Zacks: Brokerages Anticipate Aerohive Networks Inc (HIVE) to Post -$0.23 Earnings Per Share

Analysts forecast that Aerohive Networks Inc (NYSE:HIVE) will announce ($0.23) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Aerohive Networks’ earnings, with estimates ranging from ($0.23) to ($0.22). Aerohive Networks also reported earnings of ($0.23) per share during the same quarter last year. The firm is scheduled to announce its next earnings results after the market closes on Wednesday, May 3rd.

On average, analysts expect that Aerohive Networks will report full year earnings of ($0.71) per share for the current year, with EPS estimates ranging from ($0.75) to ($0.66). For the next fiscal year, analysts anticipate that the company will report earnings of ($0.55) per share, with EPS estimates ranging from ($0.65) to ($0.44). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Aerohive Networks.

Aerohive Networks (NYSE:HIVE) last released its quarterly earnings results on Tuesday, February 14th. The communications equipment provider reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.03. The business earned $41.70 million during the quarter, compared to analysts’ expectations of $44.07 million. Aerohive Networks had a negative return on equity of 107.34% and a negative net margin of 21.26%. The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.03) EPS.

HIVE has been the subject of several analyst reports. Zacks Investment Research upgraded Aerohive Networks from a “sell” rating to a “hold” rating in a research report on Wednesday, January 4th. William Blair reiterated an “outperform” rating on shares of Aerohive Networks in a research report on Wednesday, February 15th. Finally, JMP Securities lowered Aerohive Networks from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $4.99 to $5.24 in a research report on Monday, February 6th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $6.61.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HIVE. Russell Investments Group Ltd. purchased a new position in Aerohive Networks during the fourth quarter worth approximately $3,283,000. Boston Partners boosted its position in Aerohive Networks by 166.3% in the third quarter. Boston Partners now owns 1,290,116 shares of the communications equipment provider’s stock worth $7,857,000 after buying an additional 805,699 shares during the period. SECOR Capital Advisors LP purchased a new position in Aerohive Networks during the third quarter worth approximately $374,000. Spark Investment Management LLC boosted its position in Aerohive Networks by 246.2% in the third quarter. Spark Investment Management LLC now owns 113,200 shares of the communications equipment provider’s stock worth $689,000 after buying an additional 80,500 shares during the period. Finally, United Services Automobile Association boosted its position in Aerohive Networks by 10.9% in the third quarter. United Services Automobile Association now owns 568,890 shares of the communications equipment provider’s stock worth $3,465,000 after buying an additional 56,000 shares during the period. Institutional investors own 51.35% of the company’s stock.

Aerohive Networks (NYSE:HIVE) traded down 0.26% during trading on Monday, reaching $3.80. The company’s stock had a trading volume of 195,322 shares. Aerohive Networks has a one year low of $3.77 and a one year high of $7.45. The stock has a 50-day moving average of $4.18 and a 200 day moving average of $5.16. The firm’s market capitalization is $165.70 million.

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About Aerohive Networks

Aerohive Networks, Inc, together with its subsidiaries, is engaged in designing and development of a cloud-managed mobile networking platform that enables enterprises to deploy a mobile-centric network edge. The Company’s portfolio of products and solutions is built around sets of technologies and capabilities, which include Enterprise Cloud Networking, Wireless Fidelity (Wi-Fi) Connectivity and Application and Insights.

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