Daktronics Inc. (DAKT) Releases Quarterly Earnings Results, Beats Estimates By $0.09 EPS
Daktronics Inc. (NASDAQ:DAKT) released its quarterly earnings results on Tuesday. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. Daktronics had a net margin of 0.66% and a return on equity of 1.87%. The business had revenue of $170 million for the quarter, compared to analyst estimates of $161.50 million. During the same period last year, the firm earned $0.07 earnings per share.
Shares of Daktronics (NASDAQ:DAKT) opened at 9.41 on Tuesday. The stock has a 50 day moving average of $8.86 and a 200-day moving average of $7.93. The firm has a market capitalization of $412.84 million, a P/E ratio of 108.16 and a beta of 1.39. Daktronics has a 1-year low of $5.92 and a 1-year high of $10.07.
A number of research firms recently commented on DAKT. Zacks Investment Research raised shares of Daktronics from a “hold” rating to a “strong-buy” rating and set a $11.00 price target on the stock in a research report on Friday, August 26th. Needham & Company LLC raised their price target on shares of Daktronics from $8.00 to $9.50 and gave the stock a “buy” rating in a research report on Wednesday, August 24th.
Several institutional investors have recently modified their holdings of the company. Credit Suisse AG boosted its stake in shares of Daktronics by 36.5% in the third quarter. Credit Suisse AG now owns 79,530 shares of the company’s stock valued at $758,000 after buying an additional 21,268 shares in the last quarter. Highbridge Capital Management LLC bought a new stake in shares of Daktronics during the third quarter valued at $463,000. D. E. Shaw & Co. Inc. boosted its position in Daktronics by 1,413.4% in the third quarter. D. E. Shaw & Co. Inc. now owns 242,362 shares of the company’s stock valued at $2,312,000 after buying an additional 226,348 shares during the period. The Manufacturers Life Insurance Company bought a new position in Daktronics during the third quarter valued at $263,000. Finally, Two Sigma Advisers LP boosted its position in Daktronics by 71.0% in the third quarter. Two Sigma Advisers LP now owns 212,242 shares of the company’s stock valued at $2,025,000 after buying an additional 88,100 shares during the period. 43.96% of the stock is currently owned by institutional investors.
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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