Analysts Expect Inseego Corp. (NASDAQ:INSG) Will Announce Earnings of -$0.06 Per Share

Equities research analysts expect Inseego Corp. (NASDAQ:INSG) to announce earnings of ($0.06) per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Inseego’s earnings, with estimates ranging from ($0.07) to ($0.05). Inseego posted earnings per share of ($0.07) in the same quarter last year, which suggests a positive year over year growth rate of 14.3%. The company is scheduled to announce its next quarterly earnings report on Monday, March 7th.

On average, analysts expect that Inseego will report full year earnings of ($0.30) per share for the current year, with EPS estimates ranging from ($0.31) to ($0.29). For the next year, analysts anticipate that the company will post earnings of ($0.20) per share, with EPS estimates ranging from ($0.23) to ($0.17). Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Inseego.

Inseego (NASDAQ:INSG) last issued its quarterly earnings results on Wednesday, November 3rd. The technology company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.03. The business had revenue of $66.22 million for the quarter, compared to analysts’ expectations of $65.16 million. During the same period in the prior year, the company earned ($0.06) EPS.

INSG has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Inseego from a “hold” rating to a “sell” rating in a research note on Tuesday, August 3rd. Roth Capital reduced their price target on Inseego from $8.50 to $7.50 and set a “neutral” rating on the stock in a research note on Thursday, August 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Inseego has a consensus rating of “Hold” and an average price target of $11.30.

Shares of Inseego stock traded up $0.22 during trading hours on Thursday, reaching $6.82. 963,587 shares of the company’s stock were exchanged, compared to its average volume of 2,193,542. Inseego has a 52-week low of $5.94 and a 52-week high of $21.93. The firm has a market capitalization of $716.96 million, a price-to-earnings ratio of -12.40 and a beta of 1.56. The company has a fifty day moving average of $6.83 and a 200-day moving average of $8.17.

In related news, CEO Dan Mondor purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, November 16th. The stock was purchased at an average cost of $6.81 per share, for a total transaction of $68,100.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, President Ashish Sharma purchased 5,000 shares of the stock in a transaction that occurred on Monday, November 22nd. The stock was bought at an average price of $6.90 per share, with a total value of $34,500.00. The disclosure for this purchase can be found here. Company insiders own 2.80% of the company’s stock.

Several institutional investors have recently made changes to their positions in INSG. Patriot Financial Group Insurance Agency LLC grew its stake in shares of Inseego by 103.8% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 2,650 shares of the technology company’s stock valued at $27,000 after acquiring an additional 1,350 shares in the last quarter. US Bancorp DE grew its stake in shares of Inseego by 302.7% during the third quarter. US Bancorp DE now owns 4,756 shares of the technology company’s stock valued at $32,000 after acquiring an additional 3,575 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of Inseego by 329.4% during the third quarter. Rockefeller Capital Management L.P. now owns 9,125 shares of the technology company’s stock valued at $60,000 after acquiring an additional 7,000 shares in the last quarter. SRS Capital Advisors Inc. acquired a new stake in shares of Inseego during the second quarter valued at about $71,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Inseego during the third quarter valued at about $80,000. Institutional investors own 68.04% of the company’s stock.

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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