireless communications provider’s stock worth $6,305,000 after buying an additional 85,300 shares in the last quarter. 12.48% of the stock is currently owned by institutional investors and hedge funds.

Sito Mobile (NASDAQ:SITO) opened at $6.34 on Monday. The company has a market capitalization of $139.66, a price-to-earnings ratio of -10.75 and a beta of -1.21. Sito Mobile has a 12-month low of $1.71 and a 12-month high of $8.60.

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About Sito Mobile

SITO Mobile, Ltd. operates a mobile location-based advertising platform serving businesses, advertisers and brands. The Company’s offerings include SITO Location-Based Advertising and SITO Mobile Messaging. SITO Location-Based Advertising delivers display advertisements and videos on behalf of advertisers, including various features, such as Geo-fencing, Verified walk-in, Behavioral Targeting, and Analytics and Optimization.

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