Daktronics (NASDAQ:DAKT) Releases Earnings Results, Beats Estimates By $0.13 EPS

Posted by Ethan Ryder on Jun 29th, 2024

Daktronics (NASDAQ:DAKT – Get Free Report) released its quarterly earnings data on Wednesday. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.13, reports. The business had revenue of $215.88 million during the quarter, compared to analyst estimates of $179.28 million. Daktronics had a net margin of 4.23% and a return on equity of 25.55%.

Daktronics Price Performance

Shares of NASDAQ:DAKT opened at $13.95 on Friday. The stock has a market capitalization of $645.89 million, a P/E ratio of 22.87, a P/E/G ratio of 0.53 and a beta of 1.06. The business has a 50-day moving average of $11.01 and a two-hundred day moving average of $9.42. Daktronics has a fifty-two week low of $5.99 and a fifty-two week high of $14.58. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.09 and a quick ratio of 1.38.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. New York State Teachers Retirement System bought a new stake in Daktronics during the first quarter worth approximately $34,000. Tower Research Capital LLC TRC lifted its position in shares of Daktronics by 831.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,376 shares of the technology company’s stock worth $71,000 after purchasing an additional 7,477 shares during the last quarter. Clear Street Markets LLC bought a new stake in Daktronics during the 4th quarter valued at approximately $101,000. Janney Montgomery Scott LLC bought a new stake in Daktronics during the 1st quarter valued at approximately $105,000. Finally, Price T Rowe Associates Inc. MD acquired a new stake in Daktronics in the 1st quarter valued at approximately $109,000. Institutional investors and hedge funds own 61.69% of the company’s stock.

Daktronics Company Profile

(Get Free Report)

Daktronics, Inc designs, manufactures, and markets electronic display systems and related products 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.