Globant SA (NYSE:GLOB) Expected to Post Earnings of $0.61 Per Share

Wall Street analysts expect Globant SA (NYSE:GLOB) to announce earnings of $0.61 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Globant’s earnings, with the highest EPS estimate coming in at $0.62 and the lowest estimate coming in at $0.60. Globant reported earnings per share of $0.50 during the same quarter last year, which suggests a positive year over year growth rate of 22%. The company is scheduled to report its next earnings report on Thursday, February 13th.

On average, analysts expect that Globant will report full year earnings of $2.26 per share for the current financial year, with EPS estimates ranging from $2.24 to $2.27. For the next fiscal year, analysts anticipate that the firm will report earnings of $2.75 per share, with EPS estimates ranging from $2.70 to $2.78. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that follow Globant.

Globant (NYSE:GLOB) last released its quarterly earnings results on Thursday, November 14th. The information technology services provider reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.13. Globant had a return on equity of 16.76% and a net margin of 8.46%. The business had revenue of $171.33 million during the quarter, compared to analyst estimates of $171.32 million. During the same quarter last year, the company posted $0.46 EPS. Globant’s revenue for the quarter was up 27.3% on a year-over-year basis.

GLOB has been the subject of a number of research reports. ValuEngine lowered Globant from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research lowered Globant from a “buy” rating to a “hold” rating in a research report on Wednesday, January 15th. Citigroup raised their price objective on Globant from $113.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 15th. Finally, KeyCorp raised their price objective on Globant from $114.00 to $121.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $99.10.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Globant by 393.3% during the 2nd quarter. BlackRock Inc. now owns 1,721,511 shares of the information technology services provider’s stock valued at $173,959,000 after buying an additional 1,372,522 shares during the last quarter. Riverbridge Partners LLC lifted its holdings in shares of Globant by 0.4% during the 4th quarter. Riverbridge Partners LLC now owns 1,415,083 shares of the information technology services provider’s stock valued at $150,070,000 after buying an additional 5,503 shares during the last quarter. State Street Corp lifted its holdings in shares of Globant by 1.1% during the 3rd quarter. State Street Corp now owns 1,034,088 shares of the information technology services provider’s stock valued at $94,702,000 after buying an additional 10,829 shares during the last quarter. Invesco Ltd. raised its stake in shares of Globant by 671.3% in the 2nd quarter. Invesco Ltd. now owns 843,989 shares of the information technology services provider’s stock valued at $85,285,000 after acquiring an additional 734,563 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Globant by 87.1% in the 2nd quarter. Northern Trust Corp now owns 265,741 shares of the information technology services provider’s stock valued at $26,853,000 after acquiring an additional 123,679 shares in the last quarter. Institutional investors and hedge funds own 80.44% of the company’s stock.

NYSE GLOB traded down $0.93 during trading on Monday, reaching $123.25. 883,046 shares of the company’s stock were exchanged, compared to its average volume of 272,503. Globant has a fifty-two week low of $65.73 and a fifty-two week high of $126.79. The firm has a market capitalization of $4.51 billion, a PE ratio of 88.67 and a beta of 0.95. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.15. The company’s fifty day simple moving average is $110.54 and its 200-day simple moving average is $101.63.

Globant Company Profile

Globant SA, a technology services company, provides services related to application development, testing, infrastructure management, and application maintenance worldwide. The company offers machine learning, pattern recognition, natural language understanding, future of organizations, customer insight, behavioral change, product innovation, design thinking, product management discovery and delivery, and product coaching services.

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