Brokerages expect Cinedigm Corp (NASDAQ:CIDM) to announce sales of $12.87 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Cinedigm’s earnings, with the highest sales estimate coming in at $13.03 million and the lowest estimate coming in at $12.71 million. Cinedigm reported sales of $18.49 million during the same quarter last year, which indicates a negative year over year growth rate of 30.4%. The business is scheduled to announce its next quarterly earnings results on Wednesday, February 13th.
According to Zacks, analysts expect that Cinedigm will report full-year sales of $51.46 million for the current financial year, with estimates ranging from $50.98 million to $51.94 million. For the next financial year, analysts expect that the firm will report sales of $36.35 million, with estimates ranging from $33.55 million to $39.15 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Cinedigm.
Cinedigm (NASDAQ:CIDM) last announced its quarterly earnings data on Wednesday, November 14th. The business services provider reported ($0.09) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.07. The business had revenue of $13.74 million during the quarter, compared to analysts’ expectations of $11.01 million.
An institutional investor recently raised its position in Cinedigm stock. Renaissance Technologies LLC grew its holdings in Cinedigm Corp (NASDAQ:CIDM) by 17.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 859,423 shares of the business services provider’s stock after buying an additional 125,283 shares during the period. Renaissance Technologies LLC owned approximately 2.45% of Cinedigm worth $1,332,000 as of its most recent filing with the Securities & Exchange Commission. 7.81% of the stock is currently owned by institutional investors and hedge funds.
CIDM remained flat at $$0.77 during midday trading on Friday. 36,022 shares of the company’s stock were exchanged, compared to its average volume of 63,530. The stock has a market capitalization of $27.13 million, a PE ratio of -0.95 and a beta of 0.19. Cinedigm has a twelve month low of $0.49 and a twelve month high of $1.81.
Cinedigm Company Profile
Cinedigm Corp., together with its subsidiaries, operates as distributor and aggregator of independent movie, television, and other short form content primarily in the United States. The company operates through four segments: The First Digital Cinema Deployment, The Second Digital Cinema Deployment, Digital Cinema Services, and Media Content and Entertainment Group.
Featured Article: Investing in Growth Stocks
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cinedigm Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cinedigm and related companies with MarketBeat.com's FREE daily email newsletter.