SITO Mobile Ltd. (SITO) Announces Earnings Results, Beats Estimates By $0.01 EPS
SITO Mobile Ltd. (NASDAQ:SITO) posted its earnings results on Monday. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. SITO Mobile had a negative net margin of 12.28% and a negative return on equity of 48.98%. The business had revenue of $10.30 million for the quarter, compared to analyst estimates of $9.94 million.
Shares of SITO Mobile (NASDAQ:SITO) opened at 4.59 on Wednesday. The firm’s market capitalization is $79.76 million. SITO Mobile has a 52-week low of $1.55 and a 52-week high of $6.08. The firm has a 50-day moving average of $4.93 and a 200 day moving average of $4.17.
SITO has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of SITO Mobile from a “hold” rating to a “buy” rating and set a $5.75 target price on the stock in a research note on Wednesday, September 7th. Aegis initiated coverage on shares of SITO Mobile in a research report on Monday, September 12th. They issued a “buy” rating and a $6.50 price target on the stock.
Several hedge funds have recently made changes to their positions in the company. Northern Trust Corp acquired a new stake in shares of SITO Mobile during the third quarter worth approximately $108,000. BlackRock Fund Advisors raised 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 worth $110,000 after buying an additional 27,431 shares in the last quarter. Perkins Capital Management Inc. acquired a new stake in shares of SITO Mobile during the third quarter worth approximately $198,000. Baird Financial Group Inc. acquired a new stake in shares of SITO Mobile during the second quarter worth approximately $235,000. Finally, Cannell Peter B & Co. Inc. raised 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 worth $1,961,000 after buying an additional 91,000 shares in the last quarter. 16.33% of the stock is currently owned by institutional investors and hedge funds.
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.
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