Wall Street analysts forecast that Descartes Systems Group Inc (NASDAQ:DSGX) (TSE:DSG) will announce sales of $68.91 million for the current quarter, Zacks reports. Three analysts have issued estimates for Descartes Systems Group’s earnings, with the highest sales estimate coming in at $70.34 million and the lowest estimate coming in at $68.20 million. Descartes Systems Group reported sales of $62.00 million in the same quarter last year, which indicates a positive year over year growth rate of 11.1%. The company is expected to issue its next earnings results after the market closes on Wednesday, November 28th.
On average, analysts expect that Descartes Systems Group will report full-year sales of $274.29 million for the current fiscal year, with estimates ranging from $272.30 million to $277.06 million. For the next fiscal year, analysts anticipate that the business will post sales of $304.20 million, with estimates ranging from $299.50 million to $312.88 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Descartes Systems Group.
Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data on Wednesday, September 5th. The technology company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The business had revenue of $67.10 million for the quarter, compared to analysts’ expectations of $67.70 million. Descartes Systems Group had a net margin of 10.92% and a return on equity of 5.66%. The business’s revenue was up 17.1% on a year-over-year basis. During the same quarter last year, the company earned $0.09 EPS.
A number of equities research analysts have recently commented on the stock. BidaskClub cut shares of Descartes Systems Group from a “hold” rating to a “sell” rating in a research note on Tuesday, October 9th. Zacks Investment Research cut shares of Descartes Systems Group from a “hold” rating to a “sell” rating in a research note on Friday, September 7th. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. Descartes Systems Group presently has a consensus rating of “Hold” and an average price target of $34.17.
Institutional investors have recently added to or reduced their stakes in the stock. Sei Investments Co. grew its stake in Descartes Systems Group by 3,015.9% in the 2nd quarter. Sei Investments Co. now owns 4,518 shares of the technology company’s stock valued at $147,000 after acquiring an additional 4,373 shares during the period. Keybank National Association OH acquired a new stake in Descartes Systems Group in the 2nd quarter valued at $222,000. Campbell & CO Investment Adviser LLC acquired a new stake in Descartes Systems Group in the 3rd quarter valued at $233,000. CLARET ASSET MANAGEMENT Corp grew its stake in Descartes Systems Group by 26.2% in the 3rd quarter. CLARET ASSET MANAGEMENT Corp now owns 9,298 shares of the technology company’s stock valued at $315,000 after acquiring an additional 1,930 shares during the period. Finally, Signition LP acquired a new stake in Descartes Systems Group in the 3rd quarter valued at $485,000. 81.77% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ DSGX opened at $30.49 on Friday. The company has a market cap of $2.39 billion, a PE ratio of 84.08 and a beta of 0.50. Descartes Systems Group has a 12 month low of $24.85 and a 12 month high of $35.87. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.10 and a current ratio of 1.10.
Descartes Systems Group Company Profile
The Descartes Systems Group Inc provides federated network and logistics technology solutions worldwide. Its Logistics Application Suite offers a range of modular, cloud-based, and interoperable Web and wireless logistics management applications. The company's Logistics Application Suite offers solutions, such as route planning and execution, mobile applications, and telematics and compliance; transportation management solutions comprising carrier compliance and rate management, freight audit and settlement, dock scheduling and yard management, pool distribution, transportation planning and execution, and logistics flow control, as well as visibility, tracking, and performance management; and global logistics network services, such as document management, community, and connectivity services.
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