Zacks: Brokerages Anticipate ePlus inc. (PLUS) to Announce $0.90 EPS
Wall Street brokerages forecast that ePlus inc. (NASDAQ:PLUS) will report $0.90 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for ePlus inc.’s earnings, with the highest EPS estimate coming in at $0.92 and the lowest estimate coming in at $0.87. ePlus inc. posted earnings per share of $0.96 in the same quarter last year, which would suggest a negative year-over-year growth rate of 6.2%. The firm is expected to issue its next earnings report on Thursday, February 1st.
On average, analysts expect that ePlus inc. will report full-year earnings of $4.00 per share for the current year, with EPS estimates ranging from $3.93 to $4.07. For the next financial year, analysts forecast that the firm will post earnings of $4.27 per share, with EPS estimates ranging from $4.17 to $4.37. Zacks’ EPS calculations are a mean average based on a survey of research firms that that provide coverage for ePlus inc..
Several research analysts have commented on the company. Zacks Investment Research lowered ePlus inc. from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 7th. Stifel Nicolaus reaffirmed a “hold” rating and set a $75.00 price target on shares of ePlus inc. in a research report on Tuesday, October 17th. ValuEngine lowered ePlus inc. from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, BidaskClub lowered ePlus inc. from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $58.77.
In other ePlus inc. news, Director Bruce M. Bowen sold 400 shares of ePlus inc. stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $82.57, for a total value of $33,028.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Elaine D. Marion sold 3,000 shares of ePlus inc. stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $93.40, for a total value of $280,200.00. The disclosure for this sale can be found here. Insiders sold a total of 23,000 shares of company stock worth $2,051,420 over the last quarter. Company insiders own 3.25% of the company’s stock.
Several hedge funds have recently made changes to their positions in PLUS. Teachers Advisors LLC grew its stake in shares of ePlus inc. by 4.2% in the 1st quarter. Teachers Advisors LLC now owns 10,740 shares of the software maker’s stock valued at $1,450,000 after purchasing an additional 431 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of ePlus inc. by 8.6% in the first quarter. Vanguard Group Inc. now owns 456,262 shares of the software maker’s stock valued at $61,618,000 after buying an additional 36,176 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of ePlus inc. by 121.3% in the first quarter. Geode Capital Management LLC now owns 116,522 shares of the software maker’s stock valued at $7,868,000 after buying an additional 63,862 shares in the last quarter. Morgan Stanley boosted its stake in shares of ePlus inc. by 42.2% in the first quarter. Morgan Stanley now owns 31,811 shares of the software maker’s stock valued at $4,296,000 after buying an additional 9,445 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in shares of ePlus inc. by 84,983.9% in the first quarter. BlackRock Inc. now owns 792,982 shares of the software maker’s stock valued at $107,092,000 after buying an additional 792,050 shares in the last quarter. Institutional investors own 85.08% of the company’s stock.
Shares of ePlus inc. (PLUS) traded down $0.90 during midday trading on Friday, hitting $80.65. The stock had a trading volume of 36,219 shares, compared to its average volume of 80,803. The company has a quick ratio of 1.50, a current ratio of 1.65 and a debt-to-equity ratio of 0.01. ePlus inc. has a 1-year low of $54.28 and a 1-year high of $97.75. The firm has a market cap of $1,155.68, a price-to-earnings ratio of 20.83 and a beta of 1.34.
ePlus inc. declared that its board has approved a stock repurchase program on Friday, August 18th that permits the company to buyback 500,000 outstanding shares. This buyback authorization permits the software maker to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
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About ePlus inc.
ePlus inc. is a holding company. The Company is engaged in the business of selling, leasing, financing and managing information technology. It operates through two segments: technology and financing. The technology segment sells information technology (IT) hardware products, third-party software and maintenance contracts, its own and third-party professional and managed services, and its software.
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