Smart Global (NASDAQ:SGH) Releases Q4 2019 Earnings Guidance

Smart Global (NASDAQ:SGH) updated its fourth quarter 2019 earnings guidance on Thursday. The company provided earnings per share guidance of $0.55-0.65 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.68. The company issued revenue guidance of $270-280 million, compared to the consensus revenue estimate of $298.08 million.Smart Global also updated its Q4 guidance to $0.55-0.65 EPS.

Several research analysts recently weighed in on the stock. Roth Capital assumed coverage on shares of AMC Entertainment in a report on Friday. They issued an outperform rating and a $18.00 target price for the company. Deutsche Bank upped their target price on shares of Welltower from $61.00 to $71.00 and gave the stock a hold rating in a report on Friday, March 29th. Zacks Investment Research raised shares of Golub Capital BDC from a hold rating to a buy rating and set a $20.00 target price for the company in a report on Tuesday. BidaskClub downgraded shares of Ames National from a hold rating to a sell rating in a report on Wednesday. Finally, Barclays upped their target price on shares of Smart Global from $24.00 to $30.00 and gave the stock an overweight rating in a report on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $37.00.

Shares of SGH traded down $0.16 during midday trading on Friday, hitting $31.09. 324,199 shares of the company traded hands, compared to its average volume of 652,897. The firm has a 50 day simple moving average of $22.46. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.66 and a current ratio of 2.24. The stock has a market cap of $721.29 million, a PE ratio of 5.18, a price-to-earnings-growth ratio of 0.71 and a beta of 1.21. Smart Global has a 52 week low of $16.94 and a 52 week high of $35.10.

Smart Global (NASDAQ:SGH) last announced its earnings results on Thursday, June 27th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.03). The business had revenue of $235.70 million for the quarter, compared to analysts’ expectations of $264.98 million. Smart Global had a net margin of 5.77% and a return on equity of 40.99%. The firm’s quarterly revenue was down 29.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.84 earnings per share. On average, equities analysts anticipate that Smart Global will post 2.92 EPS for the current year.

In other news, VP Bruce M. Goldberg sold 2,000 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $22.13, for a total transaction of $44,260.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Bruce M. Goldberg sold 2,381 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $18.39, for a total transaction of $43,786.59. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by corporate insiders.

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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