Digi International (NASDAQ:DGII) Releases Q1 2022 Earnings Guidance

Digi International (NASDAQ:DGII) issued an update on its first quarter 2022 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.300-$0.340 for the period, compared to the Thomson Reuters consensus estimate of $0.130. The company issued revenue guidance of $81 million-$85 million, compared to the consensus revenue estimate of $78.65 million.Digi International also updated its FY 2022 guidance to EPS.

Shares of DGII traded up $0.12 during trading hours on Thursday, hitting $23.58. 79,483 shares of the company were exchanged, compared to its average volume of 182,281. The company has a market capitalization of $804.34 million, a P/E ratio of 78.60, a PEG ratio of 2.59 and a beta of 1.56. The company’s 50 day simple moving average is $22.11. Digi International has a 52 week low of $16.33 and a 52 week high of $25.63. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.44 and a current ratio of 4.18.

Digi International (NASDAQ:DGII) last released its quarterly earnings results on Wednesday, November 10th. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.05. Digi International had a return on equity of 2.34% and a net margin of 3.36%. During the same quarter in the prior year, the firm posted $0.15 earnings per share. On average, equities analysts expect that Digi International will post 0.51 earnings per share for the current year.

DGII has been the subject of several recent analyst reports. Zacks Investment Research downgraded Digi International from a hold rating to a sell rating in a research note on Wednesday, November 17th. Roth Capital increased their target price on Digi International from $28.00 to $33.00 and gave the company a buy rating in a research note on Thursday, November 11th. Finally, Canaccord Genuity increased their target price on Digi International from $25.00 to $28.00 and gave the company a buy rating in a research note on Thursday, November 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Buy and a consensus price target of $26.93.

In related news, VP Tracy L. Roberts sold 40,000 shares of the stock in a transaction that occurred on Thursday, November 18th. The stock was sold at an average price of $23.94, for a total transaction of $957,600.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 6.50% of the company’s stock.

A hedge fund recently raised its stake in Digi International stock. Bank of New York Mellon Corp raised its position in Digi International Inc. (NASDAQ:DGII) by 13.1% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 370,320 shares of the technology company’s stock after buying an additional 43,002 shares during the period. Bank of New York Mellon Corp owned about 1.09% of Digi International worth $7,784,000 as of its most recent filing with the SEC. 86.31% of the stock is currently owned by institutional investors and hedge funds.

About Digi International

Digi International, Inc provides business and mission-critical Internet of Things (IoT) connectivity products, services and solutions. It operates through the following segments: IoT Products & Services and IoT Solutions. The IoT Products & Services segment offers products and services that help original equipment manufacturers, enterprise and government customers create and deploy, secure IoT connectivity solutions.

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