Wall Street brokerages expect NETGEAR, Inc. (NASDAQ:NTGR) to announce $348.28 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for NETGEAR’s earnings. The lowest sales estimate is $347.82 million and the highest is $348.74 million. NETGEAR posted sales of $338.46 million in the same quarter last year, which suggests a positive year over year growth rate of 2.9%. The company is scheduled to report its next quarterly earnings report on Wednesday, October 25th.
According to Zacks, analysts expect that NETGEAR will report full-year sales of $348.28 million for the current fiscal year, with estimates ranging from $1.38 billion to $1.39 billion. For the next year, analysts forecast that the firm will report sales of $1.45 billion per share, with estimates ranging from $1.44 billion to $1.46 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for NETGEAR.
NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings data on Wednesday, July 26th. The communications equipment provider reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.06. NETGEAR had a net margin of 5.42% and a return on equity of 10.67%. The company had revenue of $330.72 million during the quarter, compared to analyst estimates of $324.64 million. During the same period in the prior year, the firm earned $0.72 earnings per share. The business’s quarterly revenue was up 6.1% on a year-over-year basis.
A number of equities analysts have issued reports on NTGR shares. Zacks Investment Research cut NETGEAR from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. BWS Financial upgraded NETGEAR from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Monday. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $62.13.
NETGEAR (NTGR) traded down 1.54% during mid-day trading on Monday, reaching $51.10. 603,888 shares of the company’s stock were exchanged. NETGEAR has a 52 week low of $41.50 and a 52 week high of $59.92. The stock has a market cap of $1.61 billion, a P/E ratio of 23.45 and a beta of 1.53. The stock has a 50-day moving average price of $48.20 and a 200-day moving average price of $46.47.
In other news, SVP David John Henry sold 4,694 shares of NETGEAR stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $50.00, for a total transaction of $234,700.00. Following the transaction, the senior vice president now owns 34,651 shares in the company, valued at approximately $1,732,550. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael A. Werdann sold 750 shares of NETGEAR stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $45.35, for a total value of $34,012.50. Following the transaction, the senior vice president now owns 26,625 shares in the company, valued at approximately $1,207,443.75. The disclosure for this sale can be found here. Insiders have sold a total of 88,722 shares of company stock worth $4,260,177 in the last quarter. 6.20% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. Ardsley Advisory Partners bought a new position in shares of NETGEAR during the 2nd quarter valued at about $517,000. Public Employees Retirement System of Ohio raised its position in NETGEAR by 0.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 44,772 shares of the communications equipment provider’s stock valued at $1,930,000 after buying an additional 135 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new stake in NETGEAR in the 2nd quarter valued at approximately $302,000. State Street Corp raised its position in NETGEAR by 1.8% in the 2nd quarter. State Street Corp now owns 842,782 shares of the communications equipment provider’s stock valued at $36,319,000 after buying an additional 14,817 shares during the last quarter. Finally, Macquarie Group Ltd. raised its position in NETGEAR by 35.0% in the 2nd quarter. Macquarie Group Ltd. now owns 593,665 shares of the communications equipment provider’s stock valued at $25,587,000 after buying an additional 154,070 shares during the last quarter. Institutional investors and hedge funds own 98.89% of the company’s stock.
NETGEAR, Inc designs, develops and markets networking solutions and smart connected products for consumers, businesses and service providers. The Company’s product line consists of devices, such as network attached storage, Internet protocol (IP) security cameras, and home automation devices and services.
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