Zacks: Analysts Anticipate Dropbox Inc (DBX) to Post $0.06 Earnings Per Share
Equities research analysts expect Dropbox Inc (NASDAQ:DBX) to announce earnings of $0.06 per share for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Dropbox’s earnings. The lowest EPS estimate is $0.05 and the highest is $0.07. The firm is scheduled to issue its next quarterly earnings results on Thursday, November 8th.
According to Zacks, analysts expect that Dropbox will report full year earnings of $0.31 per share for the current year, with EPS estimates ranging from $0.29 to $0.33. For the next financial year, analysts anticipate that the business will report earnings of $0.40 per share, with EPS estimates ranging from $0.35 to $0.45. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that cover Dropbox.
Dropbox (NASDAQ:DBX) last released its quarterly earnings data on Thursday, August 9th. The company reported $0.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.05. The business had revenue of $339.20 million for the quarter, compared to analyst estimates of $330.90 million. During the same quarter in the previous year, the company posted $0.06 EPS. The business’s quarterly revenue was up 27.2% on a year-over-year basis.
DBX traded up $1.02 during trading on Monday, hitting $26.76. 6,299,721 shares of the company’s stock were exchanged, compared to its average volume of 7,420,657. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.39 and a current ratio of 1.39. Dropbox has a fifty-two week low of $24.78 and a fifty-two week high of $43.50.
In related news, Director Condoleezza Rice sold 25,000 shares of the stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $27.23, for a total transaction of $680,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ajay Vashee sold 13,731 shares of the stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $27.23, for a total transaction of $373,895.13. The disclosure for this sale can be found here. In the last quarter, insiders sold 304,399 shares of company stock valued at $8,282,591.
A number of institutional investors and hedge funds have recently bought and sold shares of DBX. Wells Fargo & Company MN bought a new position in Dropbox during the first quarter valued at about $1,133,000. Hodges Capital Management Inc. bought a new position in Dropbox during the first quarter valued at about $3,125,000. American Century Companies Inc. bought a new position in Dropbox during the first quarter valued at about $2,031,000. Victory Capital Management Inc. bought a new position in Dropbox during the first quarter valued at about $17,775,000. Finally, Massachusetts Financial Services Co. MA bought a new position in Dropbox during the first quarter valued at about $37,382,000. Institutional investors own 13.82% of the company’s stock.
Dropbox Inc provides a collaboration platform worldwide. Its platform allows individuals, teams, and organizations to create, access, and share content online. The company was formerly known as Evenflow, Inc and changed its name to Dropbox, Inc in October 2009. Dropbox Inc was founded in 2007 and is headquartered in San Francisco, California.
Recommended Story: Stock Symbol
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Dropbox Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dropbox and related companies with MarketBeat.com's FREE daily email newsletter.