$0.95 Earnings Per Share Expected for Smart Global Holdings Inc (NASDAQ:SGH) This Quarter

Equities analysts expect Smart Global Holdings Inc (NASDAQ:SGH) to report $0.95 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Smart Global’s earnings. The highest EPS estimate is $1.12 and the lowest is $0.81. Smart Global reported earnings of $1.75 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 45.7%. The firm is expected to issue its next earnings results on Tuesday, January 14th.

On average, analysts expect that Smart Global will report full-year earnings of $3.88 per share for the current year, with EPS estimates ranging from $3.86 to $3.90. For the next fiscal year, analysts anticipate that the company will report earnings of $4.54 per share, with EPS estimates ranging from $4.15 to $4.93. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Smart Global.

Smart Global (NASDAQ:SGH) last posted its quarterly earnings data on Thursday, October 3rd. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.03). Smart Global had a return on equity of 40.99% and a net margin of 5.77%. The business had revenue of $278.40 million for the quarter, compared to analyst estimates of $285.05 million. During the same period in the prior year, the firm posted $1.72 EPS. Smart Global’s revenue for the quarter was down 25.6% on a year-over-year basis.

Several equities analysts recently weighed in on the company. BidaskClub raised Smart Global from a “hold” rating to a “buy” rating in a research report on Thursday, September 12th. Zacks Investment Research cut Smart Global from a “buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Deutsche Bank reissued a “buy” rating and set a $30.00 price objective (down previously from $36.00) on shares of Smart Global in a research report on Friday. They noted that the move was a valuation call. Needham & Company LLC cut their price objective on Smart Global from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Friday. Finally, Barclays boosted their price objective on Smart Global from $24.00 to $30.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Smart Global has an average rating of “Buy” and a consensus price target of $35.83.

In other news, insider Stephen C. Dow purchased 17,059 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were purchased at an average cost of $31.49 per share, for a total transaction of $537,187.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Bruce M. Goldberg sold 2,267 shares of the business’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $31.75, for a total value of $71,977.25. The disclosure for this sale can be found here. Insiders have sold 11,551 shares of company stock worth $357,998 over the last 90 days. Corporate insiders own 4.20% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. FMR LLC acquired a new position in shares of Smart Global in the 1st quarter valued at $7,757,000. Brown Advisory Inc. increased its position in shares of Smart Global by 65.0% in the 2nd quarter. Brown Advisory Inc. now owns 714,916 shares of the company’s stock valued at $16,435,000 after buying an additional 281,511 shares in the last quarter. Kennedy Capital Management Inc. increased its position in shares of Smart Global by 106.0% in the 1st quarter. Kennedy Capital Management Inc. now owns 455,125 shares of the company’s stock valued at $8,738,000 after buying an additional 234,183 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Smart Global by 80.6% in the 2nd quarter. AQR Capital Management LLC now owns 290,579 shares of the company’s stock valued at $6,680,000 after buying an additional 129,658 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Smart Global by 26.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 535,401 shares of the company’s stock valued at $15,902,000 after buying an additional 112,077 shares in the last quarter. Institutional investors own 94.54% of the company’s stock.

Shares of NASDAQ SGH traded up $1.88 during trading hours on Friday, hitting $27.29. 2,452,226 shares of the company’s stock were exchanged, compared to its average volume of 512,757. Smart Global has a 1-year low of $16.94 and a 1-year high of $35.10. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.24 and a quick ratio of 1.66. The stock has a market capitalization of $629.88 million, a price-to-earnings ratio of 4.55, a PEG ratio of 0.51 and a beta of 1.26. The company’s 50-day moving average price is $28.53 and its 200-day moving average price is $24.50.

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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