Wall Street brokerages expect Despegar Com Inc (NYSE:DESP) to post $142.90 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Despegar Com’s earnings, with the highest sales estimate coming in at $147.20 million and the lowest estimate coming in at $138.60 million. The firm is expected to issue its next quarterly earnings report on Thursday, June 14th.
On average, analysts expect that Despegar Com will report full-year sales of $142.90 million for the current fiscal year, with estimates ranging from $621.26 million to $636.20 million. For the next fiscal year, analysts anticipate that the firm will post sales of $756.66 million per share, with estimates ranging from $745.00 million to $762.77 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Despegar Com.
Despegar Com (NYSE:DESP) last posted its quarterly earnings results on Thursday, March 8th. The company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.06. The company had revenue of $144.00 million for the quarter, compared to the consensus estimate of $136.10 million. The firm’s revenue was up 29.5% compared to the same quarter last year.
DESP has been the subject of a number of recent research reports. Citigroup boosted their price objective on shares of Despegar Com from $36.00 to $37.00 and gave the stock a “neutral” rating in a research note on Friday, March 9th. Zacks Investment Research downgraded shares of Despegar Com from a “buy” rating to a “hold” rating in a research note on Friday, January 12th. UBS raised shares of Despegar Com from a “neutral” rating to a “buy” rating and set a $36.00 price objective for the company in a research note on Thursday, January 11th. R. F. Lafferty initiated coverage on shares of Despegar Com in a research note on Monday, March 12th. They issued a “buy” rating and a $38.00 price objective for the company. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $33.00 price objective (up previously from $32.00) on shares of Despegar Com in a research note on Friday, March 9th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Despegar Com presently has a consensus rating of “Buy” and a consensus price target of $36.63.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DESP. BlackRock Inc. purchased a new position in Despegar Com in the fourth quarter worth $142,000. Grandeur Peak Global Advisors LLC purchased a new position in Despegar Com in the third quarter worth $160,000. Cubist Systematic Strategies LLC purchased a new position in Despegar Com in the third quarter worth $192,000. Nationwide Fund Advisors purchased a new position in Despegar Com in the third quarter worth $253,000. Finally, Malaga Cove Capital LLC purchased a new position in Despegar Com in the fourth quarter worth $274,000. 74.24% of the stock is currently owned by institutional investors and hedge funds.
Shares of Despegar Com stock traded down $0.93 during trading hours on Friday, reaching $31.00. 174,910 shares of the company were exchanged, compared to its average volume of 199,544. Despegar Com has a 52 week low of $22.73 and a 52 week high of $36.56.
TRADEMARK VIOLATION NOTICE: “$142.90 Million in Sales Expected for Despegar Com Inc (DESP) This Quarter” was posted by Macon Daily and is owned by of Macon Daily. If you are viewing this story on another site, it was copied illegally and republished in violation of US and international trademark & copyright law. The correct version of this story can be read at https://macondaily.com/2018/04/12/142-90-million-in-sales-expected-for-despegar-com-inc-desp-this-quarter-updated-updated.html.
About Despegar Com
Despegar.com Corp is an Argentina-based travel agency. The Company’s activities are divided into two business segments: Air, as well as Packages, Hotels and Other Travel Products. The Air division focuses on the sale of airline tickets. The Packages, Hotels and Other Travel Products division includes sales of travel packages with or without airline tickets and hotel rooms, as well as stand-alone sales of hotel rooms, including vacation rentals, car rentals, bus tickets, cruise tickets, travel insurance and destination services.
Get a free copy of the Zacks research report on Despegar Com (DESP)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Despegar Com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Despegar Com and related companies with MarketBeat.com's FREE daily email newsletter.