Quantum Co. (NASDAQ:QMCO) Expected to Post Earnings of -$0.06 Per Share

Wall Street analysts expect Quantum Co. (NASDAQ:QMCOGet Rating) to announce ($0.06) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Quantum’s earnings, with the lowest EPS estimate coming in at ($0.07) and the highest estimate coming in at ($0.05). Quantum posted earnings per share of $0.03 during the same quarter last year, which indicates a negative year over year growth rate of 300%. The firm is expected to issue its next earnings results after the market closes on Monday, January 1st.

On average, 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 financial year, analysts anticipate that the company will post earnings of ($0.04) per share, with EPS estimates ranging from ($0.10) to $0.03. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that cover Quantum.

Several research analysts have commented on QMCO shares. Lake Street Capital decreased their price target on shares of Quantum from $9.00 to $6.00 in a research note on Thursday, February 10th. Oppenheimer cut shares of Quantum from an “outperform” rating to a “market perform” rating in a report on Thursday, February 10th. Zacks Investment Research raised Quantum from a “sell” rating to a “hold” rating in a research report on Thursday, April 28th. 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, Northland Securities dropped their price target on Quantum from $10.00 to $7.00 and set an “outperform” rating for the company in a research note on Monday, March 21st.

In related news, insider Brian E. Cabrera sold 20,952 shares of the business’s stock in a transaction on Thursday, May 5th. The stock was sold at an average price of $1.88, for a total value of $39,389.76. Following the sale, the insider now owns 164,048 shares in the company, valued at approximately $308,410.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 4.20% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in QMCO. Virtu Financial LLC acquired a new stake in shares of Quantum in the 1st quarter valued at about $28,000. Renaissance Technologies LLC acquired a new stake in Quantum during the 1st quarter valued at $29,000. Citigroup Inc. grew its holdings in Quantum by 115.5% during the 3rd quarter. Citigroup Inc. now owns 6,539 shares of the company’s stock valued at $34,000 after buying an additional 3,504 shares during the last quarter. Nisa Investment Advisors LLC acquired a new stake in shares of Quantum during the fourth quarter worth $37,000. Finally, Sei Investments Co. boosted its holdings in Quantum by 31.2% in the first quarter. Sei Investments Co. now owns 34,475 shares of the company’s stock valued at $57,000 after acquiring an additional 8,203 shares during the last quarter. 80.07% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:QMCO traded down $0.03 on Tuesday, reaching $1.66. 461,878 shares of the company’s stock were exchanged, compared to its average volume of 593,984. The stock has a fifty day simple moving average of $2.09 and a 200-day simple moving average of $3.81. Quantum has a 52 week low of $1.50 and a 52 week high of $9.14. The firm has a market cap of $99.79 million, a price-to-earnings ratio of -2.16 and a beta of 2.26.

About Quantum (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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Earnings History and Estimates for Quantum (NASDAQ:QMCO)

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