Daktronics Inc. (DAKT) Issues Quarterly Earnings Results, Beats Estimates By $0.09 EPS
Daktronics Inc. (NASDAQ:DAKT) announced its earnings results on Tuesday. The company reported $0.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.09. Daktronics had a net margin of 0.66% and a return on equity of 1.87%. The business earned $170 million during the quarter, compared to analysts’ expectations of $161.50 million. During the same quarter in the prior year, the company posted $0.07 earnings per share.
Shares of Daktronics (NASDAQ:DAKT) opened at 9.41 on Tuesday. Daktronics has a 52 week low of $5.92 and a 52 week high of $10.07. The firm has a market capitalization of $412.84 million, a P/E ratio of 108.16 and a beta of 1.39. The firm’s 50-day moving average is $8.86 and its 200-day moving average is $7.93.
Several equities analysts have recently weighed in on DAKT shares. Zacks Investment Research raised shares of Daktronics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 2nd. Needham & Company LLC increased their price objective on shares of Daktronics from $8.00 to $9.50 and gave the company a “buy” rating in a research report on Wednesday, August 24th.
Several large investors have recently added to or reduced their stakes in DAKT. KCG Holdings Inc. acquired a new stake in Daktronics during the third quarter worth approximately $100,000. BlackRock Inc. boosted its stake in Daktronics by 3.5% in the third quarter. BlackRock Inc. now owns 11,250 shares of the company’s stock worth $107,000 after buying an additional 382 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Daktronics by 7.6% in the second quarter. Thrivent Financial for Lutherans now owns 19,150 shares of the company’s stock worth $120,000 after buying an additional 1,350 shares during the last quarter. Arizona State Retirement System boosted its stake in Daktronics by 1.0% in the second quarter. Arizona State Retirement System now owns 20,091 shares of the company’s stock worth $126,000 after buying an additional 200 shares during the last quarter. Finally, BlackRock Advisors LLC boosted its stake in Daktronics by 1.0% in the third quarter. BlackRock Advisors LLC now owns 18,919 shares of the company’s stock worth $180,000 after buying an additional 193 shares during the last quarter. Institutional investors own 43.96% of the company’s stock.
Daktronics, Inc is a supplier of electronic scoreboards, electronic display systems, digital messaging solutions, software and services for sporting, commercial and transportation applications. The Company operates through five segments: Commercial, Live Events, High School Park and Recreation, Transportation, and International.
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