Brokerages Expect Globant SA (GLOB) Will Announce Earnings of $0.44 Per Share

Equities research analysts predict that Globant SA (NYSE:GLOB) will post earnings per share of $0.44 for the current quarter, Zacks reports. Five analysts have provided estimates for Globant’s earnings, with estimates ranging from $0.42 to $0.46. Globant reported earnings per share of $0.34 in the same quarter last year, which suggests a positive year over year growth rate of 29.4%. The business is scheduled to announce its next quarterly earnings results after the market closes on Thursday, November 15th.

According to Zacks, analysts expect that Globant will report full year earnings of $1.68 per share for the current fiscal year, with EPS estimates ranging from $1.65 to $1.71. For the next year, analysts anticipate that the firm will report earnings of $2.06 per share, with EPS estimates ranging from $2.00 to $2.14. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that cover Globant.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, August 23rd. The information technology services provider reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.12. The business had revenue of $127.90 million for the quarter, compared to analyst estimates of $125.18 million. Globant had a net margin of 9.48% and a return on equity of 15.07%. The firm’s revenue for the quarter was up 28.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.27 earnings per share.

A number of analysts have recently commented on GLOB shares. Zacks Investment Research raised shares of Globant from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a research report on Friday, June 22nd. SunTrust Banks boosted their price objective on shares of Globant to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, July 11th. Citigroup boosted their price objective on shares of Globant from $62.00 to $66.00 and gave the stock a “buy” rating in a research report on Friday, August 24th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Globant from $66.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday, August 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $58.71.

Several hedge funds have recently made changes to their positions in the company. Zions Bancorporation bought a new stake in Globant during the second quarter worth $160,000. PNC Financial Services Group Inc. raised its position in Globant by 48.3% during the second quarter. PNC Financial Services Group Inc. now owns 3,266 shares of the information technology services provider’s stock worth $185,000 after acquiring an additional 1,064 shares in the last quarter. Bank of Montreal Can raised its position in Globant by 32.9% during the second quarter. Bank of Montreal Can now owns 3,640 shares of the information technology services provider’s stock worth $206,000 after acquiring an additional 901 shares in the last quarter. Signition LP bought a new stake in Globant during the second quarter worth $227,000. Finally, Legal & General Group Plc raised its position in Globant by 87.8% during the first quarter. Legal & General Group Plc now owns 5,446 shares of the information technology services provider’s stock worth $281,000 after acquiring an additional 2,546 shares in the last quarter. 79.45% of the stock is currently owned by institutional investors and hedge funds.

Shares of GLOB stock traded down $0.60 during trading on Thursday, reaching $50.99. The company’s stock had a trading volume of 4,260 shares, compared to its average volume of 325,210. The firm has a market cap of $2.12 billion, a PE ratio of 57.68 and a beta of 0.63. Globant has a one year low of $34.82 and a one year high of $66.41.

Globant Company Profile

Globant SA, a technology services company, provides services related to application development, testing, infrastructure management, and application maintenance worldwide. The company offers machine learning, pattern recognition, natural language understanding, future of organizations, customer insight, behavioral change, product innovation, design thinking, product management discovery and delivery, and product coaching services.

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Earnings History and Estimates for Globant (NYSE:GLOB)

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