Zacks: Brokerages Expect Insight Enterprises, Inc. (NSIT) to Post $0.95 Earnings Per Share
Brokerages expect Insight Enterprises, Inc. (NASDAQ:NSIT) to post earnings per share (EPS) of $0.95 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Insight Enterprises’ earnings. The lowest EPS estimate is $0.88 and the highest is $1.00. Insight Enterprises reported earnings per share of $0.97 during the same quarter last year, which indicates a negative year over year growth rate of 2.1%. The firm is scheduled to announce its next earnings results on Wednesday, August 2nd.
On average, analysts expect that Insight Enterprises will report full-year earnings of $3.08 per share for the current fiscal year, with EPS estimates ranging from $3.06 to $3.09. For the next fiscal year, analysts anticipate that the firm will post earnings of $3.34 per share, with EPS estimates ranging from $3.20 to $3.46. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow Insight Enterprises.
Insight Enterprises (NASDAQ:NSIT) last issued its quarterly earnings data on Wednesday, May 3rd. The software maker reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. Insight Enterprises had a net margin of 1.58% and a return on equity of 14.68%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the previous year, the business posted $0.21 EPS. The firm’s revenue was up 26.4% compared to the same quarter last year.
NSIT has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of Insight Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 15th. B. Riley started coverage on shares of Insight Enterprises in a report on Thursday, April 6th. They issued a “neutral” rating and a $44.00 price target for the company. Raymond James Financial, Inc. reissued an “underperform” rating on shares of Insight Enterprises in a report on Thursday, May 4th. Finally, Stifel Nicolaus increased their price target on shares of Insight Enterprises from $36.00 to $42.00 and gave the company a “hold” rating in a report on Thursday, May 4th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $47.67.
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Insight Enterprises (NSIT) opened at 39.58 on Friday. Insight Enterprises has a one year low of $24.23 and a one year high of $53.19. The firm has a 50-day moving average of $42.14 and a 200-day moving average of $41.47. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 15.62 and a beta of 1.64.
In other Insight Enterprises news, CFO Glynis Bryan sold 3,946 shares of the stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $42.00, for a total value of $165,732.00. Following the completion of the sale, the chief financial officer now directly owns 39,643 shares of the company’s stock, valued at approximately $1,665,006. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.23% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System increased its position in Insight Enterprises by 17.0% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 60,868 shares of the software maker’s stock worth $2,462,000 after buying an additional 8,853 shares during the last quarter. State Street Corp increased its position in Insight Enterprises by 8.3% in the fourth quarter. State Street Corp now owns 962,152 shares of the software maker’s stock worth $38,906,000 after buying an additional 73,705 shares during the last quarter. Allianz Asset Management AG increased its position in Insight Enterprises by 20.1% in the fourth quarter. Allianz Asset Management AG now owns 74,323 shares of the software maker’s stock worth $3,006,000 after buying an additional 12,450 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in Insight Enterprises by 5.0% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 25,593 shares of the software maker’s stock worth $1,035,000 after buying an additional 1,213 shares during the last quarter. Finally, Guggenheim Capital LLC increased its position in Insight Enterprises by 15.7% in the fourth quarter. Guggenheim Capital LLC now owns 92,187 shares of the software maker’s stock worth $3,728,000 after buying an additional 12,493 shares during the last quarter. 97.85% of the stock is owned by hedge funds and other institutional investors.
Insight Enterprises Company Profile
Insight Enterprises, Inc is engaged in providing information technology (IT) hardware, software, and cloud and service solutions to business, government, healthcare and educational clients. The Company operates through three segments: North America, EMEA and APAC. North America comprises the United States and Canada; EMEA comprises Europe, the Middle East and Africa, and APAC comprises Asia Pacific.
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