Zacks: Brokerages Anticipate Inseego Corp (NASDAQ:INSG) Will Announce Earnings of -$0.08 Per Share

Analysts forecast that Inseego Corp (NASDAQ:INSG) will post earnings of ($0.08) per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Inseego’s earnings, with estimates ranging from ($0.08) to ($0.07). Inseego posted earnings per share of $0.02 during the same quarter last year, which would indicate a negative year over year growth rate of 500%. The business is scheduled to issue its next earnings report on Thursday, March 5th.

According to Zacks, analysts expect that Inseego will report full-year earnings of ($0.19) per share for the current year, with EPS estimates ranging from ($0.19) to ($0.18). For the next fiscal year, analysts forecast that the firm will report earnings of ($0.01) per share, with EPS estimates ranging from ($0.05) to $0.04. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Inseego.

Inseego (NASDAQ:INSG) last issued its earnings results on Wednesday, November 6th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.08. The firm had revenue of $62.72 million during the quarter, compared to analysts’ expectations of $59.77 million. During the same period in the prior year, the company earned ($0.10) EPS. The firm’s quarterly revenue was up 23.9% compared to the same quarter last year.

INSG has been the subject of a number of research reports. Northland Securities initiated coverage on shares of Inseego in a research note on Tuesday, November 26th. They issued a “buy” rating and a $6.00 price objective for the company. ValuEngine downgraded shares of Inseego from a “buy” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research upgraded shares of Inseego from a “sell” rating to a “hold” rating in a research report on Monday. BidaskClub upgraded shares of Inseego from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Canaccord Genuity raised their price objective on Inseego from $7.00 to $8.50 and gave the company a “buy” rating in a research note on Monday, October 28th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Inseego has a consensus rating of “Buy” and a consensus target price of $6.50.

Large investors have recently added to or reduced their stakes in the company. Wedbush Securities Inc. bought a new position in shares of Inseego in the third quarter worth approximately $48,000. Advisory Services Network LLC boosted its position in Inseego by 71.2% during the 2nd quarter. Advisory Services Network LLC now owns 10,820 shares of the technology company’s stock valued at $52,000 after buying an additional 4,500 shares during the period. MAI Capital Management bought a new stake in Inseego in the 3rd quarter worth $58,000. Traynor Capital Management Inc. grew its holdings in Inseego by 25.0% in the 2nd quarter. Traynor Capital Management Inc. now owns 15,000 shares of the technology company’s stock worth $73,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY bought a new stake in Inseego in the 3rd quarter worth $74,000. 47.24% of the stock is owned by hedge funds and other institutional investors.

Shares of INSG stock traded up $0.42 during trading hours on Tuesday, hitting $6.93. 92,671 shares of the company’s stock were exchanged, compared to its average volume of 1,087,817. The company has a market capitalization of $548.21 million, a PE ratio of -58.04 and a beta of 0.75. Inseego has a 12-month low of $3.50 and a 12-month high of $7.08. The business’s 50 day simple moving average is $5.39 and its 200-day simple moving average is $4.88.

About Inseego

Inseego Corp. engages in the design and development of mobile, Internet of Things (IoT), and cloud solutions for large enterprise verticals, service providers, and small and medium-sized businesses worldwide. The company provides wireless 3G, 4G, and 5G hardware products that address various markets, including fleet and commercial telematics, aftermarket telematics, smart city infrastructure management, remote monitoring and control, wireless surveillance systems, security and connected home and fixed wireless access, and mobile broadband devices.

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