DigitalGlobe Inc. (DGI) Downgraded to “Hold” at Zacks Investment Research
DigitalGlobe Inc. (NYSE:DGI) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report 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. “
Several other analysts have also weighed in on the stock. Dougherty & Co lifted their target price on shares of DigitalGlobe from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, July 29th. JPMorgan Chase & Co. lifted their target price on shares of DigitalGlobe from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, July 29th. Jefferies Group reiterated a “buy” rating and set a $30.00 target price on shares of DigitalGlobe in a research report on Tuesday, September 13th. Benchmark Co. reiterated a “hold” rating and set a $20.00 target price on shares of DigitalGlobe in a research report on Wednesday, September 21st. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and set a $32.00 target price on shares of DigitalGlobe in a research report on Wednesday, August 31st. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. DigitalGlobe presently has a consensus rating of “Hold” and an average target price of $28.38.
DigitalGlobe (NYSE:DGI) traded up 3.52% on Wednesday, hitting $32.35. 829,349 shares of the stock traded hands. DigitalGlobe has a 12-month low of $11.80 and a 12-month high of $32.40. The stock has a market cap of $2.01 billion, a P/E ratio of 52.01 and a beta of 0.23. The stock has a 50-day moving average price of $26.55 and a 200 day moving average price of $24.23.
DigitalGlobe (NYSE:DGI) last issued its earnings results on Tuesday, October 25th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.13. DigitalGlobe had a net margin of 6.28% and a return on equity of 3.71%. The business had revenue of $181.80 million for the quarter, compared to analyst estimates of $171.92 million. During the same period in the previous year, the business earned $0.12 EPS. The firm’s revenue was up 4.9% on a year-over-year basis. On average, equities analysts expect that DigitalGlobe will post $0.58 EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in the company. Prudential Financial Inc. increased its position in shares of DigitalGlobe by 66.5% in the second quarter. Prudential Financial Inc. now owns 86,847 shares of the company’s stock worth $1,858,000 after buying an additional 34,700 shares in the last quarter. Columbus Circle Investors bought a new position in shares of DigitalGlobe during the second quarter worth $15,214,000. Kennedy Capital Management Inc. increased its position in shares of DigitalGlobe by 66.7% in the first quarter. Kennedy Capital Management Inc. now owns 200,000 shares of the company’s stock worth $3,460,000 after buying an additional 80,000 shares in the last quarter. First Mercantile Trust Co. bought a new position in shares of DigitalGlobe during the second quarter worth $321,000. Finally, DUPONT CAPITAL MANAGEMENT Corp bought a new position in shares of DigitalGlobe during the second quarter worth $1,499,000.
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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