Brokerages Expect Smart Global Holdings Inc (NASDAQ:SGH) Will Announce Earnings of $0.73 Per Share

Wall Street analysts expect Smart Global Holdings Inc (NASDAQ:SGH) to post earnings of $0.73 per share for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Smart Global’s earnings, with the highest EPS estimate coming in at $1.02 and the lowest estimate coming in at $0.60. Smart Global reported earnings of $1.72 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 57.6%. The business is expected to issue its next quarterly earnings results on Thursday, October 3rd.

On average, analysts expect that Smart Global will report full-year earnings of $3.61 per share for the current year, with EPS estimates ranging from $3.46 to $3.94. For the next fiscal year, analysts anticipate that the business will report earnings of $3.87 per share, with EPS estimates ranging from $3.43 to $5.05. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Smart Global.

Smart Global (NASDAQ:SGH) last released its quarterly earnings results on Thursday, June 27th. The company reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.03). Smart Global had a return on equity of 61.87% and a net margin of 7.49%. The company had revenue of $235.70 million for the quarter, compared to analysts’ expectations of $264.98 million. During the same quarter last year, the company earned $1.84 EPS. Smart Global’s revenue for the quarter was down 29.7% compared to the same quarter last year.

SGH has been the topic of a number of recent analyst reports. ValuEngine lowered Smart Global from a “hold” rating to a “sell” rating in a report on Tuesday, March 5th. BidaskClub lowered Smart Global from a “buy” rating to a “hold” rating in a report on Tuesday, March 5th. Deutsche Bank dropped their price objective on Smart Global from $38.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, March 29th. Barclays dropped their price objective on Smart Global from $38.00 to $25.00 and set an “overweight” rating on the stock in a report on Friday, March 29th. Finally, Zacks Investment Research raised Smart Global from a “sell” rating to a “hold” rating in a report on Wednesday, March 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $32.83.

Smart Global stock opened at $22.99 on Friday. Smart Global has a 12 month low of $16.94 and a 12 month high of $35.10. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.92 and a quick ratio of 1.39. The business’s 50 day moving average is $18.88. The stock has a market capitalization of $527.09 million, a PE ratio of 3.83, a PEG ratio of 0.46 and a beta of 0.80.

In other Smart Global news, VP Bruce M. Goldberg sold 2,381 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $18.39, for a total value of $43,786.59. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Iain Mackenzie sold 10,000 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $21.31, for a total value of $213,100.00. The disclosure for this sale can be found here. Insiders sold 14,381 shares of company stock worth $301,147 in the last three months. 4.20% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of SGH. Park West Asset Management LLC acquired a new stake in shares of Smart Global during the fourth quarter valued at $59,400,000. BlackRock Inc. boosted its stake in shares of Smart Global by 137.4% during the fourth quarter. BlackRock Inc. now owns 1,661,267 shares of the company’s stock valued at $49,339,000 after acquiring an additional 961,590 shares during the last quarter. Brown Advisory Inc. acquired a new stake in shares of Smart Global during the fourth quarter valued at $13,005,000. FMR LLC acquired a new stake in shares of Smart Global during the first quarter valued at $7,757,000. Finally, Kennedy Capital Management Inc. boosted its stake in shares of Smart Global by 106.0% during the first quarter. Kennedy Capital Management Inc. now owns 455,125 shares of the company’s stock valued at $8,738,000 after acquiring an additional 234,183 shares during the last quarter. 97.83% of the stock is currently owned by institutional investors and hedge funds.

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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