Brokerages Expect Presidio Inc (NASDAQ:PSDO) Will Announce Quarterly Sales of $749.09 Million

Wall Street analysts expect that Presidio Inc (NASDAQ:PSDO) will post sales of $749.09 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Presidio’s earnings, with the highest sales estimate coming in at $751.08 million and the lowest estimate coming in at $747.10 million. Presidio posted sales of $766.30 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 2.2%. The firm is expected to report its next earnings report on Thursday, September 5th.

On average, analysts expect that Presidio will report full year sales of $2.97 billion for the current year. For the next fiscal year, analysts forecast that the company will report sales of $3.08 billion, with estimates ranging from $3.07 billion to $3.09 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Presidio.

Presidio (NASDAQ:PSDO) last announced its earnings results on Wednesday, May 8th. The company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.01. The firm had revenue of $705.20 million during the quarter, compared to analyst estimates of $679.20 million. Presidio had a net margin of 1.33% and a return on equity of 6.09%. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.28 EPS.

A number of equities analysts recently weighed in on the stock. BidaskClub lowered shares of Presidio from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 15th. Zacks Investment Research lowered shares of Presidio from a “hold” rating to a “sell” rating in a research note on Tuesday, May 14th. TheStreet raised shares of Presidio from a “d” rating to a “b-” rating in a research note on Wednesday, May 8th. Finally, ValuEngine lowered shares of Presidio from a “buy” rating to a “hold” rating in a research note on Thursday, March 7th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $15.67.

In other Presidio news, Director Steven J. Lerner purchased 5,000 shares of the business’s stock in a transaction on Friday, June 7th. The shares were purchased at an average cost of $12.82 per share, with a total value of $64,100.00. Following the transaction, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $320,500. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Apollo Management Holdings Gp, sold 4,925,000 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $15.25, for a total transaction of $75,106,250.00. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of PSDO. Bank of New York Mellon Corp boosted its stake in Presidio by 3.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 162,936 shares of the company’s stock valued at $2,485,000 after purchasing an additional 5,781 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Presidio during the third quarter valued at about $285,000. Vanguard Group Inc. increased its holdings in shares of Presidio by 14.3% during the third quarter. Vanguard Group Inc. now owns 3,292,336 shares of the company’s stock valued at $50,208,000 after acquiring an additional 412,067 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Presidio by 56.0% during the fourth quarter. Rhumbline Advisers now owns 48,922 shares of the company’s stock valued at $638,000 after acquiring an additional 17,559 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new position in shares of Presidio during the fourth quarter valued at about $1,270,000. 97.30% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ PSDO traded up $0.31 on Tuesday, reaching $13.18. The company had a trading volume of 316,496 shares, compared to its average volume of 426,354. The firm has a market cap of $1.06 billion, a PE ratio of 9.48, a PEG ratio of 5.04 and a beta of 1.38. The company has a current ratio of 1.05, a quick ratio of 1.02 and a debt-to-equity ratio of 1.21. Presidio has a 1-year low of $12.04 and a 1-year high of $17.81.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Wednesday, June 26th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Tuesday, June 25th. Presidio’s payout ratio is presently 11.51%.

About Presidio

Presidio, Inc provides information technology (IT) solutions to the middle market in North America. The company offers digital infrastructure solutions that enable clients to deploy IT infrastructure, as well as focuses on networking, collaboration, enterprise mobility, Internet of Things, and data analytics.

Further Reading: Return On Assets

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