DigitalBridge Group (NYSE:DBRG) Issues Quarterly Earnings Results, Beats Estimates By $0.03 EPS

DigitalBridge Group (NYSE:DBRG) released its earnings results on Thursday. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.08 by $0.03, Zacks reports. DigitalBridge Group had a return on equity of 3.58% and a net margin of 21.42%.

DigitalBridge Group Stock Performance

Shares of DBRG stock traded up $1.11 during trading hours on Thursday, reaching $11.86. The company had a trading volume of 1,990,223 shares, compared to its average volume of 2,147,720. DigitalBridge Group has a twelve month low of $10.03 and a twelve month high of $19.49. The company has a market capitalization of $2.07 billion, a P/E ratio of 16.39, a price-to-earnings-growth ratio of 2.94 and a beta of 1.91. The stock’s fifty day simple moving average is $10.99 and its 200 day simple moving average is $12.63.

Analyst Upgrades and Downgrades

DBRG has been the subject of several analyst reports. Wells Fargo & Company dropped their target price on DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. B. Riley dropped their target price on DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Raymond James dropped their target price on DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating for the company in a research note on Tuesday, November 5th. Truist Financial dropped their price target on DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Finally, JMP Securities initiated coverage on DigitalBridge Group in a research note on Monday, January 27th. They set an “outperform” rating and a $16.00 price target for the company. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $16.67.

About DigitalBridge Group

DigitalBridge is an infrastructure investment firm specializing in digital infrastructure assets. They provide services to institutional investors. They primarily invest in data centers, cell towers, fiber networks, small cells, and edge infrastructure. DigitalBridge Group, Inc was founded in 1991 and is headquartered in Boca Raton, Florida with additional offices in Los Angles, California, and New York New York.