Zacks: Brokerages Anticipate Digi International Inc. (NASDAQ:DGII) Will Post Quarterly Sales of $83.55 Million

Equities analysts expect that Digi International Inc. (NASDAQ:DGII) will announce sales of $83.55 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Digi International’s earnings, with the highest sales estimate coming in at $83.90 million and the lowest estimate coming in at $83.19 million. Digi International posted sales of $73.15 million in the same quarter last year, which would indicate a positive year over year growth rate of 14.2%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, February 2nd.

On average, analysts expect that Digi International will report full year sales of $363.53 million for the current financial year, with estimates ranging from $362.45 million to $364.60 million. For the next fiscal year, analysts expect that the firm will report sales of $403.95 million, with estimates ranging from $399.29 million to $408.60 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Digi International.

Digi International (NASDAQ:DGII) last posted its earnings results on Wednesday, November 10th. The technology company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates 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 prior year, the business earned $0.15 EPS.

A number of research analysts have weighed in on the company. Canaccord Genuity increased their target price on Digi International from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, November 11th. Zacks Investment Research downgraded Digi International from a “hold” rating to a “sell” rating in a research note on Wednesday, November 17th. Finally, Roth Capital raised their price objective on Digi International from $28.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, November 11th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $26.93.

DGII stock traded up $0.12 during trading on Thursday, reaching $23.58. The stock had a trading volume of 79,483 shares, compared to its average volume of 182,281. Digi International has a 52 week low of $16.33 and a 52 week high of $25.63. The firm’s 50 day moving average is $22.11. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.44 and a current ratio of 4.18. The company has a market capitalization of $804.34 million, a price-to-earnings ratio of 78.60, a PEG ratio of 2.59 and a beta of 1.56.

In related news, VP Tracy L. Roberts sold 40,000 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.50% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Teachers Retirement System of The State of Kentucky grew its position 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 in the last quarter. Metropolitan Life Insurance Co NY grew its holdings in Digi International by 116,225.0% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 9,306 shares of the technology company’s stock valued at $187,000 after buying an additional 9,298 shares in the last quarter. UBS Asset Management Americas Inc. purchased a new position in Digi International during the 1st quarter valued at approximately $234,000. Oregon Public Employees Retirement Fund grew its holdings in Digi International by 12.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 13,544 shares of the technology company’s stock valued at $272,000 after buying an additional 1,490 shares in the last quarter. Finally, Amalgamated Bank purchased a new position in Digi International during the 2nd quarter valued at approximately $331,000. Hedge funds and other institutional investors own 86.31% of the company’s stock.

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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