Brokerages predict that Descartes Systems Group Inc (NASDAQ:DSGX) (TSE:DSG) will announce sales of $70.54 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Descartes Systems Group’s earnings, with estimates ranging from $69.99 million to $71.04 million. Descartes Systems Group reported sales of $63.60 million in the same quarter last year, which would suggest a positive year over year growth rate of 10.9%. The business is scheduled to issue its next earnings results on Monday, March 4th.
According to Zacks, analysts expect that Descartes Systems Group will report full-year sales of $274.80 million for the current financial year, with estimates ranging from $274.10 million to $275.51 million. For the next fiscal year, analysts expect that the company will post sales of $302.84 million, with estimates ranging from $301.50 million to $304.81 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Descartes Systems Group.
Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data on Wednesday, November 28th. The technology company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.02). The firm had revenue of $70.00 million for the quarter, compared to analyst estimates of $69.69 million. Descartes Systems Group had a return on equity of 5.88% and a net margin of 11.24%. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.08 earnings per share.
Several brokerages recently issued reports on DSGX. BidaskClub raised Descartes Systems Group from a “strong sell” rating to a “sell” rating in a report on Tuesday. Zacks Investment Research cut Descartes Systems Group from a “hold” rating to a “sell” rating in a report on Friday, November 30th. Finally, BMO Capital Markets set a $32.00 price objective on Descartes Systems Group and gave the stock a “market perform” rating in a report on Thursday, November 29th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. Descartes Systems Group presently has a consensus rating of “Hold” and a consensus target price of $34.20.
DSGX stock traded down $0.11 during midday trading on Tuesday, hitting $27.63. 5,772 shares of the stock were exchanged, compared to its average volume of 73,512. The stock has a market cap of $2.19 billion, a PE ratio of 79.11 and a beta of 0.45. Descartes Systems Group has a fifty-two week low of $24.85 and a fifty-two week high of $35.87. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.10 and a current ratio of 1.11.
A number of hedge funds have recently modified their holdings of DSGX. CIBC Private Wealth Group LLC raised its holdings in shares of Descartes Systems Group by 12.1% in the second quarter. CIBC Private Wealth Group LLC now owns 17,660 shares of the technology company’s stock worth $574,000 after acquiring an additional 1,900 shares during the last quarter. CLARET ASSET MANAGEMENT Corp raised its holdings in shares of Descartes Systems Group by 26.2% in the third quarter. CLARET ASSET MANAGEMENT Corp now owns 9,298 shares of the technology company’s stock worth $315,000 after acquiring an additional 1,930 shares during the last quarter. Granite Investment Partners LLC raised its holdings in shares of Descartes Systems Group by 0.5% in the second quarter. Granite Investment Partners LLC now owns 421,522 shares of the technology company’s stock worth $13,699,000 after acquiring an additional 2,025 shares during the last quarter. Toronto Dominion Bank raised its holdings in shares of Descartes Systems Group by 5.4% in the third quarter. Toronto Dominion Bank now owns 51,098 shares of the technology company’s stock worth $1,734,000 after acquiring an additional 2,597 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in Descartes Systems Group by 0.7% in the third quarter. Deutsche Bank AG now owns 372,106 shares of the technology company’s stock valued at $12,614,000 after purchasing an additional 2,615 shares during the last quarter. 79.61% of the stock is owned by hedge funds and other institutional investors.
About Descartes Systems Group
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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