i3 Verticals, Inc. (NASDAQ:IIIV) Expected to Announce Quarterly Sales of $65.40 Million

Equities research analysts expect that i3 Verticals, Inc. (NASDAQ:IIIV) will report $65.40 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for i3 Verticals’ earnings, with estimates ranging from $63.96 million to $67.69 million. i3 Verticals posted sales of $38.43 million in the same quarter last year, which would indicate a positive year over year growth rate of 70.2%. The business is scheduled to report its next earnings results on Thursday, November 18th.

On average, analysts expect that i3 Verticals will report full year sales of $220.58 million for the current year, with estimates ranging from $217.10 million to $225.22 million. For the next financial year, analysts expect that the business will post sales of $260.69 million, with estimates ranging from $240.00 million to $276.02 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for i3 Verticals.

i3 Verticals (NASDAQ:IIIV) last released its quarterly earnings results on Monday, August 9th. The company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.07. i3 Verticals had a negative net margin of 3.18% and a positive return on equity of 6.64%. The business had revenue of $60.71 million for the quarter, compared to analysts’ expectations of $56.21 million.

IIIV has been the topic of a number of research analyst reports. Morgan Stanley began coverage on shares of i3 Verticals in a report on Monday, July 26th. They set an “equal weight” rating and a $34.00 price objective on the stock. Zacks Investment Research downgraded shares of i3 Verticals from a “hold” rating to a “sell” rating in a research report on Wednesday, August 11th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, i3 Verticals currently has an average rating of “Buy” and a consensus price target of $37.25.

A number of institutional investors and hedge funds have recently bought and sold shares of IIIV. Los Angeles Capital Management LLC bought a new position in shares of i3 Verticals in the second quarter valued at approximately $267,000. American Century Companies Inc. increased its stake in shares of i3 Verticals by 1.1% in the second quarter. American Century Companies Inc. now owns 1,033,434 shares of the company’s stock worth $31,230,000 after buying an additional 11,246 shares during the period. Nuveen Asset Management LLC increased its stake in shares of i3 Verticals by 1.3% in the first quarter. Nuveen Asset Management LLC now owns 123,453 shares of the company’s stock worth $3,842,000 after buying an additional 1,530 shares during the period. Kornitzer Capital Management Inc. KS increased its stake in shares of i3 Verticals by 7.0% in the second quarter. Kornitzer Capital Management Inc. KS now owns 77,900 shares of the company’s stock worth $2,354,000 after buying an additional 5,100 shares during the period. Finally, Avalon Investment & Advisory boosted its holdings in i3 Verticals by 4.0% in the first quarter. Avalon Investment & Advisory now owns 101,521 shares of the company’s stock valued at $3,160,000 after acquiring an additional 3,914 shares in the last quarter. Institutional investors own 61.86% of the company’s stock.

IIIV traded up $0.56 during mid-day trading on Friday, hitting $26.19. The stock had a trading volume of 2,086 shares, compared to its average volume of 127,679. The stock’s fifty day simple moving average is $29.66 and its 200-day simple moving average is $31.11. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.61 and a quick ratio of 0.61. The firm has a market capitalization of $843.53 million, a price-to-earnings ratio of -75.38, a price-to-earnings-growth ratio of 2.04 and a beta of 1.59. i3 Verticals has a 1-year low of $20.25 and a 1-year high of $35.99.

About i3 Verticals

i3 Verticals, Inc is a holding company, which engages in the provision of integrated payment and software solutions to small-and medium-sized businesses and organizations in strategic vertical markets. It operates through the following segments: Merchant Services, Proprietary Software and Payments, and Others.

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