$267.78 Million in Sales Expected for DigitalBridge Group, Inc. (NYSE:DBRG) This Quarter

Analysts expect DigitalBridge Group, Inc. (NYSE:DBRG – Get Rating) to announce sales of $267.78 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for DigitalBridge Group’s earnings. The highest sales estimate is $285.60 million and the lowest is $254.80 million. DigitalBridge Group reported sales of $2.68 million during the same quarter last year, which indicates a positive year over year growth rate of 9,891.8%. The business is expected to issue its next quarterly earnings report before the market opens on Monday, January 1st.

On average, analysts expect that DigitalBridge Group will report full year sales of $1.17 billion for the current financial year, with estimates ranging from $1.11 billion to $1.26 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.62 billion, with estimates ranging from $1.26 billion to $2.36 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for DigitalBridge Group.

DigitalBridge Group (NYSE:DBRG – Get Rating) last released its quarterly earnings results on Thursday, February 24th. The company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.07). The firm had revenue of $255.90 million for the quarter, compared to analysts’ expectations of $248.21 million. DigitalBridge Group had a negative net margin of 29.23% and a negative return on equity of 3.04%. The business’s quarterly revenue was up 64.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.03 earnings per share.

Several equities research analysts have commented on the company. JPMorgan Chase & Co. upgraded DigitalBridge Group from an “underweight” rating to a “neutral” rating and set a $7.00 price objective on the stock in a research report on Friday, March 18th. Raymond James reduced their price objective on DigitalBridge Group from $10.00 to $9.50 and set a “strong-buy” rating for the company in a research note on Monday, February 28th. Finally, Zacks Investment Research downgraded DigitalBridge Group from a “hold” rating to a “sell” rating in a research note on Friday, January 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $9.25.

NYSE DBRG opened at $7.09 on Friday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 2.02 and a current ratio of 2.02. DigitalBridge Group has a fifty-two week low of $5.53 and a fifty-two week high of $8.69. The stock has a 50-day simple moving average of $7.08 and a two-hundred day simple moving average of $7.36. The firm has a market capitalization of $4.04 billion, a P/E ratio of -8.75 and a beta of 1.86.

Institutional investors and hedge funds have recently made changes to their positions in the company. Ranger Global Real Estate Advisors LLC lifted its stake in DigitalBridge Group by 200.3% during the third quarter. Ranger Global Real Estate Advisors LLC now owns 15,003,318 shares of the company’s stock worth $90,470,000 after purchasing an additional 10,007,899 shares during the last quarter. Norges Bank purchased a new stake in DigitalBridge Group during the fourth quarter worth approximately $40,736,000. Capital International Investors lifted its stake in DigitalBridge Group by 18.8% during the fourth quarter. Capital International Investors now owns 28,570,127 shares of the company’s stock worth $237,989,000 after purchasing an additional 4,521,353 shares during the last quarter. Conversant Capital LLC purchased a new stake in DigitalBridge Group during the fourth quarter worth approximately $33,570,000. Finally, American Century Companies Inc. increased its position in DigitalBridge Group by 233.8% during the fourth quarter. American Century Companies Inc. now owns 4,572,281 shares of the company’s stock worth $38,087,000 after buying an additional 3,202,608 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.

About DigitalBridge Group (Get Rating)

DigitalBridge Group, Inc is a leading global digital infrastructure REIT and private equity firm. With a heritage of over 25 years investing in and operating businesses across the digital ecosystem including towers, data centers, fiber, small cells, and edge infrastructure, the DigitalBridge team manages a $35 billion portfolio of digital infrastructure assets on behalf of its limited partners and shareholders.

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