Taglich Brothers Analysts Raise Earnings Estimates for SITO Mobile Ltd. (SITO)
SITO Mobile Ltd. (NASDAQ:SITO) – Analysts at Taglich Brothers lifted their Q3 2016 earnings per share estimates for shares of SITO Mobile in a note issued to investors on Monday. Taglich Brothers analyst J. Nobile now forecasts that the brokerage will post earnings of $0.04 per share for the quarter, up from their previous estimate of ($0.03). Taglich Brothers also issued estimates for SITO Mobile’s Q4 2016 earnings at $0.06 EPS, FY2016 earnings at $0.08 EPS, Q1 2017 earnings at $0.06 EPS, Q2 2017 earnings at $0.06 EPS, Q3 2017 earnings at $0.06 EPS, Q4 2017 earnings at $0.07 EPS and FY2017 earnings at $0.25 EPS.
Several other research analysts have also commented on SITO. Zacks Investment Research upgraded SITO Mobile from a “hold” rating to a “buy” rating and set a $5.75 price target for the company in a research report on Wednesday, September 7th. Craig Hallum began coverage on SITO Mobile in a research report on Wednesday, July 6th. They set a “buy” rating and a $6.50 price target for the company. Finally, Aegis began coverage on SITO Mobile in a research report on Monday, September 12th. They set a “buy” rating and a $6.50 price target for the company.
Shares of SITO Mobile (NASDAQ:SITO) opened at 5.17 on Thursday. The company’s 50 day moving average price is $4.83 and its 200 day moving average price is $3.81. SITO Mobile has a 52-week low of $1.55 and a 52-week high of $6.08. The stock’s market capitalization is $89.84 million.
SITO Mobile (NASDAQ:SITO) last released its quarterly earnings data on Monday, August 15th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.08. SITO Mobile had a negative return on equity of 48.98% and a negative net margin of 12.28%.
Several hedge funds have recently made changes to their positions in the stock. BlackRock Fund Advisors boosted its stake in shares of SITO Mobile by 917.7% in the second quarter. BlackRock Fund Advisors now owns 30,420 shares of the company’s stock valued at $110,000 after buying an additional 27,431 shares during the last quarter. Baird Financial Group Inc. bought a new stake in shares of SITO Mobile during the second quarter valued at about $235,000. Finally, Cannell Peter B & Co. Inc. boosted its stake in shares of SITO Mobile by 20.2% in the second quarter. Cannell Peter B & Co. Inc. now owns 541,695 shares of the company’s stock valued at $1,961,000 after buying an additional 91,000 shares during the last quarter. Institutional investors and hedge funds own 16.05% of the company’s stock.
SITO Mobile Company Profile
SITO Mobile Ltd., formerly Single Touch Systems Inc, is a provider of mobile location-based advertising platform serving businesses, advertisers and brands. The Company provides solutions through its platform, which allows marketers to create content targeted to audiences, based on location, interests, behaviors and loyalty.
Receive News & Stock Ratings for SITO Mobile Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SITO Mobile Ltd. and related stocks with our FREE daily email newsletter.