Inseego Corp. (NASDAQ:INSG) Expected to Announce Earnings of -$0.07 Per Share

Wall Street brokerages forecast that Inseego Corp. (NASDAQ:INSG) will announce earnings of ($0.07) per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Inseego’s earnings, with the lowest EPS estimate coming in at ($0.07) and the highest estimate coming in at ($0.06). Inseego posted earnings per share of $0.01 in the same quarter last year, which indicates a negative year-over-year growth rate of 800%. The business is expected to issue its next earnings results on Thursday, November 4th.

According to Zacks, analysts expect that Inseego will report full year earnings of ($0.27) per share for the current year, with EPS estimates ranging from ($0.27) to ($0.26). For the next financial year, analysts expect that the company will report earnings of ($0.13) per share, with EPS estimates ranging from ($0.16) to ($0.09). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow Inseego.

Inseego (NASDAQ:INSG) last posted its earnings results on Wednesday, August 4th. The technology company reported ($0.08) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.08). The company had revenue of $65.69 million for the quarter, compared to analysts’ expectations of $57.81 million. During the same quarter in the prior year, the company earned ($0.01) EPS. The firm’s quarterly revenue was down 18.6% on a year-over-year basis.

Several equities research analysts recently issued reports on INSG shares. Roth Capital lowered their price objective on Inseego from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Thursday, August 5th. Zacks Investment Research lowered shares of Inseego from a “hold” rating to a “sell” rating in a research report on Tuesday, August 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $11.25.

Shares of INSG stock opened at $7.07 on Wednesday. The business has a fifty day moving average of $8.32 and a 200 day moving average of $8.99. The firm has a market capitalization of $729.49 million, a price-to-earnings ratio of -13.60 and a beta of 1.62. Inseego has a 1 year low of $7.03 and a 1 year high of $21.93.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. raised its stake in shares of Inseego by 22.6% in the 1st quarter. Victory Capital Management Inc. now owns 13,400 shares of the technology company’s stock valued at $134,000 after acquiring an additional 2,467 shares during the period. Commonwealth Equity Services LLC grew its holdings in Inseego by 33.8% during the 1st quarter. Commonwealth Equity Services LLC now owns 96,382 shares of the technology company’s stock worth $963,000 after acquiring an additional 24,341 shares in the last quarter. Swiss National Bank grew its holdings in Inseego by 1.6% during the 1st quarter. Swiss National Bank now owns 146,800 shares of the technology company’s stock worth $1,468,000 after acquiring an additional 2,300 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Inseego by 266.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 154,531 shares of the technology company’s stock valued at $1,545,000 after buying an additional 112,398 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Inseego by 11.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 50,760 shares of the technology company’s stock valued at $508,000 after buying an additional 5,062 shares during the period. 45.85% of the stock is currently owned by institutional investors and hedge funds.

About Inseego

Inseego Corp. engages in the business of communications equipment. The firm’s products include mobile hotspots, industrial gateways and routers, home and enterprise routers, industrial USB modems, and telematics and mobile tracking hardware devices. Its SaaS platforms include Ctrack, an asset tracking and management solution that delivers business intelligence for fleets used in various verticals, including aviation, construction, government, and transport; and Device Management Solutions, a hosted subscription management platform.

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