Telenav Inc (TNAV) Expected to Post Earnings of -$0.30 Per Share

Brokerages expect that Telenav Inc (NASDAQ:TNAV) will announce earnings per share (EPS) of ($0.30) for the current quarter, according to Zacks. Three analysts have made estimates for Telenav’s earnings, with estimates ranging from ($0.30) to ($0.29). Telenav reported earnings of ($0.07) per share in the same quarter last year, which indicates a negative year over year growth rate of 328.6%. The firm is scheduled to report its next quarterly earnings report on Tuesday, January 30th.

Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Telenav.

Telenav (NASDAQ:TNAV) last issued its earnings results on Thursday, November 2nd. The technology company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.06). Telenav had a negative return on equity of 41.16% and a negative net margin of 32.94%. The firm had revenue of $36.66 million during the quarter, compared to analyst estimates of $36.84 million. During the same period in the previous year, the company earned ($0.22) earnings per share. The business’s revenue for the quarter was down 13.2% on a year-over-year basis.

TNAV has been the topic of several research reports. Zacks Investment Research lowered Telenav from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. B. Riley reaffirmed a “buy” rating and issued a $11.00 target price on shares of Telenav in a research report on Monday, October 30th. Finally, Craig Hallum set a $9.00 target price on Telenav and gave the stock a “buy” rating in a research report on Thursday, December 21st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $11.25.

Shares of Telenav (NASDAQ TNAV) remained flat at $$5.60 during mid-day trading on Wednesday. The stock had a trading volume of 47,249 shares, compared to its average volume of 138,037. Telenav has a 52-week low of $4.50 and a 52-week high of $10.15. The company has a market capitalization of $248.15, a price-to-earnings ratio of -4.52 and a beta of 0.87.

A number of hedge funds have recently modified their holdings of the business. Divisar Capital Management LLC increased its position in Telenav by 26.6% in the 2nd quarter. Divisar Capital Management LLC now owns 2,640,381 shares of the technology company’s stock worth $21,387,000 after purchasing an additional 554,399 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Telenav by 6.8% during the 2nd quarter. Vanguard Group Inc. now owns 1,282,162 shares of the technology company’s stock valued at $10,386,000 after acquiring an additional 81,555 shares during the last quarter. B. Riley Financial Inc. increased its holdings in shares of Telenav by 131.7% during the 3rd quarter. B. Riley Financial Inc. now owns 869,660 shares of the technology company’s stock valued at $5,522,000 after acquiring an additional 494,267 shares during the last quarter. Castleark Management LLC increased its holdings in shares of Telenav by 9.8% during the 2nd quarter. Castleark Management LLC now owns 553,705 shares of the technology company’s stock valued at $4,485,000 after acquiring an additional 49,222 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Telenav by 9.5% during the 2nd quarter. State Street Corp now owns 527,424 shares of the technology company’s stock valued at $4,273,000 after acquiring an additional 45,895 shares during the last quarter. 53.75% of the stock is currently owned by institutional investors.

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About Telenav

TeleNav, Inc (Telenav) is a provider of location-based platform services. The Company’s services consist of its automotive and mobile navigation platform and its advertising delivery platform. The Company operates through three segments: automotive, advertising and mobile navigation. The automotive segment provides its map and navigation platform to auto manufacturers and original equipment manufacturers (OEMs) for distribution with their vehicles.

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Earnings History and Estimates for Telenav (NASDAQ:TNAV)

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