DragonWave, Inc.(USA) (DRWI) Expected to Post Quarterly Sales of $12.05 Million
Analysts expect DragonWave, Inc.(USA) (NASDAQ:DRWI) (TSE:DWI) to report sales of $12.05 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for DragonWave, Inc.(USA)’s earnings, with estimates ranging from $11.5 million to $12.6 million. DragonWave, Inc.(USA) reported sales of $12.04 million in the same quarter last year, which indicates a positive year over year growth rate of 0.1%. The company is expected to report its next earnings report after the market closes on Friday, May 26th.
According to Zacks, analysts expect that DragonWave, Inc.(USA) will report full-year sales of $12.05 million for the current year, with estimates ranging from $47.5 million to $48.6 million. For the next financial year, analysts expect that the firm will report sales of $56.7 million per share, with estimates ranging from $53 million to $60.4 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow DragonWave, Inc.(USA).
A number of research analysts have weighed in on the stock. Zacks Investment Research cut shares of DragonWave, Inc.(USA) from a “buy” rating to a “hold” rating in a research note on Monday, May 8th. HC Wainwright reiterated a “buy” rating and issued a $4.00 target price on shares of DragonWave, Inc.(USA) in a research note on Monday, April 3rd. Rodman & Renshaw reiterated a “buy” rating and issued a $4.00 target price on shares of DragonWave, Inc.(USA) in a research note on Monday, April 3rd. Finally, S&P Equity Research boosted their target price on shares of DragonWave, Inc.(USA) from $1.50 to $1.70 in a research note on Wednesday, March 15th.
An institutional investor recently bought a new position in DragonWave, Inc.(USA) stock. Sabby Management LLC bought a new position in DragonWave, Inc.(USA) (NASDAQ:DRWI) (TSE:DWI) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 466,696 shares of the communications equipment provider’s stock, valued at approximately $677,000. Sabby Management LLC owned about 7.65% of DragonWave, Inc.(USA) as of its most recent SEC filing. Hedge funds and other institutional investors own 15.23% of the company’s stock.
WARNING: This piece of content was first posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this piece of content on another site, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/06/16/dragonwave-inc-usa-drwi-expected-to-post-quarterly-sales-of-12-05-million-updated-updated-updated.html.
Shares of DragonWave, Inc (NASDAQ:DRWI) traded down 5.41% during midday trading on Wednesday, reaching $1.05. 81,719 shares of the company traded hands. DragonWave, Inc has a 12-month low of $0.86 and a 12-month high of $6.83. The firm’s market capitalization is $6.41 million. The company has a 50-day moving average of $1.21 and a 200 day moving average of $1.98.
DragonWave, Inc.(USA) Company Profile
DragonWave Inc (DragonWave) is a provider of packet microwave solutions for Internet protocol (IP) networks. The Company operates through broadband wireless backhaul equipment segment. The principal application of DragonWave’s products is mobile network backhaul. Additional applications include leased line replacement, last mile fiber extension and enterprise networks.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock Ratings for DragonWave Inc.(USA) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DragonWave Inc.(USA) and related stocks with our FREE daily email newsletter.