$0.05 Earnings Per Share Expected for Absolute Software Co. (NASDAQ:ABST) This Quarter

Equities research analysts expect Absolute Software Co. (NASDAQ:ABST) to report earnings of $0.05 per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Absolute Software’s earnings, with estimates ranging from $0.04 to $0.07. Absolute Software also posted earnings of $0.05 per share during the same quarter last year. The firm is expected to report its next earnings report on Monday, August 9th.

On average, analysts expect that Absolute Software will report full year earnings of $0.20 per share for the current year, with EPS estimates ranging from $0.19 to $0.21. For the next year, analysts expect that the company will post earnings of $0.32 per share, with EPS estimates ranging from $0.24 to $0.46. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that that provide coverage for Absolute Software.

Absolute Software (NASDAQ:ABST) last posted its earnings results on Monday, May 10th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.01. The company had revenue of $30.65 million during the quarter, compared to analysts’ expectations of $29.63 million. Absolute Software had a negative return on equity of 19.49% and a net margin of 7.71%.

Several research analysts have recently commented on ABST shares. Desjardins began coverage on Absolute Software in a research report on Tuesday, March 23rd. They set a “buy” rating for the company. Canaccord Genuity lifted their target price on Absolute Software from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, May 12th. TD Securities lifted their target price on Absolute Software from $17.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, May 13th. National Bank Financial dropped their price target on Absolute Software from C$21.00 to C$20.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 13th. Finally, BMO Capital Markets dropped their target price on Absolute Software from $21.00 to $20.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. Absolute Software has an average rating of “Buy” and an average target price of $20.00.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Lazard Asset Management LLC increased its stake in shares of Absolute Software by 458.9% in the first quarter. Lazard Asset Management LLC now owns 2,750 shares of the company’s stock valued at $38,000 after purchasing an additional 2,258 shares during the period. Toronto Dominion Bank acquired a new stake in shares of Absolute Software in the fourth quarter valued at approximately $45,000. Shell Asset Management Co. increased its stake in shares of Absolute Software by 127.0% in the first quarter. Shell Asset Management Co. now owns 3,604 shares of the company’s stock valued at $50,000 after purchasing an additional 2,016 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Absolute Software in the fourth quarter valued at approximately $96,000. Finally, Jane Street Group LLC acquired a new stake in shares of Absolute Software in the first quarter valued at approximately $180,000. 59.74% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ABST traded down $0.06 during midday trading on Friday, hitting $13.89. 8,587 shares of the stock were exchanged, compared to its average volume of 114,873. Absolute Software has a 52-week low of $8.98 and a 52-week high of $21.20. The stock’s fifty day moving average is $14.20. The firm has a market cap of $687.71 million, a price-to-earnings ratio of 73.11 and a beta of 0.89.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 28th. Shareholders of record on Friday, May 14th were issued a $0.0639 dividend. The ex-dividend date of this dividend was Thursday, May 13th. This represents a $0.26 dividend on an annualized basis and a yield of 1.84%. This is a boost from Absolute Software’s previous quarterly dividend of $0.06. Absolute Software’s dividend payout ratio (DPR) is currently 108.33%.

Absolute Software Company Profile

Absolute Software Corporation develops, markets, and provides cloud-based endpoint visibility and control platform for the management and security of computing devices, applications, and data for enterprise and public sector organizations. The company offers the Absolute platform to provide the connectivity, visibility, and control of data and devices of the operating system; to recover automatically to a secure operational state without user intervention; to support various other security controls and productivity tools from decay and vulnerabilities; and to enable measurement of the health, compliance, and state of decay of endpoint security controls and productivity tools, as well as for reporting and analytics, geotechnology, and endpoint investigation and recovery applications.

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Earnings History and Estimates for Absolute Software (NASDAQ:ABST)

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