Daktronics (NASDAQ:DAKT) Posts Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Daktronics (NASDAQ:DAKT) announced its earnings results on Wednesday. The technology company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.08), Zacks reports. Daktronics had a net margin of 3.62% and a return on equity of 19.61%.

Daktronics Stock Performance

NASDAQ:DAKT traded down $2.10 on Wednesday, reaching $12.23. 480,982 shares of the company’s stock were exchanged, compared to its average volume of 459,000. The firm has a market cap of $575.78 million, a price-to-earnings ratio of 48.92, a P/E/G ratio of 0.57 and a beta of 1.16. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.35 and a quick ratio of 1.67. The stock has a fifty day simple moving average of $16.38 and a 200-day simple moving average of $15.11. Daktronics has a 52 week low of $8.62 and a 52 week high of $19.89.

Insider Activity at Daktronics

In other news, Director John Patrick Friel sold 2,244 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $18.17, for a total value of $40,773.48. Following the completion of the transaction, the director now directly owns 87,573 shares of the company’s stock, valued at $1,591,201.41. This trade represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Reece A. Kurtenbach sold 8,048 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $18.75, for a total value of $150,900.00. Following the sale, the chief executive officer now directly owns 469,727 shares in the company, valued at $8,807,381.25. This trade represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. 5.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Craig Hallum assumed coverage on shares of Daktronics in a research report on Wednesday, January 22nd. They set a “buy” rating and a $26.00 target price for the company.

About Daktronics

Daktronics, Inc designs, manufactures, and sells electronic scoreboards, programmable display systems and large screen video displays for sporting, commercial, and transportation applications in the United States and internationally. It operates through Commercial, Live Events, High School Park and Recreation, Transportation, and International segments.