Daktronics, Inc. (DAKT) Issues Quarterly Earnings Results
Daktronics, Inc. (NASDAQ:DAKT) posted its earnings results on Monday. The technology company reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.01), RTT News reports. Daktronics had a net margin of 2.20% and a return on equity of 6.53%. The business had revenue of $169.30 million for the quarter, compared to analysts’ expectations of $172.55 million. During the same quarter last year, the business posted $0.20 earnings per share. The business’s revenue was down .4% compared to the same quarter last year.
Shares of Daktronics (NASDAQ DAKT) traded down $0.09 during midday trading on Tuesday, hitting $10.00. 23,250 shares of the stock were exchanged, compared to its average volume of 140,243. The stock has a market capitalization of $440.22, a P/E ratio of 34.28 and a beta of 1.23. Daktronics has a 1-year low of $7.84 and a 1-year high of $11.12. The company has a current ratio of 1.94, a quick ratio of 1.43 and a debt-to-equity ratio of 0.08.
In other news, insider Carla S. Gatzke sold 2,996 shares of Daktronics stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $10.27, for a total transaction of $30,768.92. Following the completion of the sale, the insider now directly owns 435,063 shares in the company, valued at $4,468,097.01. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John L. Mulligan sold 37,307 shares of Daktronics stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $13.20, for a total transaction of $492,452.40. Following the sale, the director now owns 67,182 shares of the company’s stock, valued at $886,802.40. The disclosure for this sale can be found here. Insiders own 8.20% of the company’s stock.
Several equities analysts have weighed in on the stock. TheStreet upgraded shares of Daktronics from a “c+” rating to a “b-” rating in a report on Wednesday, September 27th. BidaskClub downgraded shares of Daktronics from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Finally, Zacks Investment Research upgraded shares of Daktronics from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a report on Thursday, August 24th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $11.83.
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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