DigitalGlobe Inc. (NYSE:DGI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “DigitalGlobe, Inc. is a global provider of commercial high-resolution earth imagery products and services. The company’s products include DigitalGlobe System, QuickBird satellite, ImageAtlas; and GlobeXplorer. DigitalGlobe System offers collection and archival of geospatial information data and QuickBird satellite, which provides commercial resolution imaging systems. DigitalGlobe operates a constellation of high resolution earth imaging satellites, possesses a growing aerial imagery network and offers a comprehensive geoinformation product store – DigitalGlobe.com – that allows quick access and order a wide variety of imagery and derivative information products. DigitalGlobe conducts its business through two segments: defense and intelligence, and commercial. Headquartered in Longmont, Colorado, the company operates as a subsidiary of Morgan Stanley & Co. Inc. “
A number of other research analysts have also weighed in on DGI. Dougherty & Co lifted their target price on DigitalGlobe from $33.00 to $35.00 and gave the company a “buy” rating in a report on Friday, July 29th. JPMorgan Chase & Co. lifted their target price on DigitalGlobe from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, July 29th. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $32.00 target price on shares of DigitalGlobe in a report on Wednesday, August 31st. Jefferies Group reiterated a “buy” rating and set a $30.00 price target on shares of DigitalGlobe in a research report on Tuesday, September 13th. Finally, Benchmark Co. reiterated a “hold” rating and set a $20.00 price target on shares of DigitalGlobe in a research report on Wednesday, September 21st. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $27.88.
Shares of DigitalGlobe (NYSE:DGI) opened at 27.26 on Wednesday. The firm’s 50-day moving average is $26.81 and its 200-day moving average is $22.30. DigitalGlobe has a 52-week low of $11.80 and a 52-week high of $28.33. The firm has a market cap of $1.71 billion, a P/E ratio of 52.02 and a beta of 0.38.
DigitalGlobe (NYSE:DGI) last posted its earnings results on Thursday, July 28th. The company reported $0.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.11. The business earned $175.50 million during the quarter, compared to analyst estimates of $168.71 million. DigitalGlobe had a return on equity of 3.18% and a net margin of 5.54%. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.09 EPS. Analysts anticipate that DigitalGlobe will post $0.45 earnings per share for the current year.
A number of hedge funds have recently added to or reduced their stakes in DGI. Dimensional Fund Advisors LP increased its stake in DigitalGlobe by 18.5% in the second quarter. Dimensional Fund Advisors LP now owns 4,765,346 shares of the company’s stock worth $101,930,000 after buying an additional 745,409 shares during the last quarter. Vanguard Group Inc. increased its stake in DigitalGlobe by 1.3% in the second quarter. Vanguard Group Inc. now owns 4,532,130 shares of the company’s stock worth $96,942,000 after buying an additional 56,091 shares during the last quarter. JPMorgan Chase & Co. increased its stake in DigitalGlobe by 68.8% in the second quarter. JPMorgan Chase & Co. now owns 2,442,672 shares of the company’s stock worth $52,248,000 after buying an additional 995,797 shares during the last quarter. BlackRock Fund Advisors increased its stake in DigitalGlobe by 1.8% in the second quarter. BlackRock Fund Advisors now owns 1,964,999 shares of the company’s stock worth $42,031,000 after buying an additional 34,404 shares during the last quarter. Finally, Brown Advisory Inc. increased its stake in shares of DigitalGlobe by 3.9% in the second quarter. Brown Advisory Inc. now owns 1,706,432 shares of the company’s stock valued at $36,501,000 after buying an additional 63,324 shares during the last quarter.
DigitalGlobe Company Profile
DigitalGlobe, Inc is a provider of high-resolution Earth-imagery products and services. The Company’s imagery solutions support a range of users in defense and intelligence, civil agencies, mapping and analysis, environmental monitoring, oil and gas exploration, infrastructure management, Internet portals and navigation technology.
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