PacificNet (PACT) Releases FY13 Earnings Guidance
PacificNet (PACT) issued an update on its FY13 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.75-0.80 for the period, compared to the Thomson Reuters consensus estimate of $1.01. The company issued revenue guidance of at least $675 million, compared to the consensus revenue estimate of $759.10 million.PacificNet also updated its Q1 guidance to at least $0.12 EPS.
Shares of PacificNet (PACT) opened at 6.94 on Wednesday. PacificNet (PACT) has a 52 week low of $6.25 and a 52 week high of $16.43. The stock’s 50-day moving average is currently $7.69. The company has a market cap of $311.4 million and a P/E ratio of 13.02.
PacificNet last posted its quarterly earnings results on Wednesday, February 27th. The company reported $0.24 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.23 by $0.01. The company had revenue of $142.20 million for the quarter, compared to the consensus estimate of $136.51 million. The company’s quarterly revenue was up 119.1% on a year-over-year basis. PacificNet has set its Q1 guidance at at least $0.12 EPS and its FY13 guidance at $0.75-0.80 EPS. Analysts expect that PacificNet (PACT) will post $1.11 EPS for the current fiscal year.
A number of analysts have recently weighed in on PACT shares. Analysts at Zacks downgraded shares of PacificNet from an outperform rating to a neutral rating in a research note to investors on Monday, February 4th. They now have a $9.00 price target on the stock.
PacificNet Inc. (PacificNet) is a developer and provider of gaming technology for the land-based, online and mobile game operators in Asia.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.