DigitalGlobe Inc. (DGI) Downgraded by Zacks Investment Research
DigitalGlobe Inc. (NYSE:DGI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “DigitalGlobe, Inc. is a global provider of commercial high-resolution earth imagery products and services. The company’s products include DigitalGlobe System, QuickBird satellite, ImageAtlas; and GlobeXplorer. DigitalGlobe System offers collection and archival of geospatial information data and QuickBird satellite, which provides commercial resolution imaging systems. DigitalGlobe operates a constellation of high resolution earth imaging satellites, possesses a growing aerial imagery network and offers a comprehensive geoinformation product store – DigitalGlobe.com – that allows quick access and order a wide variety of imagery and derivative information products. DigitalGlobe conducts its business through two segments: defense and intelligence, and commercial. Headquartered in Longmont, Colorado, the company operates as a subsidiary of Morgan Stanley & Co. Inc. “
A number of other equities research analysts have also recently weighed in on DGI. Dougherty & Co upped their price objective on shares of DigitalGlobe from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, July 29th. JPMorgan Chase & Co. upped their price objective on shares of DigitalGlobe from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, July 29th. Piper Jaffray Cos. restated an “overweight” rating and issued a $32.00 price objective on shares of DigitalGlobe in a report on Wednesday, August 31st. Jefferies Group restated a “buy” rating and issued a $30.00 price objective on shares of DigitalGlobe in a report on Tuesday, September 13th. Finally, Benchmark Co. reiterated a “hold” rating and issued a $20.00 target price on shares of DigitalGlobe in a research note on Wednesday, September 21st. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $27.88.
Shares of DigitalGlobe (NYSE:DGI) traded up 1.07% during midday trading on Wednesday, hitting $27.52. 589,208 shares of the stock traded hands. DigitalGlobe has a 52 week low of $11.80 and a 52 week high of $28.33. The company’s 50-day moving average is $26.80 and its 200 day moving average is $22.23. The firm has a market capitalization of $1.72 billion, a PE ratio of 52.52 and a beta of 0.38.
DigitalGlobe (NYSE:DGI) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.11. The business had revenue of $175.50 million for the quarter, compared to analysts’ expectations of $168.71 million. DigitalGlobe had a net margin of 5.54% and a return on equity of 3.18%. The business’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.09 earnings per share. Analysts anticipate that DigitalGlobe will post $0.45 earnings per share for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Pacad Investment Ltd. bought a new position in shares of DigitalGlobe during the second quarter worth $109,000. Teacher Retirement System of Texas increased its position in shares of DigitalGlobe by 12.1% in the second quarter. Teacher Retirement System of Texas now owns 9,115 shares of the company’s stock worth $195,000 after buying an additional 985 shares during the period. Acrospire Investment Management LLC bought a new position in shares of DigitalGlobe during the first quarter worth $204,000. Bbva Compass Bancshares Inc. bought a new position in shares of DigitalGlobe during the second quarter worth $221,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of DigitalGlobe during the second quarter worth $246,000.
DigitalGlobe, Inc is a provider of high-resolution Earth-imagery products and services. The Company’s imagery solutions support a range of users in defense and intelligence, civil agencies, mapping and analysis, environmental monitoring, oil and gas exploration, infrastructure management, Internet portals and navigation technology.
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