Zacks: Brokerages Anticipate Descartes Systems Group Inc (NASDAQ:DSGX) Will Announce Quarterly Sales of $77.66 Million

Wall Street analysts expect Descartes Systems Group Inc (NASDAQ:DSGX) (TSE:DSG) to post $77.66 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Descartes Systems Group’s earnings, with the highest sales estimate coming in at $83.72 million and the lowest estimate coming in at $67.10 million. Descartes Systems Group reported sales of $67.12 million in the same quarter last year, which indicates a positive year over year growth rate of 15.7%. The firm is scheduled to announce its next earnings report after the market closes on Wednesday, September 4th.

On average, analysts expect that Descartes Systems Group will report full year sales of $327.77 million for the current year, with estimates ranging from $324.00 million to $332.26 million. For the next year, analysts expect that the business will report sales of $361.47 million, with estimates ranging from $358.70 million to $367.00 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Descartes Systems Group.

Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Wednesday, May 29th. The technology company reported $0.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.05). Descartes Systems Group had a return on equity of 5.96% and a net margin of 11.05%. The company had revenue of $78.00 million during the quarter, compared to analyst estimates of $78.60 million. During the same period in the previous year, the company posted $0.09 earnings per share. The company’s quarterly revenue was up 16.4% on a year-over-year basis.

A number of equities analysts have recently issued reports on the company. TD Securities assumed coverage on Descartes Systems Group in a report on Tuesday, June 11th. They issued a “buy” rating and a $46.00 target price for the company. Haywood Securities set a $44.00 target price on Descartes Systems Group and gave the stock a “buy” rating in a report on Wednesday, June 5th. Royal Bank of Canada increased their target price on Descartes Systems Group from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, May 28th. They noted that the move was a valuation call. Zacks Investment Research lowered Descartes Systems Group from a “buy” rating to a “sell” rating in a research report on Monday, June 3rd. Finally, ValuEngine lowered Descartes Systems Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. Descartes Systems Group has an average rating of “Hold” and a consensus target price of $42.86.

Shares of DSGX traded up $0.60 during mid-day trading on Tuesday, reaching $34.28. The company had a trading volume of 58,900 shares, compared to its average volume of 83,549. Descartes Systems Group has a twelve month low of $25.19 and a twelve month high of $41.60. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.94. The company’s 50-day moving average is $36.40 and its 200-day moving average is $36.82. The company has a market capitalization of $2.83 billion, a P/E ratio of 85.70 and a beta of 0.67.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Oak Ridge Investments LLC grew its position in Descartes Systems Group by 3.0% during the 1st quarter. Oak Ridge Investments LLC now owns 452,669 shares of the technology company’s stock worth $16,468,000 after acquiring an additional 13,036 shares during the last quarter. Addenda Capital Inc. boosted its position in Descartes Systems Group by 4.4% in the 2nd quarter. Addenda Capital Inc. now owns 451,174 shares of the technology company’s stock valued at $16,728,000 after buying an additional 18,840 shares during the last quarter. Qtron Investments LLC bought a new position in Descartes Systems Group in the 1st quarter valued at $275,000. CIBC World Markets Inc. boosted its position in Descartes Systems Group by 11.1% in the 1st quarter. CIBC World Markets Inc. now owns 43,639 shares of the technology company’s stock valued at $1,588,000 after buying an additional 4,352 shares during the last quarter. Finally, BlackRock Inc. bought a new position in Descartes Systems Group in the 4th quarter valued at $5,646,000. Institutional investors and hedge funds own 74.18% of the company’s stock.

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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Earnings History and Estimates for Descartes Systems Group (NASDAQ:DSGX)

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