Equities research analysts forecast that TheStreet, Inc. (NASDAQ:TST) will announce $16.19 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for TheStreet’s earnings, with the lowest sales estimate coming in at $15.95 million and the highest estimate coming in at $16.43 million. TheStreet posted sales of $15.92 million during the same quarter last year, which would indicate a positive year over year growth rate of 1.7%. The firm is expected to report its next earnings results on Friday, March 9th.
On average, analysts expect that TheStreet will report full year sales of $16.19 million for the current fiscal year, with estimates ranging from $62.44 million to $62.92 million. For the next fiscal year, analysts anticipate that the firm will post sales of $65.03 million per share, with estimates ranging from $64.41 million to $65.64 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for TheStreet.
Several research analysts have issued reports on TST shares. Lake Street Capital lifted their price target on shares of TheStreet from $2.00 to $3.00 and gave the stock a “buy” rating in a research report on Tuesday, November 14th. B. Riley set a $2.00 price target on shares of TheStreet and gave the stock a “buy” rating in a research report on Monday, November 13th. Zacks Investment Research lowered shares of TheStreet from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. ValuEngine upgraded shares of TheStreet from a “sell” rating to a “hold” rating in a research report on Tuesday, November 14th. Finally, Northland Securities started coverage on shares of TheStreet in a research report on Wednesday, December 13th. They issued an “outperform” rating and a $3.00 price target on the stock. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. TheStreet presently has a consensus rating of “Buy” and a consensus target price of $2.31.
TheStreet (NASDAQ:TST) opened at $1.43 on Thursday. The stock has a market cap of $70.09, a P/E ratio of -4.21 and a beta of 0.82. TheStreet has a 12-month low of $0.61 and a 12-month high of $1.64.
TheStreet declared that its board has authorized a stock repurchase program on Monday, November 13th that permits the company to buyback 5,000,000 outstanding shares. This buyback authorization permits the information services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
In other news, Director Stephen Zacharias acquired 20,000 shares of the stock in a transaction on Friday, December 1st. The shares were purchased at an average cost of $1.40 per share, for a total transaction of $28,000.00. Following the transaction, the director now owns 203,977 shares in the company, valued at approximately $285,567.80. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kevin Rendino acquired 50,000 shares of the stock in a transaction on Wednesday, November 29th. The shares were purchased at an average price of $1.38 per share, for a total transaction of $69,000.00. Following the completion of the transaction, the director now owns 64,745 shares in the company, valued at approximately $89,348.10. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 98,745 shares of company stock worth $136,801. Corporate insiders own 9.70% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Essex Investment Management Co. LLC acquired a new stake in shares of TheStreet during the 3rd quarter valued at $221,000. Renaissance Technologies LLC boosted its stake in shares of TheStreet by 12.7% during the 4th quarter. Renaissance Technologies LLC now owns 2,316,393 shares of the information services provider’s stock valued at $3,359,000 after buying an additional 261,593 shares during the period. Technology Crossover Management VI L.L.C. acquired a new stake in shares of TheStreet during the 4th quarter valued at $8,700,000. Finally, Deutsche Bank AG boosted its stake in shares of TheStreet by 48.4% during the 4th quarter. Deutsche Bank AG now owns 185,036 shares of the information services provider’s stock valued at $268,000 after buying an additional 60,336 shares during the period. Hedge funds and other institutional investors own 33.48% of the company’s stock.
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TheStreet, Inc (TheStreet) is a digital financial media company focused on the financial, and mergers and acquisitions environment. The Company’s collection of digital services provides users, subscribers and advertisers with a range of content and tools through a range of online, social media, tablet and mobile channels.
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