Zacks: Analysts Expect Inseego Corp. (NASDAQ:INSG) Will Post Earnings of -$0.06 Per Share

Equities research analysts expect Inseego Corp. (NASDAQ:INSG) to post ($0.06) earnings per share for the current quarter, Zacks reports. Two analysts have made estimates for Inseego’s earnings, with estimates ranging from ($0.07) to ($0.05). Inseego posted earnings per share of ($0.07) in the same quarter last year, which would indicate a positive year over year growth rate of 14.3%. The business is scheduled to issue its next quarterly earnings report on Monday, March 7th.

On average, analysts expect that Inseego will report full year earnings of ($0.30) per share for the current year, with EPS estimates ranging from ($0.31) to ($0.29). For the next financial year, analysts forecast that the company will post earnings of ($0.20) per share, with EPS estimates ranging from ($0.23) to ($0.17). Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Inseego.

Inseego (NASDAQ:INSG) last issued its quarterly earnings data on Wednesday, November 3rd. The technology company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.03. The company had revenue of $66.22 million for the quarter, compared to analysts’ expectations of $65.16 million. During the same quarter last year, the company earned ($0.06) earnings per share.

A number of brokerages recently weighed in on INSG. Zacks Investment Research cut Inseego from a “hold” rating to a “sell” rating in a research note on Tuesday, August 3rd. Roth Capital decreased their price target on Inseego from $8.50 to $7.50 and set a “neutral” rating for the company in a research note on Thursday, August 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Inseego presently has an average rating of “Hold” and an average target price of $11.30.

Shares of NASDAQ INSG traded up $0.22 during mid-day trading on Thursday, reaching $6.82. 963,587 shares of the company were exchanged, compared to its average volume of 2,193,542. The stock has a market cap of $716.96 million, a price-to-earnings ratio of -12.40 and a beta of 1.56. Inseego has a 1 year low of $5.94 and a 1 year high of $21.93. The firm has a 50-day moving average of $6.83 and a 200 day moving average of $8.17.

In related news, President Ashish Sharma bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 22nd. The shares were purchased at an average cost of $6.90 per share, with a total value of $34,500.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dan Mondor bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 16th. The shares were bought at an average cost of $6.81 per share, for a total transaction of $68,100.00. The disclosure for this purchase can be found here. Company insiders own 2.80% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Patriot Financial Group Insurance Agency LLC boosted its position in Inseego by 103.8% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 2,650 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,350 shares in the last quarter. US Bancorp DE boosted its position in Inseego by 302.7% during the third quarter. US Bancorp DE now owns 4,756 shares of the technology company’s stock worth $32,000 after purchasing an additional 3,575 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in Inseego by 329.4% during the third quarter. Rockefeller Capital Management L.P. now owns 9,125 shares of the technology company’s stock worth $60,000 after purchasing an additional 7,000 shares in the last quarter. SRS Capital Advisors Inc. purchased a new position in Inseego during the second quarter worth approximately $71,000. Finally, Teacher Retirement System of Texas purchased a new position in Inseego during the third quarter worth approximately $80,000. 68.04% of the stock is currently owned by hedge funds and other institutional investors.

Inseego Company Profile

Inseego Corp. engages in the business of communications equipment. The firm’s products include mobile hotspots, industrial gateways and routers, home and enterprise routers, industrial USB modems, and telematics and mobile tracking hardware devices. Its SaaS platforms include Ctrack, an asset tracking and management solution that delivers business intelligence for fleets used in various verticals, including aviation, construction, government, and transport; and Device Management Solutions, a hosted subscription management platform.

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