DigitalBridge Group (DBRG) Set to Announce Earnings on Wednesday

Posted by Defense World Staff on Apr 26th, 2023

DigitalBridge Group (NYSE:DBRG – Get Rating) is set to announce its earnings results before the market opens on Wednesday, May 3rd. Analysts expect the company to announce earnings of $0.08 per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

DigitalBridge Group (NYSE:DBRG – Get Rating) last issued its quarterly earnings results on Friday, February 24th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.22). DigitalBridge Group had a negative return on equity of 3.27% and a negative net margin of 28.11%. The business had revenue of $301.90 million for the quarter, compared to analyst estimates of $294.67 million. During the same quarter last year, the firm earned ($0.04) earnings per share. The firm’s quarterly revenue was up 18.0% compared to the same quarter last year. On average, analysts expect DigitalBridge Group to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

DigitalBridge Group Stock Down 1.8 %

Shares of DBRG stock opened at $11.71 on Wednesday. DigitalBridge Group has a 12 month low of $9.99 and a 12 month high of $29.96. The firm has a market cap of $1.87 billion, a PE ratio of -4.52 and a beta of 2.01. The stock has a 50 day moving average of $12.05 and a 200-day moving average of $12.63. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.41.

DigitalBridge Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 17th. Stockholders of record on Friday, March 31st were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date was Thursday, March 30th. DigitalBridge Group’s dividend payout ratio is presently -1.54%.

Analyst Ratings Changes

DBRG has been the topic of a number of research reports. JPMorgan Chase & Co. lowered their price objective on DigitalBridge Group from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, February 27th. B. Riley lowered their price objective on DigitalBridge Group from $32.00 to $29.00 and set a “buy” rating on the stock in a research report on Friday, March 24th. Raymond James lowered their price objective on DigitalBridge Group from $34.00 to $25.00 and set a “strong-buy” rating on the stock in a research report on Thursday, March 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on DigitalBridge Group in a research report on Wednesday, February 15th. They set a “buy” rating and a $18.00 price objective on the stock. Finally, Cowen lowered their price objective on DigitalBridge Group from $27.00 to $20.00 in a research report on Monday, February 27th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.00.

Institutional Trading of DigitalBridge Group

Large investors have recently bought and sold shares of the stock. Nomura Holdings Inc. bought a new stake in DigitalBridge Group in the second quarter valued at $52,000. Advisors Asset Management Inc. acquired a new position in DigitalBridge Group in the first quarter worth $57,000. Geneos Wealth Management Inc. acquired a new position in DigitalBridge Group in the first quarter worth $70,000. Macquarie Group Ltd. boosted its stake in DigitalBridge Group by 197.6% in the second quarter. Macquarie Group Ltd. now owns 566,599 shares of the company’s stock worth $76,000 after purchasing an additional 376,223 shares in the last quarter. Finally, Prelude Capital Management LLC boosted its stake in DigitalBridge Group by 164.9% in the first quarter. Prelude Capital Management LLC now owns 11,335 shares of the company’s stock worth $82,000 after purchasing an additional 28,798 shares in the last quarter. 88.52% of the stock is currently owned by institutional investors.

DigitalBridge Group Company Profile

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DigitalBridge Group, Inc is a digital infrastructure company that engages in investing in digital ecosystem including cell towers, data centers, fiber, small cells, and edge infrastructure. It operates through the Digital Investment Management (Digital IM) and Corporate and Other segments. The Digital IM segment represents a digital infrastructure investment platform, managing capital on behalf of a diverse base of global investors.