According to Zacks Investment Research, NIC Inc. (NASDAQ: EGOV) is expected to announce $95.81 billion as the company’s sales in the current fiscal quarter.
NASDAQ: EGOV will reportedly announce its report on the quarterly earnings on the 4th of November after the market closes. Till now, two analysts have submitted estimate-reports on EGOV’s earnings for this fiscal quarter. The lowest estimate stands at $94.59 million and the highest was estimated at $97.03 million. Last year, during this same fiscal quarter, the company posted its sales earnings of $90.39 million. This suggested that NASDAQ: EGOV had a positive year-over-year growth rate that stands at 6%.
Zacks Makes Estimate Analysis Of NASDAQ: EGOV Earnings
Zacks Investment Research suggests that NASDAQ: EGOV’s whole year’s sales earnings will stand at $380.07 million for this ongoing financial year. The estimates approximately range from $379.98 to $380.16 million. For the upcoming financial year, according to Zacks, expert analysts suggest that the firm’s estimated sales will stand at $416.74 million along with the estimates varying from $414.43 to $419.05 million. Zacks has provided this data after doing a survey on analysts that provide expert coverage for NASDAQ: EGOV. The calculations are based on a mean average from the sell-side analysts’ reports.
The quarterly earnings for the previous fiscal quarter was released by the company on the 29th of July. The earnings stood at $0.20 EPS for that quarter. This was reported as opposed to the general consensus on the estimated earnings at $0.17. The company’s return on equity also stood at 20.19% along with the net margin of 13.84%. The expected income for the firm was marked at $91.22 million but it made $93.59 million for that quarter. During the same time previous year, the firm’s EPS was $0.20. This was 2.2% up based on a year-over-year calculation.
NASDAQ: EGOV has recently been the subject of a lot of reports by research analysts. Some such as the Zacks Investment Research, Barrington Research, BidaskClub and so on have posted reports on this firm over the last few months.
Consensus On NIC Inc. “Hold” Rating
Zacks, in a report on June 25, lowered NASDAQ: EGOV’s rating from “hold” to “sell” Barrington Research recently upgraded the company’s ratings to “buy”. BidaskClub increased it to “strong sell” from “sell’ on 7th October.
Thus, the recent consensus regarding NIC Inc. stands at the “hold” rating and the consensus on the target price stands at $27.00. Several institutional investors and hedge funds that own about 88.40% of this company’s shares have also been involved in buying and selling of NASDAQ: EGOV shares recently.