$77.69 Million in Sales Expected for Digi International Inc. (NASDAQ:DGII) This Quarter

Wall Street analysts expect Digi International Inc. (NASDAQ:DGII) to announce $77.69 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Digi International’s earnings, with estimates ranging from $77.50 million to $77.87 million. Digi International reported sales of $73.17 million during the same quarter last year, which would suggest a positive year over year growth rate of 6.2%. The firm is expected to report its next quarterly earnings report on Thursday, November 11th.

According to Zacks, analysts expect that Digi International will report full year sales of $307.25 million for the current financial year, with estimates ranging from $307.10 million to $307.39 million. For the next financial year, analysts anticipate that the firm will post sales of $332.59 million, with estimates ranging from $329.70 million to $335.47 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Digi International.

Digi International (NASDAQ:DGII) last released its quarterly earnings results on Wednesday, August 4th. The technology company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The business had revenue of $79.08 million for the quarter, compared to the consensus estimate of $77.16 million. Digi International had a net margin of 3.37% and a return on equity of 2.44%. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.16 EPS.

DGII has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of Digi International from a “hold” rating to a “sell” rating in a research note on Tuesday, August 10th. Roth Capital lowered their target price on shares of Digi International from $29.00 to $28.00 and set a “buy” rating on the stock in a research note on Thursday, August 5th. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $25.06.

A number of hedge funds and other institutional investors have recently bought and sold shares of DGII. Rhumbline Advisers grew its position in Digi International by 9.1% in the 1st quarter. Rhumbline Advisers now owns 104,734 shares of the technology company’s stock worth $1,989,000 after purchasing an additional 8,742 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in Digi International by 112.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 16,417 shares of the technology company’s stock worth $312,000 after purchasing an additional 8,699 shares during the last quarter. State of Tennessee Treasury Department grew its position in Digi International by 19.2% in the 1st quarter. State of Tennessee Treasury Department now owns 11,836 shares of the technology company’s stock worth $225,000 after purchasing an additional 1,910 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its position in Digi International by 6.9% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 78,863 shares of the technology company’s stock worth $1,498,000 after purchasing an additional 5,061 shares during the last quarter. Finally, Essex Investment Management Co. LLC acquired a new stake in Digi International in the 1st quarter worth $2,566,000. Institutional investors own 87.07% of the company’s stock.

Digi International stock opened at $21.13 on Wednesday. The company has a market capitalization of $720.77 million, a P/E ratio of 66.03, a P/E/G ratio of 4.67 and a beta of 1.67. The firm’s fifty day simple moving average is $20.78 and its 200-day simple moving average is $19.65. The company has a current ratio of 4.29, a quick ratio of 3.47 and a debt-to-equity ratio of 0.10. Digi International has a 1-year low of $14.36 and a 1-year high of $25.60.

Digi International Company Profile

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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