Wall Street brokerages expect Insight Enterprises, Inc. (NASDAQ:NSIT) to announce $1.81 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Insight Enterprises’ earnings, with the highest sales estimate coming in at $1.83 billion and the lowest estimate coming in at $1.79 billion. Insight Enterprises posted sales of $1.84 billion in the same quarter last year, which suggests a negative year over year growth rate of 1.6%. The firm is expected to report its next quarterly earnings report on Wednesday, August 7th.
On average, analysts expect that Insight Enterprises will report full year sales of $7.21 billion for the current financial year, with estimates ranging from $7.18 billion to $7.25 billion. For the next financial year, analysts expect that the business will report sales of $7.44 billion, with estimates ranging from $7.42 billion to $7.46 billion. Zacks’ sales averages are an average based on a survey of analysts that cover Insight Enterprises.
Insight Enterprises (NASDAQ:NSIT) last announced its quarterly earnings results on Wednesday, May 1st. The software maker reported $1.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.20. The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. Insight Enterprises had a return on equity of 17.80% and a net margin of 2.42%. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.90 earnings per share.
A number of brokerages recently issued reports on NSIT. BidaskClub downgraded Insight Enterprises from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 30th. Zacks Investment Research raised Insight Enterprises from a “hold” rating to a “strong-buy” rating and set a $62.00 price target for the company in a report on Tuesday, February 19th. Finally, B. Riley reaffirmed a “buy” rating on shares of Insight Enterprises in a report on Monday, April 29th.
Shares of NSIT opened at $55.54 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.53 and a quick ratio of 1.39. The company has a market capitalization of $2.01 billion, a P/E ratio of 12.00 and a beta of 1.16. Insight Enterprises has a 52-week low of $37.77 and a 52-week high of $60.10.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. NumerixS Investment Technologies Inc acquired a new stake in shares of Insight Enterprises in the fourth quarter valued at approximately $40,000. Sun Life Financial INC acquired a new stake in shares of Insight Enterprises in the fourth quarter valued at approximately $65,000. Advisor Group Inc. boosted its holdings in shares of Insight Enterprises by 415.9% in the first quarter. Advisor Group Inc. now owns 2,306 shares of the software maker’s stock valued at $126,000 after acquiring an additional 1,859 shares during the period. Quantamental Technologies LLC acquired a new stake in shares of Insight Enterprises in the fourth quarter valued at approximately $137,000. Finally, Cambria Investment Management L.P. acquired a new stake in shares of Insight Enterprises in the first quarter valued at approximately $175,000. 98.68% of the stock is owned by hedge funds and other institutional investors.
About Insight Enterprises
Insight Enterprises, Inc provides information technology (IT) hardware, software, and services solutions in the United States, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. It sources, procures, stages, configures, integrates, tests, deploys, and maintains IT products spanning endpoints to infrastructure; and offers software life cycle, and hardware warranty and software maintenance services.
Featured Story: Leveraged Buyout (LBO)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Insight Enterprises Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Insight Enterprises and related companies with MarketBeat.com's FREE daily email newsletter.