Analysts expect that SMART Global Holdings, Inc. (NASDAQ:SGH) will post sales of $460.00 million for the current quarter, Zacks reports. Two analysts have made estimates for SMART Global’s earnings. SMART Global posted sales of $291.70 million during the same quarter last year, which suggests a positive year over year growth rate of 57.7%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Tuesday, January 4th.
On average, analysts expect that SMART Global will report full-year sales of $1.82 billion for the current financial year, with estimates ranging from $1.81 billion to $1.83 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $1.92 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover SMART Global.
SMART Global (NASDAQ:SGH) last announced its quarterly earnings results on Tuesday, October 12th. The company reported $2.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.60 by $0.56. The company had revenue of $467.71 million for the quarter, compared to analysts’ expectations of $461.00 million. SMART Global had a net margin of 1.42% and a return on equity of 35.17%. SMART Global’s revenue was up 57.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.69 EPS.
A number of equities analysts have weighed in on SGH shares. Needham & Company LLC boosted their target price on SMART Global from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, October 13th. Deutsche Bank Aktiengesellschaft boosted their target price on SMART Global from $66.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, October 13th. Zacks Investment Research raised SMART Global from a “hold” rating to a “strong-buy” rating and set a $59.00 target price for the company in a research report…
