Wall Street brokerages expect that Digimarc Corporation (NASDAQ:DMRC) will announce sales of $5.34 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Digimarc’s earnings, with estimates ranging from $5.26 million to $5.47 million. Digimarc reported sales of $5.18 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.1%. The business is expected to announce its next earnings results on Wednesday, February 28th.
On average, analysts expect that Digimarc will report full-year sales of $5.34 million for the current financial year, with estimates ranging from $22.76 million to $25.64 million. For the next financial year, analysts forecast that the company will report sales of $25.57 million per share, with estimates ranging from $22.92 million to $30.53 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Digimarc.
Digimarc (NASDAQ:DMRC) last released its quarterly earnings data on Thursday, October 26th. The information technology services provider reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.30. The firm had revenue of $8.68 million during the quarter, compared to the consensus estimate of $5.72 million. Digimarc had a negative net margin of 90.69% and a negative return on equity of 30.98%. The firm’s revenue was up 55.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.55) earnings per share.
Several brokerages have recently issued reports on DMRC. BidaskClub downgraded shares of Digimarc from a “hold” rating to a “sell” rating in a report on Wednesday. B. Riley reissued a “buy” rating and set a $44.00 price target on shares of Digimarc in a report on Tuesday, November 14th. Cowen set a $50.00 price target on shares of Digimarc and gave the company a “buy” rating in a report on Tuesday, October 24th. Finally, Zacks Investment Research raised shares of Digimarc from a “sell” rating to a “hold” rating in a report on Monday, October 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $45.33.
In other Digimarc news, EVP Joel Meyer sold 7,000 shares of the business’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $35.03, for a total value of $245,210.00. Following the sale, the executive vice president now directly owns 63,551 shares in the company, valued at $2,226,191.53. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Bernard Whitney sold 5,000 shares of the business’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $35.00, for a total transaction of $175,000.00. Following the completion of the sale, the director now owns 33,630 shares in the company, valued at $1,177,050. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,000 shares of company stock worth $778,160. Company insiders own 7.50% of the company’s stock.
Institutional investors have recently modified their holdings of the business. American International Group Inc. raised its position in Digimarc by 8.1% in the first quarter. American International Group Inc. now owns 5,198 shares of the information technology services provider’s stock worth $140,000 after acquiring an additional 391 shares in the last quarter. Wolverine Trading LLC bought a new stake in Digimarc in the second quarter worth about $272,000. Alliancebernstein L.P. bought a new stake in Digimarc in the second quarter worth about $301,000. The Manufacturers Life Insurance Company raised its position in Digimarc by 6.9% in the second quarter. The Manufacturers Life Insurance Company now owns 8,339 shares of the information technology services provider’s stock worth $334,000 after acquiring an additional 540 shares in the last quarter. Finally, Rhumbline Advisers raised its position in Digimarc by 7.9% in the second quarter. Rhumbline Advisers now owns 11,265 shares of the information technology services provider’s stock worth $452,000 after acquiring an additional 820 shares in the last quarter. Hedge funds and other institutional investors own 56.00% of the company’s stock.
Digimarc (NASDAQ:DMRC) traded up $0.45 during trading on Friday, reaching $34.75. 43,048 shares of the company’s stock were exchanged, compared to its average volume of 69,811. Digimarc has a 1 year low of $24.20 and a 1 year high of $41.75.
Digimarc Company Profile
Digimarc Corporation (Digimarc) enables governments and enterprises to give digital identities to media and objects that computers can sense and recognize. The Company’s Digimarc Discover, Digimarc Barcode and Intuitive Computing Platform are designed to optimize the identification of consumer brand impressions, facilitating mobile-centric shopping.
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