Earnings momentum for
) soared higher last week after this industrial electrical
equipment manufacturer reported a stellar first quarter fiscal 2013
(ended July 28, 2012), which included a 300.0% earnings surprise.
With a year-to-date return of 13.6% and shares nearing their
52-week high, this Zacks #1 Rank (Strong Buy) seems to be a solid
Upbeat Quarterly Results
On August 21, Daktronics Inc. reported fiscal first quarter 2012
earnings of 16 cents per share, trouncing the Zacks Consensus
Estimate of 4 cents and doubling last year's 8 cents.
Revenue jumped 12% to $133 million, as orders in the quarter
increased 24% to $173.5 million. Backlog increased 33% sequentially
to $164 million. Gross margin improved 250 basis points to 27.4% on
the back of high margin gains in the Live Events and Transportation
Positive Earnings Momentum
Over the last 7 days, three of four estimates increased for fiscal
2013 (ending April 2013), leading to a 45.2% rise in the Zacks
Consensus Estimate to 45 cents per share. For fiscal year 2014, one
of two estimates moved higher over the same time frame, raising the
Zacks Consensus Estimate by 20.5% to 53 cents.
The Zacks Consensus Estimates represent year-over-year earnings
growth of 125.0% for fiscal 2013 and 16.7% for fiscal 2014.
Daktronics Inc. is currently trading at a price-to-sales (P/S)
ratio of 0.8, compared with the peer group average of 1.3. On a
forward P/E basis, shares trade at 21.1x, versus the peer group
average of 15.3x. The company offers a ROE of 6.0% while the peer
group average is at 10.3%.
Daktronics Inc. is based in Brookings, South Dakota and was
incorporated in 1968. It operates in the Industrial Electrical
Equipment sector; focusing primarily on electronic display systems
and related products, as well as related maintenance and
professional services. As of April 28, 2012, the company had 28
corporate offices around the world. It currently has a market
capitalization of approximately $400 million.
DAKTRONICS INC (DAKT): Free Stock Analysis
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