Distribution Solutions Group, Inc. to Post FY2024 Earnings of $2.39 Per Share, KeyCorp Forecasts (NASDAQ:DSGR)

Posted by on Apr 12th, 2023

Distribution Solutions Group, Inc. (NASDAQ:DSGR – Get Rating) – Stock analysts at KeyCorp cut their FY2024 EPS estimates for Distribution Solutions Group in a report released on Sunday, April 9th. KeyCorp analyst K. Newman now forecasts that the company will post earnings per share of $2.39 for the year, down from their previous estimate of $2.40. The consensus estimate for Distribution Solutions Group’s current full-year earnings is $2.03 per share.

DSGR has been the subject of a number of other reports. Barrington Research increased their price objective on shares of Distribution Solutions Group from $57.00 to $61.00 and gave the stock an “outperform” rating in a research note on Thursday, March 30th. TheStreet lowered Distribution Solutions Group from a “c” rating to a “d+” rating in a research note on Friday, March 10th.

Distribution Solutions Group Trading Up 0.6 %

Shares of NASDAQ:DSGR opened at $42.27 on Tuesday. The stock has a 50 day moving average of $43.36 and a 200 day moving average of $37.67. The company has a market cap of $820.88 million, a PE ratio of 28.76 and a beta of 0.90. Distribution Solutions Group has a 12-month low of $25.66 and a 12-month high of $55.96. The company has a current ratio of 2.82, a quick ratio of 1.26 and a debt-to-equity ratio of 0.70.

Distribution Solutions Group (NASDAQ:DSGR – Get Rating) last released its quarterly earnings results on Thursday, March 9th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.20). Distribution Solutions Group had a net margin of 1.70% and a return on equity of 8.64%. The company had revenue of $328.85 million for the quarter, compared to the consensus estimate of $322.80 million.

Institutional Investors Weigh In On Distribution Solutions Group

Several large investors have recently made changes to their positions in DSGR. Amalgamated Bank bought a new position in Distribution Solutions Group during the fourth quarter valued at approximately $28,000. Barclays PLC bought a new position in shares of Distribution Solutions Group during the 4th quarter valued at approximately $49,000. California State Teachers Retirement System purchased a new position in shares of Distribution Solutions Group in the third quarter valued at $55,000. MetLife Investment Management LLC bought a new stake in Distribution Solutions Group in the fourth quarter worth $97,000. Finally, Bank of America Corp DE raised its stake in Distribution Solutions Group by 54.4% during the fourth quarter. Bank of America Corp DE now owns 3,512 shares of the company’s stock valued at $129,000 after purchasing an additional 1,238 shares in the last quarter. 92.25% of the stock is owned by institutional investors.

About Distribution Solutions Group

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Distribution Solutions Group, Inc engages in the distribution of maintenance and repair products to industrial, commercial, institutional and government markets. It operates through the following segments: Lawson and Bolt. The Lawson operating segment delivers quality products to customers and offers them product knowledge, product application expertise and Vendor Managed Inventory (VMI) services.

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