Daktronics (NASDAQ:DAKT) posted its quarterly earnings results on Wednesday. The technology company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.10 by $0.06, Briefing.com reports. The firm had revenue of $180.30 million for the quarter, compared to the consensus estimate of $156.92 million. Daktronics had a negative net margin of 0.17% and a negative return on equity of 0.48%. The business’s revenue was up 16.9% compared to the same quarter last year. During the same period last year, the firm posted $0.10 earnings per share.
Shares of NASDAQ DAKT traded up $0.80 during mid-day trading on Wednesday, hitting $6.73. The stock had a trading volume of 16,536 shares, compared to its average volume of 138,451. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.30 and a current ratio of 1.89. Daktronics has a 1 year low of $5.78 and a 1 year high of $9.14. The business has a 50 day moving average price of $6.17 and a two-hundred day moving average price of $6.99. The firm has a market cap of $268.57 million, a P/E ratio of -337.45 and a beta of 1.08.
Several research analysts have commented on the stock. ValuEngine raised shares of Daktronics from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th. BidaskClub raised shares of Daktronics from a “sell” rating to a “hold” rating in a research note on Tuesday, June 11th.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Grantham Mayo Van Otterloo & Co. LLC increased its stake in shares of Daktronics by 2.5% in the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 69,300 shares of the technology company’s stock worth $428,000 after buying an additional 1,700 shares during the period. Quantamental Technologies LLC increased its stake in shares of Daktronics by 111.5% in the second quarter. Quantamental Technologies LLC now owns 4,065 shares of the technology company’s stock worth $25,000 after buying an additional 2,143 shares during the period. UBS Asset Management Americas Inc. increased its stake in shares of Daktronics by 9.7% in the second quarter. UBS Asset Management Americas Inc. now owns 41,555 shares of the technology company’s stock worth $256,000 after buying an additional 3,663 shares during the period. Bremer Bank National Association purchased a new position in shares of Daktronics in the first quarter worth $30,000. Finally, Strs Ohio boosted its holdings in Daktronics by 7.5% in the second quarter. Strs Ohio now owns 77,200 shares of the technology company’s stock valued at $476,000 after acquiring an additional 5,400 shares in the last quarter. 55.16% of the stock is currently owned by institutional investors.
Daktronics, Inc designs, manufactures, and sells a range of electronic display systems and related products worldwide. It operates through five segments: Commercial, Live Events, High School Park and Recreation, Transportation, and International. The company offers video display systems, such as displays to show various levels of video, graphics, and animation; LED ribbon board displays; mobile and modular display systems; freeform LED displays, which include architectural lighting and display products; indoor and outdoor scoreboards for various sports, digit displays, scoring and timing controllers, statistics software, and other related products; and timing systems for sports events primarily aquatics and track competitions, as well as swimming touchpads, race start systems, and relay take-off platforms.
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