Zacks: Brokerages Expect Absolute Software Co. (NASDAQ:ABST) Will Announce Earnings of $0.05 Per Share

Wall Street analysts forecast that Absolute Software Co. (NASDAQ:ABST) will post earnings of $0.05 per share for the current quarter, Zacks reports. Three analysts have provided estimates for Absolute Software’s earnings. The highest EPS estimate is $0.07 and the lowest is $0.04. Absolute Software also reported earnings of $0.05 per share during the same quarter last year. The company is scheduled to issue its next earnings results after the market closes on Tuesday, August 10th.

On average, analysts expect that Absolute Software will report full-year earnings of $0.20 per share for the current fiscal year, with EPS estimates ranging from $0.19 to $0.21. For the next financial year, analysts forecast that the business will report earnings of $0.32 per share, with EPS estimates ranging from $0.24 to $0.46. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Absolute Software.

Absolute Software (NASDAQ:ABST) last announced its quarterly earnings results on Monday, May 10th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. Absolute Software had a negative return on equity of 19.49% and a net margin of 7.71%. The firm had revenue of $30.65 million for the quarter, compared to analyst estimates of $29.63 million.

ABST has been the topic of several analyst reports. TD Securities lifted their target price on Absolute Software from $17.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, May 13th. Canaccord Genuity lifted their target price on Absolute Software from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, May 12th. BMO Capital Markets lowered their price target on Absolute Software from $21.00 to $20.00 and set a “market perform” rating for the company in a report on Wednesday, May 12th. Raymond James raised their price target on Absolute Software from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, May 12th. Finally, National Bank Financial lowered their price target on Absolute Software from C$21.00 to C$20.00 and set a “sector perform” rating for the company in a report on Thursday, May 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $20.00.

Several institutional investors have recently added to or reduced their stakes in the stock. Paloma Partners Management Co acquired a new stake in shares of Absolute Software during the first quarter worth about $269,000. D. E. Shaw & Co. Inc. acquired a new stake in shares of Absolute Software during the first quarter worth about $993,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Absolute Software during the first quarter worth about $344,000. Citadel Advisors LLC acquired a new stake in shares of Absolute Software during the first quarter worth about $292,000. Finally, Man Group plc acquired a new stake in shares of Absolute Software during the first quarter worth about $196,000. 59.72% of the stock is owned by hedge funds and other institutional investors.

ABST traded down $0.09 on Friday, hitting $13.73. The company had a trading volume of 1,757 shares, compared to its average volume of 65,043. The company has a fifty day simple moving average of $14.09. Absolute Software has a 12-month low of $9.36 and a 12-month high of $21.20. The stock has a market cap of $680.18 million, a PE ratio of 72.74 and a beta of 0.89.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 27th. Investors of record on Wednesday, August 11th will be issued a dividend of $0.0626 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date is Tuesday, August 10th. Absolute Software’s dividend payout ratio (DPR) is 108.33%.

About Absolute Software

Absolute Software Corporation develops, markets, and provides cloud-based endpoint visibility and control platform for the management and security of computing devices, applications, and data for enterprise and public sector organizations. The company offers the Absolute platform to provide the connectivity, visibility, and control of data and devices of the operating system; to recover automatically to a secure operational state without user intervention; to support various other security controls and productivity tools from decay and vulnerabilities; and to enable measurement of the health, compliance, and state of decay of endpoint security controls and productivity tools, as well as for reporting and analytics, geotechnology, and endpoint investigation and recovery applications.

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