DG FastChannel Shares Soar 16% On Earnings Beat (DGIT)

Shares of DG FastChannel, Inc.

are trading up 16.6% at $27.43 per share during the Thursday afternoon trading session. The day's trading range for shares of DG FastChannel, Inc has been between $25.50 and $27.75 per share. Analysts covering the company's stock give it a consensus price target of $32.20 per share. Volume of 900,000 shares is still below the daily average volume of 1.5 million shares. DG FastChannel, Inc. (

) announced on Thursday morning that it beat consensus Wall Street expectations. DG FastChannel, Inc announced 3rd quarter adjusted earnings per share of 44 cents, on revenue of $56.94 million. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 30 cents per share, on revenue of $52.39 million. Chairman and CEO Scott Ginsburg said, "The Q3 results were driven by 59% growth in HD revenues, a result of both increasing demand from marketers and advertisers for HD spots, as well as accelerating HD adoption by the leading network and television broadcasters. A solid start to the new television season and strong performance in the entertainment and automotive verticals surpassed Company expectations." Read more