$81.85 Million in Sales Expected for Descartes Systems Group Inc (NASDAQ:DSGX) This Quarter

Analysts forecast that Descartes Systems Group Inc (NASDAQ:DSGX) (TSE:DSG) will announce $81.85 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Descartes Systems Group’s earnings, with the lowest sales estimate coming in at $80.50 million and the highest estimate coming in at $83.20 million. Descartes Systems Group posted sales of $80.54 million during the same quarter last year, which would indicate a positive year over year growth rate of 1.6%. The business is scheduled to issue its next quarterly earnings report on Wednesday, September 2nd.

According to Zacks, analysts expect that Descartes Systems Group will report full year sales of $340.47 million for the current fiscal year, with estimates ranging from $336.50 million to $342.90 million. For the next year, analysts forecast that the company will post sales of $376.35 million, with estimates ranging from $375.00 million to $377.70 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Descartes Systems Group.

Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Wednesday, May 27th. The technology company reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. The firm had revenue of $83.70 million for the quarter, compared to the consensus estimate of $85.19 million. Descartes Systems Group had a return on equity of 5.02% and a net margin of 12.27%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.09 earnings per share.

Several analysts have recently commented on the stock. Scotiabank raised their price objective on shares of Descartes Systems Group from $42.00 to $45.00 and gave the company a “sector outperform” rating in a research report on Tuesday, May 26th. Raymond James set a $42.00 price target on Descartes Systems Group and gave the company a “market perform” rating in a report on Thursday, May 28th. TheStreet raised Descartes Systems Group from a “c+” rating to a “b-” rating in a research note on Tuesday, May 5th. BidaskClub raised Descartes Systems Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 16th. Finally, Royal Bank of Canada upped their price target on Descartes Systems Group from $50.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, June 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $47.00.

NASDAQ:DSGX traded up $1.37 during trading hours on Friday, hitting $54.13. 137,950 shares of the stock traded hands, compared to its average volume of 182,574. The company has a market cap of $4.56 billion, a price-to-earnings ratio of 115.17 and a beta of 1.06. Descartes Systems Group has a 1 year low of $24.35 and a 1 year high of $54.40. The stock has a 50 day moving average price of $48.56 and a 200 day moving average price of $43.09. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.02.

A number of hedge funds have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Descartes Systems Group by 12.6% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,478,135 shares of the technology company’s stock worth $85,301,000 after buying an additional 277,610 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Descartes Systems Group by 8.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,409,028 shares of the technology company’s stock worth $82,847,000 after acquiring an additional 197,445 shares in the last quarter. Janus Henderson Group PLC increased its stake in Descartes Systems Group by 2.1% during the fourth quarter. Janus Henderson Group PLC now owns 2,406,341 shares of the technology company’s stock worth $102,907,000 after acquiring an additional 49,354 shares during the last quarter. Norges Bank bought a new stake in Descartes Systems Group during the fourth quarter worth approximately $67,327,000. Finally, Echo Street Capital Management LLC raised its position in Descartes Systems Group by 12.5% during the first quarter. Echo Street Capital Management LLC now owns 1,561,857 shares of the technology company’s stock valued at $53,746,000 after purchasing an additional 173,171 shares during the period. Institutional investors and hedge funds own 78.86% of the company’s stock.

Descartes Systems Group Company Profile

The Descartes Systems Group Inc provides federated network and logistics technology solutions worldwide. Its Logistics Application Suite offers a range of modular, cloud-based, and interoperable Web and wireless logistics management applications. The company's Logistics Application Suite offers solutions, such as route planning and execution, mobile applications, and telematics and compliance; transportation management solutions comprising carrier compliance and rate management, freight audit and settlement, dock scheduling and yard management, pool distribution, transportation planning and execution, and logistics flow control, as well as visibility, tracking, and performance management; and global logistics network services, such as document management, community, and connectivity services.

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Earnings History and Estimates for Descartes Systems Group (NASDAQ:DSGX)

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