Equities research analysts forecast that NIC Inc. (NASDAQ:EGOV) will announce sales of $83.15 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for NIC’s earnings. The lowest sales estimate is $77.40 million and the highest is $87.51 million. NIC posted sales of $84.53 million during the same quarter last year, which suggests a negative year over year growth rate of 1.6%. The firm is expected to announce its next quarterly earnings results on Wednesday, November 7th.
On average, analysts expect that NIC will report full-year sales of $338.55 million for the current financial year, with estimates ranging from $336.05 million to $340.58 million. For the next financial year, analysts expect that the business will post sales of $329.79 million per share, with estimates ranging from $322.60 million to $341.90 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow NIC.
NIC (NASDAQ:EGOV) last posted its quarterly earnings results on Wednesday, August 1st. The software maker reported $0.25 EPS for the quarter, beating the consensus estimate of $0.22 by $0.03. NIC had a net margin of 16.52% and a return on equity of 33.16%. The business had revenue of $92.50 million during the quarter, compared to analyst estimates of $90.36 million. During the same quarter in the previous year, the business posted $0.19 EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year.
Several research analysts recently commented on the stock. BidaskClub lowered shares of NIC from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 12th. Barrington Research reiterated a “hold” rating on shares of NIC in a research note on Monday, April 30th. Zacks Investment Research upgraded shares of NIC from a “sell” rating to a “hold” rating in a research note on Wednesday, May 9th. Stephens reiterated a “hold” rating and set a $18.00 price objective on shares of NIC in a research note on Thursday, August 2nd. Finally, Loop Capital boosted their price objective on shares of NIC to $17.00 and gave the stock a “hold” rating in a research note on Thursday, August 2nd. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $17.80.
NASDAQ:EGOV opened at $17.10 on Tuesday. NIC has a one year low of $12.65 and a one year high of $18.90. The stock has a market capitalization of $1.09 billion, a PE ratio of 22.21, a price-to-earnings-growth ratio of 2.08 and a beta of 0.47.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 19th. Shareholders of record on Wednesday, September 5th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.87%. The ex-dividend date is Tuesday, September 4th. NIC’s dividend payout ratio is presently 41.56%.
Large investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP purchased a new stake in shares of NIC in the 1st quarter valued at $127,000. SG Americas Securities LLC purchased a new stake in shares of NIC in the 1st quarter valued at $148,000. Janus Henderson Group PLC purchased a new stake in shares of NIC in the 2nd quarter valued at $158,000. Amalgamated Bank purchased a new stake in shares of NIC in the 2nd quarter valued at $163,000. Finally, Xact Kapitalforvaltning AB purchased a new stake in shares of NIC in the 1st quarter valued at $168,000. 93.58% of the stock is currently owned by institutional investors.
NIC Company Profile
NIC Inc, together with its subsidiaries, provides digital government services that enable governments to use technology to provide various services to businesses and citizens in the United States. The company's outsourced portal business enters into long-term contracts with state and local governments to design, build, and operate Internet-based and enterprise-wide portals on their behalf.
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