$83.55 Million in Sales Expected for Digi International Inc. (NASDAQ:DGII) This Quarter

Brokerages expect that Digi International Inc. (NASDAQ:DGII) will post $83.55 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Digi International’s earnings. The highest sales estimate is $83.90 million and the lowest is $83.19 million. Digi International posted sales of $73.15 million during the same quarter last year, which suggests a positive year over year growth rate of 14.2%. The company is expected to issue its next earnings results on Wednesday, February 2nd.

According to Zacks, analysts expect that Digi International will report full-year sales of $363.53 million for the current fiscal year, with estimates ranging from $362.45 million to $364.60 million. For the next year, analysts anticipate that the firm will report sales of $403.95 million, with estimates ranging from $399.29 million to $408.60 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Digi International.

Digi International (NASDAQ:DGII) last announced its quarterly earnings data on Wednesday, November 10th. The technology company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.05. Digi International had a return on equity of 2.34% and a net margin of 3.36%. During the same period in the previous year, the company earned $0.15 EPS.

DGII has been the topic of several analyst reports. Roth Capital increased their price objective on Digi International from $28.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, November 11th. Zacks Investment Research cut Digi International from a “hold” rating to a “sell” rating in a research note on Wednesday, November 17th. Finally, Canaccord Genuity increased their price objective on Digi International from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, November 11th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $26.93.

In other Digi International news, VP Tracy L. Roberts sold 40,000 shares of the firm’s stock in a transaction dated Thursday, November 18th. The stock was sold at an average price of $23.94, for a total transaction of $957,600.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.50% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the business. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Digi International by 50.9% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 8,300 shares of the technology company’s stock worth $158,000 after purchasing an additional 2,800 shares during the last quarter. Metropolitan Life Insurance Co NY grew its holdings in shares of Digi International by 116,225.0% during the second quarter. Metropolitan Life Insurance Co NY now owns 9,306 shares of the technology company’s stock worth $187,000 after buying an additional 9,298 shares during the last quarter. UBS Asset Management Americas Inc. purchased a new position in shares of Digi International during the first quarter worth about $234,000. Oregon Public Employees Retirement Fund grew its holdings in shares of Digi International by 12.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 13,544 shares of the technology company’s stock worth $272,000 after buying an additional 1,490 shares during the last quarter. Finally, Amalgamated Bank purchased a new position in shares of Digi International during the second quarter worth about $331,000. 86.31% of the stock is currently owned by institutional investors.

Shares of NASDAQ DGII traded up $0.12 during mid-day trading on Thursday, hitting $23.58. The company had a trading volume of 79,483 shares, compared to its average volume of 182,281. The stock has a market cap of $804.34 million, a P/E ratio of 78.60, a PEG ratio of 2.59 and a beta of 1.56. The company has a quick ratio of 3.44, a current ratio of 4.18 and a debt-to-equity ratio of 0.10. Digi International has a 1-year low of $16.33 and a 1-year high of $25.63. The business’s 50-day moving average price is $22.11.

About Digi International

Digi International, Inc provides business and mission-critical Internet of Things (IoT) connectivity products, services and solutions. It operates through the following segments: IoT Products & Services and IoT Solutions. The IoT Products & Services segment offers products and services that help original equipment manufacturers, enterprise and government customers create and deploy, secure IoT connectivity solutions.

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