Analysts Anticipate Quantum Co. (NASDAQ:QMCO) to Post -$0.06 EPS

Wall Street brokerages forecast that Quantum Co. (NASDAQ:QMCOGet Rating) will post earnings per share of ($0.06) for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Quantum’s earnings, with the highest EPS estimate coming in at ($0.05) and the lowest estimate coming in at ($0.07). Quantum reported earnings per share of $0.03 in the same quarter last year, which would indicate a negative year over year growth rate of 300%. The company is expected to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Quantum will report full-year earnings of ($0.13) per share for the current year, with EPS estimates ranging from ($0.13) to ($0.12). For the next year, analysts expect that the business will post earnings of ($0.04) per share, with EPS estimates ranging from ($0.10) to $0.03. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Quantum.

Quantum (NASDAQ:QMCOGet Rating) last announced its quarterly earnings data on Wednesday, February 9th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.10). The company had revenue of $95.34 million for the quarter, compared to analyst estimates of $104.02 million. During the same quarter last year, the firm earned ($0.07) earnings per share.

QMCO has been the subject of a number of recent analyst reports. Lake Street Capital dropped their price target on shares of Quantum from $9.00 to $6.00 in a research note on Thursday, February 10th. Zacks Investment Research raised shares of Quantum from a “sell” rating to a “hold” rating in a research report on Thursday, April 28th. Northland Securities cut their price target on Quantum from $10.00 to $7.00 and set an “outperform” rating on the stock in a report on Monday, March 21st. B. Riley downgraded Quantum from a “buy” rating to a “neutral” rating and set a $4.00 price objective for the company. in a research note on Thursday, February 10th. Finally, Oppenheimer cut Quantum from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 10th.

Shares of NASDAQ:QMCO opened at $1.91 on Wednesday. The stock has a 50-day simple moving average of $2.33 and a 200-day simple moving average of $4.23. Quantum has a 1 year low of $1.84 and a 1 year high of $9.38. The stock has a market capitalization of $114.82 million, a P/E ratio of -2.48 and a beta of 2.26.

Institutional investors and hedge funds have recently bought and sold shares of the company. Citigroup Inc. boosted its stake in Quantum by 115.5% during the third quarter. Citigroup Inc. now owns 6,539 shares of the company’s stock valued at $34,000 after buying an additional 3,504 shares in the last quarter. Nisa Investment Advisors LLC bought a new position in shares of Quantum during the 4th quarter valued at about $37,000. Diversified Trust Co acquired a new position in shares of Quantum in the 4th quarter worth approximately $63,000. ProShare Advisors LLC bought a new stake in shares of Quantum in the 4th quarter worth approximately $70,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Quantum during the fourth quarter valued at approximately $73,000. 80.07% of the stock is currently owned by institutional investors.

Quantum Company Profile (Get Rating)

Quantum Corporation provides products for storing and managing digital video and unstructured data in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers StorNext software systems that enable high-speed ingest, editing, processing, and management of digital video and image datasets; and Scalar tape systems that provide long-term data storage facility to archive and preserve digital content for decades.

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