Daktronics (NASDAQ:DAKT) issued its quarterly earnings data on Wednesday. The technology company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01, MarketWatch Earnings reports. The business had revenue of $172.70 million during the quarter, compared to analyst estimates of $170.01 million. Daktronics had a net margin of 0.29% and a return on equity of 2.96%. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the business earned $0.16 EPS.

Daktronics stock opened at $7.68 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.37. Daktronics has a 52-week low of $7.14 and a 52-week high of $10.11. The company has a market cap of $342.44 million, a price-to-earnings ratio of 59.08 and a beta of 1.01.

DAKT has been the subject of several analyst reports. Singular Research lowered their price target on shares of Daktronics from $12.00 to $10.00 and set a “buy” rating for the company in a report on Friday, September 21st. BidaskClub lowered shares of Daktronics from a “hold” rating to a “sell” rating in a report on Tuesday, August 28th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Daktronics presently has an average rating of “Hold” and an average target price of $10.00.

A number of institutional investors have recently added to or reduced their stakes in DAKT. BlackRock Inc. raised its holdings in Daktronics by 7.7% during the 2nd quarter. BlackRock Inc. now owns 5,220,944 shares of the technology company’s stock worth $44,431,000 after purchasing an additional 373,936 shares during the last quarter. Lesa Sroufe & Co acquired a new stake in shares of Daktronics during the 3rd quarter worth approximately $2,845,000. First Bank & Trust grew its position in shares of Daktronics by 26.7% during the 2nd quarter. First Bank & Trust now owns 1,152,259 shares of the technology company’s stock worth $9,806,000 after buying an additional 242,810 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Daktronics by 5.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,966,351 shares of the technology company’s stock worth $25,244,000 after buying an additional 150,674 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of Daktronics by 19.6% during the 2nd quarter. Renaissance Technologies LLC now owns 708,000 shares of the technology company’s stock worth $6,025,000 after buying an additional 116,200 shares during the period. Hedge funds and other institutional investors own 61.09% of the company’s stock.

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About Daktronics

Daktronics, Inc designs, manufactures, and sells a range of electronic display systems and related products worldwide. It operates through five segments: Commercial, Live Events, High School Park and Recreation, Transportation, and International. The company offers video display systems, such as displays to show various levels of video, graphics, and animation; LED ribbon board displays; mobile and modular display systems; freeform LED displays, which include architectural lighting and display products; indoor and outdoor scoreboards for various sports, digit displays, scoring and timing controllers, statistics software, and other related products; and timing systems for sports events primarily aquatics and track competitions, as well as swimming touchpads, race start systems, and relay take-off platforms.

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Earnings History for Daktronics (NASDAQ:DAKT)

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