Fintel reports that on May 24, 2023, Barclays reiterated coverage of Bytes Technology Group (BYIT) with a Overweight recommendation.
Analyst Price Forecast Suggests 23.04% Upside
As of May 11, 2023, the average one-year price target for Bytes Technology Group is 546.28. The forecasts range from a low of 484.80 to a high of $672.00. The average price target represents an increase of 23.04% from its latest reported closing price of 444.00.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Bytes Technology Group is 204MM, an increase of 10.88%. The projected annual non-GAAP EPS is 0.18.
Bytes Technology Group Maintains 1.49% Dividend Yield
At the most recent price, the company's dividend yield is 1.49%.
Additionally, the company's dividend payout ratio is 0.39. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.For a list of the companies with the highest dividend yield, see Fintel's Dividend Screener.
What is the Fund Sentiment?
There are 60 funds or institutions reporting positions in Bytes Technology Group. This is a decrease of 1 owner(s) or 1.64% in the last quarter. Average portfolio weight of all funds dedicated to BYIT is 0.12%, a decrease of 2.81%. Total shares owned by institutions decreased in the last three months by 8.82% to 31,723K shares.
What are Other Shareholders Doing?
SMCWX - SMALLCAP WORLD FUND INC holds 16,323K shares representing 6.82% ownership of the company. In it's prior filing, the firm reported owning 15,123K shares, representing an increase of 7.35%. The firm increased its portfolio allocation in BYIT by 1.10% over the last quarter.
VGTSX - Vanguard Total International Stock Index Fund Investor Shares holds 2,688K shares representing 1.12% ownership of the company. In it's prior filing, the firm reported owning 2,700K shares, representing a decrease of 0.44%. The firm decreased its portfolio allocation in BYIT by 1.53% over the last quarter.
WAIOX - Wasatch International Opportunities Fund Investor Class shares holds 1,535K shares representing 0.64% ownership of the company. No change in the last quarter.
VTMGX - Vanguard Developed Markets Index Fund Admiral Shares holds 1,517K shares representing 0.63% ownership of the company. In it's prior filing, the firm reported owning 1,495K shares, representing an increase of 1.39%. The firm decreased its portfolio allocation in BYIT by 14.33% over the last quarter.
IEFA - iShares Core MSCI EAFE ETF holds 992K shares representing 0.41% ownership of the company. No change in the last quarter.
This story originally appeared on Fintel.
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