Smart Global (NASDAQ:SGH) Issues Q4 Earnings Guidance

Smart Global (NASDAQ:SGH) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided EPS guidance of $0.55-0.65 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.68. The company issued revenue guidance of $270-280 million, compared to the consensus revenue estimate of $299.02 million.Smart Global also updated its Q4 2019 guidance to $0.55-0.65 EPS.

Shares of SGH stock traded down $0.16 during mid-day trading on Friday, reaching $31.09. 324,199 shares of the company were exchanged, compared to its average volume of 652,897. The company has a 50 day moving average price of $22.46. Smart Global has a fifty-two week low of $16.94 and a fifty-two week high of $35.10. The company has a market capitalization of $721.29 million, a P/E ratio of 5.18, a P/E/G ratio of 0.71 and a beta of 1.21. The company has a quick ratio of 1.66, a current ratio of 2.24 and a debt-to-equity ratio of 0.78.

Smart Global (NASDAQ:SGH) last announced its quarterly earnings data on Thursday, June 27th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.03). The firm had revenue of $235.70 million for the quarter, compared to the consensus estimate of $264.98 million. Smart Global had a return on equity of 40.99% and a net margin of 5.77%. The business’s revenue for the quarter was down 29.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.84 earnings per share. As a group, research analysts forecast that Smart Global will post 2.92 earnings per share for the current fiscal year.

SGH has been the topic of a number of recent analyst reports. Needham & Company LLC cut their price objective on shares of to $10.00 and set a buy rating on the stock in a research note on Wednesday, July 10th. Barclays lifted their price objective on shares of Smart Global from $24.00 to $30.00 and gave the company an overweight rating in a research note on Wednesday, July 10th. Deutsche Bank lifted their target price on Welltower from $61.00 to $71.00 and gave the stock a hold rating in a report on Friday, March 29th. Roth Capital initiated coverage on AMC Entertainment in a report on Friday. They set an outperform rating and a $18.00 target price on the stock. Finally, TheStreet cut UDR from a b rating to a c rating in a research note on Tuesday, April 30th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Smart Global presently has a consensus rating of Buy and a consensus price target of $37.00.

In other Smart Global news, VP Bruce M. Goldberg sold 2,000 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $22.13, for a total transaction of $44,260.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Bruce M. Goldberg sold 2,381 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $18.39, for a total value of $43,786.59. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.

About Smart Global

SMART Global Holdings, Inc designs, manufactures, and supplies specialty memory solutions worldwide. The company offers dynamic random access memory (DRAM) components, which are used to manufacture modules and other products; DRAM modules for desktop, notebook, and server applications, as well as for use in smartphones; and specialty DRAM modules for industrial, communications, and networking applications, as well as develops specialized memory module designs based on original equipment manufacturer (OEM) requirements.

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