Zacks: Analysts Expect Inseego Corp (INSG) to Announce $0.01 EPS

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Analysts predict that Inseego Corp (NASDAQ:INSG) will post $0.01 earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have made estimates for Inseego’s earnings. The lowest EPS estimate is $0.00 and the highest is $0.01. Inseego reported earnings per share of ($0.02) during the same quarter last year, which suggests a positive year-over-year growth rate of 150%. The company is expected to issue its next quarterly earnings results on Wednesday, March 6th.

According to Zacks, analysts expect that Inseego will report full-year earnings of ($0.05) per share for the current year, with EPS estimates ranging from ($0.06) to ($0.04). For the next financial year, analysts forecast that the business will post earnings of $0.09 per share, with EPS estimates ranging from $0.06 to $0.12. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Inseego.

A number of analysts have issued reports on INSG shares. Canaccord Genuity raised Inseego from a “hold” rating to a “buy” rating and raised their target price for the stock from $2.25 to $4.50 in a research note on Thursday, September 6th. Northland Securities raised their target price on Inseego from $3.00 to $4.50 and gave the stock an “outperform” rating in a research note on Tuesday, September 11th. BidaskClub downgraded Inseego from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 9th. Roth Capital started coverage on Inseego in a research note on Friday, October 12th. They issued a “buy” rating and a $5.00 target price for the company. Finally, Lake Street Capital set a $5.00 target price on Inseego and gave the stock a “buy” rating in a research note on Wednesday, November 7th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Inseego currently has an average rating of “Buy” and an average price target of $4.75.

Shares of INSG traded down $0.04 during midday trading on Friday, reaching $3.75. The company had a trading volume of 221,344 shares, compared to its average volume of 435,040. Inseego has a 1-year low of $1.38 and a 1-year high of $4.49. The company has a market capitalization of $287.70 million, a PE ratio of -4.81 and a beta of 0.37.

Large investors have recently modified their holdings of the stock. Family Management Corp increased its position in shares of Inseego by 525.0% during the 2nd quarter. Family Management Corp now owns 262,502 shares of the technology company’s stock worth $527,000 after purchasing an additional 220,502 shares during the last quarter. BlackRock Inc. increased its position in shares of Inseego by 3.1% during the 2nd quarter. BlackRock Inc. now owns 1,047,118 shares of the technology company’s stock worth $2,105,000 after purchasing an additional 31,469 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Inseego by 21.6% during the 2nd quarter. Renaissance Technologies LLC now owns 451,900 shares of the technology company’s stock worth $908,000 after purchasing an additional 80,400 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in shares of Inseego during the 3rd quarter worth about $499,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Inseego during the 3rd quarter worth about $380,000. 6.69% of the stock is owned by hedge funds and other institutional investors.

Inseego Company Profile

Inseego Corp., together with its subsidiaries, provides software-as-a-service (SaaS), Internet of Things (IoT), and mobile solutions worldwide. The company sells SaaS, software, and service solutions across multiple IoT vertical markets, including fleet management and vehicle telematics, aviation, usage-based insurance, stolen vehicle recovery, asset tracking and monitoring, business connectivity, and subscription management.

Further Reading: How to calculate the intrinsic value of a stock

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