The Descartes Systems Group Inc. (DSGX) Expected to Announce Quarterly Sales of $55.74 Million
Analysts expect The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) to announce $55.74 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for The Descartes Systems Group’s earnings. The highest sales estimate is $56.04 million and the lowest is $55.57 million. The Descartes Systems Group posted sales of $50.52 million during the same quarter last year, which suggests a positive year over year growth rate of 10.3%. The company is scheduled to issue its next earnings results after the market closes on Wednesday, September 6th.
According to Zacks, analysts expect that The Descartes Systems Group will report full-year sales of $55.74 million for the current year, with estimates ranging from $224.16 million to $226.92 million. For the next year, analysts expect that the business will post sales of $249.55 million per share, with estimates ranging from $247.30 million to $252.91 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for The Descartes Systems Group.
The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Wednesday, May 31st. The technology company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.10 by $0.01. The Descartes Systems Group had a net margin of 11.80% and a return on equity of 5.78%. The business had revenue of $54.51 million for the quarter, compared to the consensus estimate of $54.09 million.
Several analysts have weighed in on the company. Zacks Investment Research cut The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Wednesday, June 7th. TD Securities restated a “buy” rating and issued a $29.00 price objective (up from $25.00) on shares of The Descartes Systems Group in a report on Wednesday, May 31st. Scotiabank boosted their price objective on shares of The Descartes Systems Group from $24.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, June 1st. BMO Capital Markets restated a “market perform” rating and issued a $35.00 price objective on shares of The Descartes Systems Group in a report on Thursday, June 1st. Finally, Morgan Stanley restated an “equal weight” rating and issued a $27.00 price objective (up from $25.00) on shares of The Descartes Systems Group in a report on Thursday, June 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The Descartes Systems Group currently has a consensus rating of “Buy” and a consensus price target of $32.44.
The Descartes Systems Group (DSGX) traded up 0.19% on Friday, reaching $26.40. The company had a trading volume of 48,526 shares. The Descartes Systems Group has a one year low of $19.75 and a one year high of $26.50. The company’s 50 day moving average is $24.65 and its 200-day moving average is $23.31. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 82.50 and a beta of 0.58.
Several institutional investors have recently added to or reduced their stakes in DSGX. US Bancorp DE increased its stake in shares of The Descartes Systems Group by 89.6% in the first quarter. US Bancorp DE now owns 4,825 shares of the technology company’s stock valued at $110,000 after buying an additional 2,280 shares during the period. Legal & General Group Plc increased its stake in The Descartes Systems Group by 6.8% in the second quarter. Legal & General Group Plc now owns 7,795 shares of the technology company’s stock valued at $189,000 after buying an additional 495 shares during the last quarter. Shell Asset Management Co. increased its stake in The Descartes Systems Group by 0.4% in the first quarter. Shell Asset Management Co. now owns 7,912 shares of the technology company’s stock valued at $241,000 after buying an additional 32 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in The Descartes Systems Group by 34.6% in the first quarter. Envestnet Asset Management Inc. now owns 10,015 shares of the technology company’s stock valued at $229,000 after buying an additional 2,573 shares during the last quarter. Finally, BB&T Corp bought a new stake in The Descartes Systems Group during the first quarter valued at approximately $254,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.
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About The Descartes Systems Group
Descartes Systems Group Inc (Descartes) is a Canada-based global provider of federated network and global logistics technology solutions that help its customers make and receive shipments and manage related resources. The Company’s network-based solutions, which primarily consist of services and software, connect people to their trading partners and enable business document exchange (bookings, bills of lading, status messages); regulatory compliance and customs filing; route and resource planning, execution and monitoring; access and leverage global trade and restricted party data; inventory and asset visibility; rate and transportation management, and warehouse operations.
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