The Digi International Inc. (DGII) Posts Earnings Results, Beats Estimates By $0.03 EPS

The Digi International Inc. (DGII) Posts  Earnings Results, Beats Estimates By $0.03 EPS

Digi International Inc. (NASDAQ:DGII) announced its earnings results on Thursday. The company reported $0.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.03. Digi International had a net margin of 8.23% and a return on equity of 4.44%. The company earned $50.45 million during the quarter, compared to the consensus estimate of $42.85 million. During the same period in the previous year, the firm posted $0.14 earnings per share. The company’s revenue was down 6.9% on a year-over-year basis. Digi International updated its Q1 guidance to $0.06-0.08 EPS and its FY17 guidance to $0.38-0.46 EPS.

Shares of Digi International (NASDAQ:DGII) opened at 9.70 on Monday. The company’s 50 day moving average is $11.21 and its 200-day moving average is $10.97. Digi International has a 1-year low of $7.70 and a 1-year high of $13.52. The company has a market capitalization of $251.82 million, a P/E ratio of 15.93 and a beta of 1.24.

A number of institutional investors have recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC raised its position in Digi International by 22.4% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 94,696 shares of the company’s stock worth $1,016,000 after buying an additional 17,319 shares in the last quarter. California State Teachers Retirement System raised its position in Digi International by 3.0% in the second quarter. California State Teachers Retirement System now owns 54,345 shares of the company’s stock worth $583,000 after buying an additional 1,592 shares in the last quarter. Loomis Sayles & Co. L P raised its position in Digi International by 16.0% in the first quarter. Loomis Sayles & Co. L P now owns 648,580 shares of the company’s stock worth $6,116,000 after buying an additional 89,656 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in Digi International during the second quarter worth approximately $3,039,000. Finally, Hancock Holding Co. acquired a new position in Digi International during the second quarter worth approximately $322,000. 82.34% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have weighed in on DGII shares. Canaccord Genuity reaffirmed a “buy” rating and issued a $17.00 target price on shares of Digi International in a research note on Friday, July 29th. Zacks Investment Research downgraded shares of Digi International from a “buy” rating to a “hold” rating in a research note on Wednesday, September 28th. Finally, Sidoti downgraded shares of Digi International from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 24th.

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