DigitalBridge Group (NYSE:DBRG) Announces Earnings Results, Beats Expectations By $0.03 EPS

DigitalBridge Group (NYSE:DBRG) issued its quarterly earnings results on Thursday. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03, Zacks reports. The firm had revenue of $101.55 million during the quarter, compared to analysts’ expectations of $93.01 million. DigitalBridge Group had a net margin of 21.42% and a return on equity of 3.58%.

DigitalBridge Group Trading Down 1.2 %

Shares of DigitalBridge Group stock traded down $0.15 during mid-day trading on Friday, hitting $12.09. 836,281 shares of the stock were exchanged, compared to its average volume of 2,308,961. DigitalBridge Group has a twelve month low of $10.03 and a twelve month high of $19.49. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of 16.58, a price-to-earnings-growth ratio of 3.04 and a beta of 1.91. The company has a 50-day simple moving average of $10.99 and a 200 day simple moving average of $12.62.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on DBRG. JMP Securities began coverage on shares of DigitalBridge Group in a research note on Monday, January 27th. They set an “outperform” rating and a $16.00 price target for the company. B. Riley decreased their price target on shares of DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Truist Financial decreased their price target on shares of DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Citizens Jmp upgraded shares of DigitalBridge Group to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Wells Fargo & Company reduced their target price on shares of DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, DigitalBridge Group has an average rating of “Buy” and a consensus price target of $16.67.

DigitalBridge Group Company Profile

DigitalBridge is an infrastructure investment firm specializing in digital infrastructure assets. They provide services to institutional investors. They primarily invest in data centers, cell towers, fiber networks, small cells, and edge infrastructure. DigitalBridge Group, Inc was founded in 1991 and is headquartered in Boca Raton, Florida with additional offices in Los Angles, California, and New York New York.