Brokerages predict that Digimarc Corp (NASDAQ:DMRC) will post $5.48 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Digimarc’s earnings. The lowest sales estimate is $5.10 million and the highest is $6.00 million. Digimarc posted sales of $6.09 million during the same quarter last year, which would indicate a negative year over year growth rate of 10%. The company is expected to issue its next quarterly earnings report on Wednesday, April 25th.
On average, analysts expect that Digimarc will report full-year sales of $5.48 million for the current financial year, with estimates ranging from $22.92 million to $23.68 million. For the next financial year, analysts expect that the business will report sales of $30.23 million per share, with estimates ranging from $28.68 million to $31.78 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Digimarc.
Digimarc (NASDAQ:DMRC) last announced its earnings results on Wednesday, February 21st. The information technology services provider reported ($0.76) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.73) by ($0.03). The business had revenue of $4.90 million during the quarter, compared to the consensus estimate of $5.26 million. Digimarc had a negative net margin of 102.21% and a negative return on equity of 33.46%. The company’s revenue was down 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.57) EPS.
A number of research analysts recently commented on DMRC shares. Zacks Investment Research downgraded Digimarc from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. BidaskClub downgraded Digimarc from a “sell” rating to a “strong sell” rating in a research note on Wednesday, January 31st. ValuEngine raised Digimarc from a “sell” rating to a “hold” rating in a research note on Tuesday, February 13th. Finally, National Securities set a $43.00 price target on Digimarc and gave the company a “buy” rating in a research note on Thursday, February 22nd. Three research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $43.75.
DMRC stock traded down $0.85 during mid-day trading on Thursday, reaching $26.95. The company had a trading volume of 81,929 shares, compared to its average volume of 90,926. The firm has a market capitalization of $336.80, a P/E ratio of -11.15 and a beta of -1.09. Digimarc has a fifty-two week low of $24.20 and a fifty-two week high of $41.75.
In related news, CEO Bruce L. Davis sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $30.53, for a total value of $152,650.00. Following the completion of the transaction, the chief executive officer now owns 92,014 shares of the company’s stock, valued at $2,809,187.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders sold 15,500 shares of company stock valued at $530,710. 7.50% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of DMRC. Northern Trust Corp raised its stake in Digimarc by 7.6% during the second quarter. Northern Trust Corp now owns 137,089 shares of the information technology services provider’s stock worth $5,504,000 after acquiring an additional 9,650 shares in the last quarter. Vanguard Group Inc. raised its stake in Digimarc by 2.6% during the second quarter. Vanguard Group Inc. now owns 444,335 shares of the information technology services provider’s stock worth $17,840,000 after acquiring an additional 11,296 shares in the last quarter. State Street Corp raised its stake in Digimarc by 4.7% during the second quarter. State Street Corp now owns 167,370 shares of the information technology services provider’s stock worth $6,718,000 after acquiring an additional 7,581 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Digimarc by 6.9% during 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, Formula Growth Ltd. acquired a new position in Digimarc during the third quarter worth about $3,614,000. 56.78% of the stock is owned by hedge funds and other institutional investors.
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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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