Zacks: Brokerages Expect Box Inc (BOX) to Post -$0.29 EPS
Brokerages expect that Box Inc (NYSE:BOX) will announce earnings per share (EPS) of ($0.29) for the current quarter, according to Zacks. Six analysts have made estimates for Box’s earnings, with estimates ranging from ($0.32) to ($0.21). Box also reported earnings of ($0.29) per share in the same quarter last year. The firm is scheduled to report its next quarterly earnings report on Wednesday, August 30th.
According to Zacks, analysts expect that Box will report full year earnings of ($1.14) per share for the current year, with EPS estimates ranging from ($1.24) to ($0.85). For the next fiscal year, analysts expect that the company will post earnings of ($0.99) per share, with EPS estimates ranging from ($1.25) to ($0.52). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Box.
Box (NYSE:BOX) last issued its quarterly earnings results on Wednesday, May 31st. The software maker reported ($0.13) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.01. The business had revenue of $117.20 million for the quarter, compared to analysts’ expectations of $114.70 million. Box had a negative net margin of 44.23% and a negative return on equity of 144.98%. The business’s quarterly revenue was up 29.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.18) earnings per share.
Several research firms have recently weighed in on BOX. ValuEngine raised Box from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Bank of America Corp reaffirmed a “buy” rating and issued a $22.00 price objective (up from $21.00) on shares of Box in a research note on Friday, June 2nd. Drexel Hamilton reaffirmed a “buy” rating and issued a $28.00 price objective (up from $26.00) on shares of Box in a research note on Thursday, June 1st. Morgan Stanley reissued an “equal weight” rating and set a $20.00 price target (up from $19.00) on shares of Box in a research report on Thursday, June 1st. Finally, Mitsubishi UFJ Financial Group Inc raised Box from a “neutral” rating to an “overweight” rating in a research report on Thursday, June 1st. Six analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Box presently has an average rating of “Buy” and an average price target of $22.24.
In related news, COO Daniel J. Levin sold 20,000 shares of the company’s stock in a transaction on Wednesday, April 5th. The stock was sold at an average price of $17.00, for a total transaction of $340,000.00. Following the completion of the transaction, the chief operating officer now directly owns 3,752 shares in the company, valued at approximately $63,784. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Daniel J. Levin sold 40,000 shares of the company’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $18.46, for a total value of $738,400.00. Following the transaction, the chief operating officer now owns 3,752 shares of the company’s stock, valued at $69,261.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 771,186 shares of company stock valued at $12,849,908. 22.30% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC acquired a new position in shares of Box during the first quarter worth about $142,000. Cipher Capital LP acquired a new position in shares of Box during the fourth quarter worth about $149,000. Two Sigma Securities LLC acquired a new position in shares of Box during the first quarter worth about $177,000. ARK Investment Management LLC acquired a new position in shares of Box during the fourth quarter worth about $164,000. Finally, Commerzbank Aktiengesellschaft FI acquired a new position in shares of Box during the fourth quarter worth about $175,000. Institutional investors own 27.65% of the company’s stock.
Shares of Box (NYSE BOX) traded up 2.52% during mid-day trading on Monday, hitting $19.09. 1,648,723 shares of the stock traded hands. The company’s market cap is $2.44 billion. The stock has a 50 day moving average price of $18.09 and a 200-day moving average price of $16.73. Box has a one year low of $9.86 and a one year high of $20.91.
Box Company Profile
Box, Inc provides an enterprise content management platform that enables organizations of all sizes to manage enterprise content while allowing access and sharing of this content from anywhere, on any device. With the Company’s Software-as-a-Service (SaaS) cloud-based platform, users can collaborate on content both internally and with external parties, automate content-driven business processes, develop custom applications, and implement data protection, security and compliance features to comply with internal policies and industry regulations.
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