Brokerages Expect Ninetowns Internet Technlgy Grp Co Ltd. (NINE) Will Announce Quarterly Sales of $229.51 Million

Equities research analysts expect that Ninetowns Internet Technlgy Grp Co Ltd. (NASDAQ:NINE) will announce $229.51 million in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Ninetowns Internet Technlgy Grp’s earnings, with estimates ranging from $219.56 million to $235.00 million. Ninetowns Internet Technlgy Grp posted sales of $173.81 million during the same quarter last year, which suggests a positive year-over-year growth rate of 32%. The business is scheduled to issue its next quarterly earnings results before the market opens on Wednesday, May 8th.

According to Zacks, analysts expect that Ninetowns Internet Technlgy Grp will report full-year sales of $966.58 million for the current financial year, with estimates ranging from $924.21 million to $1.00 billion. For the next fiscal year, analysts expect that the business will report sales of $1.17 billion, with estimates ranging from $1.12 billion to $1.25 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Ninetowns Internet Technlgy Grp.

Ninetowns Internet Technlgy Grp (NASDAQ:NINE) last announced its quarterly earnings results on Wednesday, March 6th. The company reported $0.49 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.01). The firm had revenue of $229.45 million during the quarter, compared to the consensus estimate of $231.71 million.

A number of research firms have commented on NINE. Zacks Investment Research lowered Ninetowns Internet Technlgy Grp from a “hold” rating to a “strong sell” rating in a research report on Saturday, January 12th. Goldman Sachs Group assumed coverage on shares of Ninetowns Internet Technlgy Grp in a research note on Sunday, March 10th. They issued a “buy” rating and a $33.00 price objective for the company. Tudor Pickering raised shares of Ninetowns Internet Technlgy Grp from a “hold” rating to a “buy” rating and set a $24.79 price objective for the company in a research note on Tuesday, February 5th. Finally, Raymond James raised their price objective on shares of Ninetowns Internet Technlgy Grp from $31.00 to $32.00 and gave the stock a “strong-buy” rating in a research note on Friday, March 8th. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Ninetowns Internet Technlgy Grp currently has an average rating of “Buy” and a consensus target price of $36.75.

Shares of NASDAQ NINE traded down $0.23 during mid-day trading on Wednesday, hitting $20.84. The company had a trading volume of 111,876 shares, compared to its average volume of 122,905. Ninetowns Internet Technlgy Grp has a 1 year low of $20.18 and a 1 year high of $40.39.

In related news, insider David Crombie sold 60,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $22.40, for a total transaction of $1,344,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NINE. Mesirow Financial Investment Management Inc. grew its position in Ninetowns Internet Technlgy Grp by 46.7% in the 1st quarter. Mesirow Financial Investment Management Inc. now owns 25,417 shares of the company’s stock valued at $576,000 after buying an additional 8,096 shares in the last quarter. Dalton Greiner Hartman Maher & Co. lifted its position in shares of Ninetowns Internet Technlgy Grp by 32.6% during the 1st quarter. Dalton Greiner Hartman Maher & Co. now owns 167,631 shares of the company’s stock valued at $3,797,000 after acquiring an additional 41,176 shares during the period. Deutsche Bank AG lifted its position in shares of Ninetowns Internet Technlgy Grp by 38.6% during the 4th quarter. Deutsche Bank AG now owns 58,351 shares of the company’s stock valued at $1,313,000 after acquiring an additional 16,248 shares during the period. FMR LLC lifted its position in shares of Ninetowns Internet Technlgy Grp by 0.3% during the 4th quarter. FMR LLC now owns 326,998 shares of the company’s stock valued at $7,371,000 after acquiring an additional 1,100 shares during the period. Finally, Millennium Management LLC bought a new stake in shares of Ninetowns Internet Technlgy Grp during the 4th quarter valued at $213,000.

About Ninetowns Internet Technlgy Grp

Ninetowns Internet Technology Group Company Limited is a software company that enables enterprises and trade-related People’s Republic of China Government agencies to streamline the import/export process in China. It operates in four segments: enterprise software and related maintenance services , software development services segment, B2C e-commerce and, and real estate development.

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