Sito Mobile Ltd (SITO) Expected to Post Earnings of -$0.03 Per Share

Equities analysts expect Sito Mobile Ltd (NASDAQ:SITO) to report earnings of ($0.03) per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Sito Mobile’s earnings, with the highest EPS estimate coming in at ($0.03) and the lowest estimate coming in at ($0.04). Sito Mobile reported earnings of ($0.07) per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 57.1%. The firm is scheduled to issue its next earnings results on Tuesday, March 27th.

According to Zacks, analysts expect that Sito Mobile will report full year earnings of ($0.53) per share for the current year, with EPS estimates ranging from ($0.59) to ($0.47). For the next fiscal year, analysts anticipate that the business will post earnings of ($0.20) per share, with EPS estimates ranging from ($0.39) to ($0.10). Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that cover Sito Mobile.

Sito Mobile (NASDAQ:SITO) last announced its earnings results on Tuesday, November 14th. The Wireless communications provider reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). The company had revenue of $11.10 million for the quarter, compared to analysts’ expectations of $11.34 million. Sito Mobile had a negative net margin of 29.34% and a negative return on equity of 47.82%. The company’s revenue was up 29.7% on a year-over-year basis.

A number of equities research analysts have weighed in on SITO shares. Lake Street Capital initiated coverage on shares of Sito Mobile in a research note on Wednesday, October 25th. They set a “buy” rating and a $10.00 target price for the company. boosted their price objective on shares of 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 shares of Sito Mobile and gave the company a “buy” rating in a research report on Wednesday, November 15th. Cowen reissued an “outperform” rating on shares of Sito Mobile in a research report on Wednesday, November 15th. Finally, Zacks Investment Research raised shares of Sito Mobile from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $9.00.

Shares of Sito Mobile (NASDAQ:SITO) opened at $5.00 on Thursday. The firm has a market cap of $109.52, a price-to-earnings ratio of -9.80 and a beta of -1.60. Sito Mobile has a 12 month low of $1.71 and a 12 month high of $8.60.

In other Sito Mobile news, CEO Thomas Pallack acquired 5,625 shares of the business’s stock in a transaction dated Friday, December 29th. The stock was purchased at an average price of $6.60 per share, with a total value of $37,125.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.46% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN boosted its holdings in Sito Mobile by 570.3% in the 4th quarter. Wells Fargo & Company MN now owns 17,628 shares of the Wireless communications provider’s stock worth $119,000 after buying an additional 14,998 shares during the period. Virtu Financial LLC bought a new position in Sito Mobile in the 4th quarter worth $120,000. Monashee Investment Management LLC bought a new position in Sito Mobile in the 4th quarter worth $126,000. Private Advisor Group LLC bought a new position in Sito Mobile in the 3rd quarter worth $204,000. Finally, Millennium Management LLC bought a new position in Sito Mobile in the 4th quarter worth $818,000. 12.08% of the stock is owned by institutional investors.

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Sito Mobile Company Profile

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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