Equities research analysts expect Telenav (NASDAQ:TNAV) to report sales of $15.58 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Telenav’s earnings, with the highest sales estimate coming in at $15.80 million and the lowest estimate coming in at $15.35 million. Telenav posted sales of $40.29 million in the same quarter last year, which suggests a negative year-over-year growth rate of 61.3%. The business is expected to announce its next earnings results on Thursday, August 2nd.
According to Zacks, analysts expect that Telenav will report full year sales of $105.16 million for the current year, with estimates ranging from $104.92 million to $105.40 million. For the next financial year, analysts expect that the company will post sales of $197.50 million per share, with estimates ranging from $184.90 million to $210.11 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Telenav.
Telenav (NASDAQ:TNAV) last announced its quarterly earnings results on Thursday, May 3rd. The technology company reported ($0.58) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.60) by $0.02. The company had revenue of $13.82 million for the quarter, compared to analyst estimates of $13.52 million. Telenav had a negative net margin of 58.01% and a negative return on equity of 83.65%.
TNAV has been the topic of several recent analyst reports. B. Riley reiterated a “buy” rating and issued a $9.50 price target on shares of Telenav in a research note on Monday, January 29th. Zacks Investment Research upgraded shares of Telenav from a “sell” rating to a “hold” rating in a research note on Thursday, April 5th. Finally, ValuEngine lowered shares of Telenav from a “sell” rating to a “strong sell” rating in a research note on Friday, March 23rd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. Telenav presently has an average rating of “Hold” and a consensus price target of $10.88.
Telenav stock remained flat at $$5.20 during mid-day trading on Friday. 68,200 shares of the company’s stock traded hands, compared to its average volume of 67,503. The stock has a market capitalization of $230.43 million, a price-to-earnings ratio of -4.77 and a beta of 0.98. Telenav has a one year low of $5.25 and a one year high of $5.30.
In other Telenav news, CEO H.P. Jin bought 20,000 shares of the stock in a transaction dated Tuesday, February 20th. The shares were acquired at an average cost of $5.66 per share, for a total transaction of $113,200.00. Following the completion of the transaction, the chief executive officer now owns 1,399,854 shares in the company, valued at approximately $7,923,173.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 24.67% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Ariel Investments LLC grew its position in shares of Telenav by 21.2% during the fourth quarter. Ariel Investments LLC now owns 3,609,773 shares of the technology company’s stock worth $19,854,000 after acquiring an additional 632,037 shares during the last quarter. BlackRock Inc. grew its position in shares of Telenav by 0.7% during the fourth quarter. BlackRock Inc. now owns 1,626,681 shares of the technology company’s stock worth $8,947,000 after acquiring an additional 10,831 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Telenav during the fourth quarter worth approximately $139,000. King Luther Capital Management Corp purchased a new position in shares of Telenav during the fourth quarter worth approximately $242,000. Finally, Divisar Capital Management LLC grew its position in shares of Telenav by 5.0% during the fourth quarter. Divisar Capital Management LLC now owns 3,728,204 shares of the technology company’s stock worth $20,505,000 after acquiring an additional 178,013 shares during the last quarter. Institutional investors and hedge funds own 52.85% of the company’s stock.
Telenav, Inc, together with its subsidiaries provides connected car and location-based platform services in the United States and internationally. The company operates through three segments: Automotive, Advertising, and Mobile Navigation. It offers automotive navigation services, including on-board solutions, which consist of software, map, and points of interest data loaded in vehicles that provide voice-guided turn by turn navigation displayed on the vehicle screen; and mobile phone-based wireless connectivity and brought-in navigation services.
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