Daktronics (NASDAQ:DAKT) Issues Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Daktronics (NASDAQ:DAKT) posted its earnings results on Wednesday. The technology company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.08), Zacks reports. Daktronics had a net margin of 3.62% and a return on equity of 19.61%.

Daktronics Stock Down 14.4 %

Shares of NASDAQ DAKT traded down $2.07 during mid-day trading on Wednesday, reaching $12.27. 552,277 shares of the company traded hands, compared to its average volume of 459,325. The company’s fifty day moving average is $16.38 and its two-hundred day moving average is $15.11. Daktronics has a fifty-two week low of $8.62 and a fifty-two week high of $19.89. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.67 and a current ratio of 2.35. The stock has a market cap of $577.57 million, a PE ratio of 48.92, a price-to-earnings-growth ratio of 0.57 and a beta of 1.16.

Wall Street Analyst Weigh In

Separately, Craig Hallum started coverage on shares of Daktronics in a report on Wednesday, January 22nd. They set a “buy” rating and a $26.00 price target on the stock.

Insider Buying and Selling

In related news, CEO Reece A. Kurtenbach sold 8,048 shares of Daktronics stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $18.75, for a total value of $150,900.00. Following the transaction, the chief executive officer now owns 469,727 shares in the company, valued at $8,807,381.25. This trade represents a 1.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Patrick Friel sold 2,244 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $18.17, for a total transaction of $40,773.48. Following the transaction, the director now directly owns 87,573 shares of the company’s stock, valued at approximately $1,591,201.41. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.50% of the company’s stock.

Daktronics Company Profile

Daktronics, Inc designs, manufactures, and sells electronic scoreboards, programmable display systems and large screen video displays for sporting, commercial, and transportation applications in the United States and internationally. It operates through Commercial, Live Events, High School Park and Recreation, Transportation, and International segments.