-$0.28 Earnings Per Share Expected for Instructure, Inc. (INST) This Quarter
Analysts forecast that Instructure, Inc. (NYSE:INST) will announce earnings per share (EPS) of ($0.28) for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Instructure’s earnings, with the highest EPS estimate coming in at ($0.27) and the lowest estimate coming in at ($0.29). Instructure posted earnings of ($0.35) per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 20%. The business is expected to report its next quarterly earnings results on Monday, February 5th.
On average, analysts expect that Instructure will report full-year earnings of ($1.20) per share for the current year, with EPS estimates ranging from ($1.21) to ($1.19). For the next financial year, analysts expect that the business will report earnings of ($0.82) per share, with EPS estimates ranging from ($1.05) to ($0.60). Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Instructure.
Instructure (NYSE:INST) last announced its earnings results on Monday, October 30th. The technology company reported ($0.27) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.31) by $0.04. Instructure had a negative net margin of 34.82% and a negative return on equity of 827.22%. The business had revenue of $42.95 million for the quarter, compared to analyst estimates of $40.57 million. During the same quarter in the previous year, the firm posted ($0.34) earnings per share. Instructure’s revenue was up 42.5% compared to the same quarter last year.
Several brokerages have recently commented on INST. Zacks Investment Research downgraded shares of Instructure from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. BidaskClub cut Instructure from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Oppenheimer reissued a “buy” rating and issued a $41.00 price objective (up previously from $38.00) on shares of Instructure in a research report on Tuesday, October 31st. Jefferies Group boosted their price objective on Instructure to $43.00 and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Finally, William Blair began coverage on Instructure in a research report on Thursday, October 26th. They issued a “market perform” rating on the stock. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $37.44.
Instructure (NYSE:INST) traded up $0.50 on Friday, reaching $34.75. 198,100 shares of the company’s stock were exchanged, compared to its average volume of 252,106. Instructure has a 1 year low of $18.80 and a 1 year high of $36.60.
In related news, SVP Matthew Kaminer sold 3,000 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $34.61, for a total transaction of $103,830.00. Following the sale, the senior vice president now directly owns 16,146 shares in the company, valued at approximately $558,813.06. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Steven B. Kaminsky sold 12,500 shares of the company’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $35.00, for a total value of $437,500.00. Following the completion of the transaction, the chief financial officer now owns 143,345 shares in the company, valued at $5,017,075. The disclosure for this sale can be found here. In the last three months, insiders sold 61,517 shares of company stock worth $2,086,223. Insiders own 12.80% of the company’s stock.
Several institutional investors have recently made changes to their positions in INST. Legal & General Group Plc increased its position in shares of Instructure by 54.6% during the 2nd quarter. Legal & General Group Plc now owns 4,076 shares of the technology company’s stock valued at $121,000 after purchasing an additional 1,440 shares during the last quarter. American International Group Inc. boosted its holdings in Instructure by 7.1% during the 1st quarter. American International Group Inc. now owns 6,466 shares of the technology company’s stock valued at $151,000 after acquiring an additional 426 shares during the period. Tower Research Capital LLC TRC purchased a new stake in Instructure during the 2nd quarter valued at about $184,000. Metropolitan Life Insurance Co. NY purchased a new stake in Instructure during the 1st quarter valued at about $192,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Instructure during the 3rd quarter valued at about $213,000. Hedge funds and other institutional investors own 78.90% of the company’s stock.
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Instructure, Inc provides cloud-based learning management platform for academic institutions and companies across the world. The Company operates in the cloud-based learning management systems segment. The Company builds its learning management applications, Canvas for the education market and Bridge for the corporate market, to enable its customers to develop, deliver and manage face-to-face and online learning experiences.
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