Brokerages predict that Cinedigm Corp (NASDAQ:CIDM) will announce ($0.14) earnings per share for the current quarter, according to Zacks. Two analysts have issued estimates for Cinedigm’s earnings, with estimates ranging from ($0.18) to ($0.09). Cinedigm reported earnings of ($0.20) per share during the same quarter last year, which would indicate a positive year over year growth rate of 30%. The company is expected to issue its next earnings results after the market closes on Wednesday, February 13th.
According to Zacks, analysts expect that Cinedigm will report full year earnings of ($0.43) per share for the current fiscal year, with EPS estimates ranging from ($0.49) to ($0.37). For the next year, analysts expect that the firm will post earnings of ($0.52) per share, with EPS estimates ranging from ($0.65) to ($0.39). Zacks’ EPS calculations are an average based on a survey of analysts that cover Cinedigm.
Cinedigm (NASDAQ:CIDM) last issued its quarterly earnings data on Wednesday, November 14th. The business services provider reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.07. The company had revenue of $13.74 million during the quarter, compared to analysts’ expectations of $11.01 million.
A number of analysts recently commented on the company. ValuEngine raised Cinedigm from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Canaccord Genuity assumed coverage on Cinedigm in a research report on Wednesday, November 21st. They set a “buy” rating for the company. Finally, Dawson James assumed coverage on Cinedigm in a research report on Monday, October 22nd. They set a “buy” rating for the company.
A hedge fund recently raised its stake in Cinedigm stock. Renaissance Technologies LLC raised its position in shares of Cinedigm Corp (NASDAQ:CIDM) by 17.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 859,423 shares of the business services provider’s stock after purchasing an additional 125,283 shares during the period. Renaissance Technologies LLC owned 2.45% of Cinedigm worth $1,332,000 as of its most recent filing with the Securities and Exchange Commission. 7.86% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cinedigm stock traded down $0.13 on Wednesday, hitting $1.12. The company had a trading volume of 3,778 shares, compared to its average volume of 75,925. The company has a market cap of $43.93 million, a PE ratio of -1.49 and a beta of 1.72. Cinedigm has a 1 year low of $0.48 and a 1 year high of $1.81.
Cinedigm Corp., together with its subsidiaries, operates as distributor and aggregator of independent movie, television, and other short form content primarily in the United States. The company operates through four segments: The First Digital Cinema Deployment, The Second Digital Cinema Deployment, Digital Cinema Services, and Media Content and Entertainment Group.
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