Brokerages expect that Inseego Corp (NASDAQ:INSG) will announce sales of $50.59 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Inseego’s earnings. The lowest sales estimate is $50.38 million and the highest is $50.80 million. Inseego posted sales of $57.46 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 12%. The company is expected to announce its next quarterly earnings report on Thursday, November 1st.
According to Zacks, analysts expect that Inseego will report full-year sales of $199.43 million for the current financial year, with estimates ranging from $196.86 million to $202.00 million. For the next year, analysts expect that the firm will report sales of $223.35 million, with estimates ranging from $215.10 million to $231.60 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Inseego.
Inseego (NASDAQ:INSG) last issued its quarterly earnings data on Tuesday, August 7th. The technology company reported ($0.02) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.02). The firm had revenue of $49.06 million during the quarter, compared to analyst estimates of $46.44 million.
INSG has been the subject of a number of analyst reports. Roth Capital assumed coverage on shares of Inseego in a research report on Friday, October 12th. They issued a “buy” rating and a $5.00 price objective for the company. Canaccord Genuity restated a “buy” rating and set a $5.00 price target (up previously from $4.50) on shares of Inseego in a research report on Monday, September 17th. BidaskClub upgraded shares of Inseego from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 14th. Northland Securities upped their price target on shares of Inseego from $3.00 to $4.50 and gave the stock an “outperform” rating in a research report on Tuesday, September 11th. Finally, ValuEngine upgraded shares of Inseego from a “hold” rating to a “buy” rating in a research report on Thursday, August 9th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $4.25.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Family Management Corp raised its position in shares of Inseego by 525.0% during the 2nd quarter. Family Management Corp now owns 262,502 shares of the technology company’s stock worth $527,000 after purchasing an additional 220,502 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Inseego by 21.6% during the 2nd quarter. Renaissance Technologies LLC now owns 451,900 shares of the technology company’s stock worth $908,000 after purchasing an additional 80,400 shares during the last quarter. Finally, BlackRock Inc. raised its position in shares of Inseego by 3.1% during the 2nd quarter. BlackRock Inc. now owns 1,047,118 shares of the technology company’s stock worth $2,105,000 after purchasing an additional 31,469 shares during the last quarter. Hedge funds and other institutional investors own 6.41% of the company’s stock.
Shares of Inseego stock traded down $0.08 during trading hours on Wednesday, reaching $3.54. The stock had a trading volume of 327,279 shares, compared to its average volume of 561,093. Inseego has a twelve month low of $1.26 and a twelve month high of $4.49. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of -2.07.
Inseego Company Profile
Inseego Corp., together with its subsidiaries, provides software-as-a-service (SaaS), Internet of Things (IoT), and mobile solutions worldwide. The company sells SaaS, software, and service solutions across multiple IoT vertical markets, including fleet management and vehicle telematics, aviation, usage-based insurance, stolen vehicle recovery, asset tracking and monitoring, business connectivity, and subscription management.
Featured Story: Risk Tolerance and Your Investment Decisions
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Inseego Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inseego and related companies with MarketBeat.com's FREE daily email newsletter.