Daktronics (NASDAQ:DAKT) Releases Earnings Results, Beats Estimates By $0.13 EPS

Daktronics (NASDAQ:DAKT) released its quarterly earnings data on Wednesday. The technology company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.13, reports. Daktronics had a net margin of 4.23% and a return on equity of 25.55%. The company had revenue of $215.88 million during the quarter, compared to analyst estimates of $179.28 million.

Daktronics Trading Up 1.3 %

Shares of DAKT opened at $13.47 on Friday. The firm’s 50 day simple moving average is $10.91 and its 200 day simple moving average is $9.38. The company has a market capitalization of $622.18 million, a P/E ratio of 22.08, a P/E/G ratio of 0.53 and a beta of 1.06. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.09 and a quick ratio of 1.38. Daktronics has a 1-year low of $5.99 and a 1-year high of $14.15.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Daktronics from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Breach Inlet Capital Management LLC purchased a new position in shares of Daktronics during the fourth quarter worth approximately $11,508,000. Anchor Capital Advisors LLC raised its stake in shares of Daktronics by 161.4% during the fourth quarter. Anchor Capital Advisors LLC now owns 136,557 shares of the technology company’s stock worth $1,158,000 after acquiring an additional 84,324 shares in the last quarter. Quadrature Capital Ltd raised its stake in shares of Daktronics by 29.3% during the third quarter. Quadrature Capital Ltd now owns 41,663 shares of the technology company’s stock worth $371,000 after acquiring an additional 9,451 shares in the last quarter. Invesco Ltd. raised its stake in shares of Daktronics by 21.0% during the third quarter. Invesco Ltd. now owns 761,239 shares of the technology company’s stock worth $6,790,000 after acquiring an additional 132,223 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of Daktronics by 831.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,376 shares of the technology company’s stock worth $71,000 after acquiring an additional 7,477 shares in the last quarter. 61.69% of the stock is owned by hedge funds and other institutional investors.

About Daktronics

Daktronics, Inc designs, manufactures, and markets electronic display systems and related products for sporting, commercial, and transportation applications in the United States and internationally. It operates through Commercial, Live Events, High School Park and Recreation, Transportation, and International segments.