Bentley Systems, Incorporated (NASDAQ:BSY) Expected to Announce Quarterly Sales of $214.76 Million


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Analysts expect Bentley Systems, Incorporated (NASDAQ:BSY) to announce $214.76 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Bentley Systems’ earnings. The highest sales estimate is $216.92 million and the lowest is $212.60 million. The company is scheduled to report its next quarterly earnings report on Tuesday, June 1st.

According to Zacks, analysts expect that Bentley Systems will report full-year sales of $905.95 million for the current fiscal year, with estimates ranging from $901.90 million to $910.00 million. For the next financial year, analysts anticipate that the firm will report sales of $989.55 million, with estimates ranging from $986.29 million to $992.80 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Bentley Systems.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings results on Monday, March 1st. The company reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.01. The firm had revenue of $219.60 million during the quarter, compared to analysts’ expectations of $212.80 million. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year.

BSY has been the topic of several recent research reports. KeyCorp upped their price target on Bentley Systems from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday. Zacks Investment Research raised Bentley Systems from a “sell” rating to a “hold” rating in a research note on Monday, March 8th. Finally, Mizuho increased their target price on Bentley Systems from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, March 3rd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $43.71.

In other news, major shareholder Richard P. Bentley sold 22,062 shares of the company’s stock in a transaction on Monday, March 22nd. The stock was sold at an average price of $41.14, for a total transaction of $907,630.68. Following the transaction, the insider now directly owns 1,677,938 shares of the company’s stock, valued at $69,030,369.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Richard P. Bentley sold 173,000 shares of the stock in a transaction dated Wednesday, March 31st. The shares were sold at an average price of $47.02, for a total value of $8,134,460.00. Over the last ninety days, insiders have sold 588,545 shares of company stock worth $27,861,163.

Hedge funds have recently bought and sold shares of the business. Allstate Corp raised its stake in shares of Bentley Systems by 5.7% in the fourth quarter. Allstate Corp now owns 8,769 shares of the company’s stock worth $356,000 after buying an additional 469 shares during the period. Teachers Retirement System of The State of Kentucky bought a new position in shares of Bentley Systems in the third quarter worth about $60,000. Graves Light Private Wealth Management Inc. bought a new position in shares of Bentley Systems in the fourth quarter worth about $84,000. JPMorgan Chase & Co. raised its stake in shares of Bentley Systems by 0.4% in the fourth quarter. JPMorgan Chase & Co. now owns 581,614 shares of the company’s stock worth $23,561,000 after buying an additional 2,479 shares during the period. Finally, Morgan Stanley bought a new position in shares of Bentley Systems in the third quarter worth about $176,000. 4.85% of the stock is currently owned by institutional investors.

BSY stock traded up $1.23 during midday trading on Wednesday, hitting $50.94. The stock had a trading volume of 1,296,407 shares, compared to its average volume of 663,959. The business has a 50-day moving average of $46.52 and a two-hundred day moving average of $41.59. Bentley Systems has a 52-week low of $27.00 and a 52-week high of $54.62. The company has a debt-to-equity ratio of 82.19, a current ratio of 0.80 and a quick ratio of 0.80.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 24th. Stockholders of record on Wednesday, March 10th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date was Tuesday, March 9th.

Bentley Systems Company Profile

Bentley Systems, Incorporated, together with its subsidiaries, provides infrastructure engineering software solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers open modeling and open simulation applications for infrastructure design integration, which include MicroStation, OpenRoads, OpenRail, OpenPlant, OpenBuildings, OpenBridge, OpenSite, OpenWindPower, OpenTower, STAAD and RAM, LEAP and RM, SACS, MOSES, PLAXIS, SITEOPS, AutoPIPE, and LumenRT.

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Earnings History and Estimates for Bentley Systems (NASDAQ:BSY)

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