$120.10 Million in Sales Expected for Quantum Corporation (NYSE:QTM) This Quarter
Brokerages expect Quantum Corporation (NYSE:QTM) to post sales of $120.10 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Quantum Corporation’s earnings. The lowest sales estimate is $120.00 million and the highest is $120.20 million. Quantum Corporation reported sales of $116.28 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.3%. The firm is expected to report its next quarterly earnings results after the market closes on Wednesday, August 9th.
According to Zacks, analysts expect that Quantum Corporation will report full year sales of $120.10 million for the current fiscal year, with estimates ranging from $528.70 million to $540.30 million. For the next year, analysts forecast that the business will report sales of $0.00 per share. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Quantum Corporation.
Quantum Corporation (NYSE:QTM) last announced its quarterly earnings data on Wednesday, May 10th. The technology company reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.02. Quantum Corporation had a negative return on equity of 5.94% and a net margin of 0.62%. The firm had revenue of $120.80 million for the quarter, compared to analysts’ expectations of $122.59 million. During the same period last year, the firm earned $0.02 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year.
A number of analysts have recently weighed in on QTM shares. Zacks Investment Research upgraded shares of Quantum Corporation from a “hold” rating to a “strong-buy” rating and set a $9.25 target price on the stock in a report on Wednesday, May 17th. BidaskClub downgraded shares of Quantum Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th.
Quantum Corporation (QTM) opened at 8.24 on Friday. Quantum Corporation has a 52 week low of $0.56 and a 52 week high of $9.20. The stock’s 50 day moving average price is $7.89 and its 200-day moving average price is $4.56. The company has a market capitalization of $280.92 million, a PE ratio of 76.30 and a beta of 2.33.
In other Quantum Corporation news, CFO Fuad Ahmad sold 17,000 shares of the company’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $8.46, for a total value of $143,820.00. Following the transaction, the chief financial officer now directly owns 153,603 shares in the company, valued at approximately $1,299,481.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Shawn D. Hall sold 10,000 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $7.82, for a total transaction of $78,200.00. Following the completion of the transaction, the vice president now owns 158,344 shares in the company, valued at $1,238,250.08. The disclosure for this sale can be found here. Insiders sold a total of 88,912 shares of company stock worth $727,222 over the last 90 days. Insiders own 8.55% of the company’s stock.
Large investors have recently made changes to their positions in the company. Strs Ohio acquired a new stake in shares of Quantum Corporation during the second quarter valued at $113,000. Bank of New York Mellon Corp boosted its stake in Quantum Corporation by 3.2% in the first quarter. Bank of New York Mellon Corp now owns 609,341 shares of the technology company’s stock worth $529,000 after buying an additional 19,157 shares during the last quarter. Nine Chapters Capital Management LLC boosted its stake in Quantum Corporation by 39.2% in the first quarter. Nine Chapters Capital Management LLC now owns 157,600 shares of the technology company’s stock worth $137,000 after buying an additional 44,400 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Quantum Corporation by 8.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 617,912 shares of the technology company’s stock worth $538,000 after buying an additional 50,616 shares during the last quarter. Finally, FMR LLC boosted its stake in Quantum Corporation by 2.3% in the first quarter. FMR LLC now owns 3,490,385 shares of the technology company’s stock worth $3,037,000 after buying an additional 79,720 shares during the last quarter.
Quantum Corporation Company Profile
Quantum Corporation focuses on scale-out storage, archive and data protection, providing solutions for capturing, sharing, managing and preserving digital assets over the entire data lifecycle. The Company’s end-to-end tiered storage solutions enable users to maximize the value of their data by making it accessible whenever and wherever needed, retaining it indefinitely and reducing total cost and complexity.
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