Zacks: Brokerages Anticipate Absolute Software Co. (NASDAQ:ABST) Will Announce Quarterly Sales of $30.73 Million

Analysts expect Absolute Software Co. (NASDAQ:ABST) to announce $30.73 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Absolute Software’s earnings, with the highest sales estimate coming in at $31.50 million and the lowest estimate coming in at $30.10 million. Absolute Software reported sales of $27.16 million in the same quarter last year, which indicates a positive year-over-year growth rate of 13.1%. The company is scheduled to report its next earnings report after the market closes on Tuesday, August 10th.

According to Zacks, analysts expect that Absolute Software will report full year sales of $119.77 million for the current fiscal year, with estimates ranging from $119.20 million to $120.50 million. For the next financial year, analysts anticipate that the firm will report sales of $132.30 million, with estimates ranging from $129.60 million to $133.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Absolute Software.

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

Several research analysts recently weighed in on the company. Raymond James increased their target price on Absolute Software from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 12th. TD Securities raised their price objective on Absolute Software from $17.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, May 13th. National Bank Financial cut their price objective on Absolute Software from C$21.00 to C$20.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 13th. BMO Capital Markets cut their price objective on Absolute Software from $21.00 to $20.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 12th. Finally, Canaccord Genuity raised their price objective on Absolute Software from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, May 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $20.00.

Shares of ABST traded down $0.09 during trading hours on Monday, hitting $13.73. The stock had a trading volume of 1,757 shares, compared to its average volume of 65,043. The company has a market capitalization of $680.18 million, a price-to-earnings ratio of 72.74 and a beta of 0.89. The stock 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 firm also recently announced a quarterly dividend, which will be paid on Friday, August 27th. Stockholders of record on Wednesday, August 11th will be paid a dividend of $0.0626 per share. The ex-dividend date is Tuesday, August 10th. This represents a $0.25 annualized dividend and a dividend yield of 1.82%. Absolute Software’s dividend payout ratio is presently 108.33%.

Several institutional investors have recently made changes to their positions in the company. Lynrock Lake LP acquired a new stake in shares of Absolute Software during the fourth quarter valued at about $68,090,000. ETF Managers Group LLC acquired a new stake in shares of Absolute Software during the fourth quarter valued at about $34,016,000. JPMorgan Chase & Co. acquired a new position in Absolute Software in the fourth quarter worth about $13,963,000. Morgan Stanley acquired a new position in Absolute Software in the fourth quarter worth about $11,708,000. Finally, Alberta Investment Management Corp grew its stake in Absolute Software by 49.1% in the first quarter. Alberta Investment Management Corp now owns 755,501 shares of the company’s stock worth $10,489,000 after purchasing an additional 248,800 shares in the last quarter. Institutional investors own 59.72% of the company’s stock.

Absolute Software Company Profile

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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Earnings History and Estimates for Absolute Software (NASDAQ:ABST)

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