Analysts expect Telenav Inc (NASDAQ:TNAV) to report $13.52 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Telenav’s earnings. The lowest sales estimate is $13.45 million and the highest is $13.60 million. Telenav posted sales of $35.07 million during the same quarter last year, which would suggest a negative year over year growth rate of 61.4%. The business is expected to report its next earnings results on Tuesday, May 1st.
According to Zacks, analysts expect that Telenav will report full year sales of $13.52 million for the current year, with estimates ranging from $103.26 million to $103.40 million. For the next financial year, analysts anticipate that the firm will report sales of $227.18 million per share, with estimates ranging from $185.00 million to $269.37 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Telenav.
Telenav (NASDAQ:TNAV) last issued its quarterly earnings data on Thursday, February 1st. The technology company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.02. The business had revenue of $39.10 million during the quarter, compared to the consensus estimate of $39.03 million. Telenav had a negative net margin of 38.56% and a negative return on equity of 56.00%. The company’s revenue was down 24.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.26) EPS.
Shares of NASDAQ:TNAV traded down $0.05 during trading on Friday, hitting $5.20. 17,510 shares of the company were exchanged, compared to its average volume of 78,823. Telenav has a 12-month low of $4.50 and a 12-month high of $9.25.
In other Telenav news, CEO H.P. Jin purchased 20,000 shares of Telenav stock in a transaction that occurred on Tuesday, February 20th. The stock was purchased at an average price of $5.66 per share, for a total transaction of $113,200.00. Following the transaction, the chief executive officer now directly owns 1,399,854 shares in the company, valued at $7,923,173.64. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 24.67% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund raised its position in Telenav by 28.9% in the 3rd quarter. New York State Common Retirement Fund now owns 347,305 shares of the technology company’s stock valued at $2,205,000 after purchasing an additional 77,900 shares during the last quarter. Ariel Investments LLC raised its position in Telenav by 21.2% in the 4th quarter. Ariel Investments LLC now owns 3,609,773 shares of the technology company’s stock valued at $19,854,000 after purchasing an additional 632,037 shares during the last quarter. SG Americas Securities LLC acquired a new position in Telenav in the 4th quarter valued at $139,000. King Luther Capital Management Corp acquired a new position in Telenav in the 4th quarter valued at $242,000. Finally, Divisar Capital Management LLC increased its stake in Telenav by 5.0% in the 4th quarter. Divisar Capital Management LLC now owns 3,728,204 shares of the technology company’s stock valued at $20,505,000 after buying an additional 178,013 shares during the period. Hedge funds and other institutional investors own 52.42% of the company’s stock.
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Telenav Company Profile
TeleNav, Inc (Telenav) is a provider of location-based platform services. The Company’s services consist of its automotive and mobile navigation platform and its advertising delivery platform. The Company operates through three segments: automotive, advertising and mobile navigation. The automotive segment provides its map and navigation platform to auto manufacturers and original equipment manufacturers (OEMs) for distribution with their vehicles.
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