Analysts forecast that NetGear, Inc. (NASDAQ:NTGR) will post sales of $236.46 million for the current quarter, Zacks reports. Three analysts have issued estimates for NetGear’s earnings. The highest sales estimate is $243.84 million and the lowest is $230.51 million. NetGear posted sales of $230.85 million during the same quarter last year, which suggests a positive year-over-year growth rate of 2.4%. The business is expected to report its next quarterly earnings report on Wednesday, July 22nd.
According to Zacks, analysts expect that NetGear will report full-year sales of $996.55 million for the current financial year, with estimates ranging from $984.36 million to $1.00 billion. For the next financial year, analysts anticipate that the business will post sales of $1.02 billion, with estimates ranging from $1.01 billion to $1.03 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover NetGear.
NetGear (NASDAQ:NTGR) last posted its earnings results on Wednesday, April 22nd. The communications equipment provider reported $0.21 EPS for the quarter, topping the consensus estimate of $0.16 by $0.05. The firm had revenue of $229.96 million during the quarter, compared to analysts’ expectations of $215.95 million. NetGear had a net margin of 0.90% and a return on equity of 1.87%. NetGear’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.60 EPS.
A number of analysts recently weighed in on the stock. BWS Financial upgraded shares of NetGear from a “neutral” rating to a “buy” rating and set a $33.00 target price for the company in a report on Monday, March 30th. BidaskClub cut shares of NetGear from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Finally, Deutsche Bank assumed coverage on shares of NetGear in a report on Tuesday, May 19th. They set a “hold” rating and a $25.00 target price for the company. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $34.00.
Shares of NetGear stock traded down $0.48 on Monday, hitting $24.27. The company had a trading volume of 453,900 shares, compared to its average volume of 372,571. The company has a market cap of $714.02 million, a PE ratio of 89.89 and a beta of 1.08. NetGear has a 52 week low of $15.01 and a 52 week high of $36.87. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.89 and a quick ratio of 2.12. The business has a 50-day simple moving average of $25.05 and a 200-day simple moving average of $23.52.
In other NetGear news, Director Gregory J. Rossman sold 3,554 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $25.65, for a total value of $91,160.10. Following the completion of the sale, the director now owns 43,249 shares in the company, valued at approximately $1,109,336.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Tamesa Rogers sold 6,000 shares of the stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $25.00, for a total transaction of $150,000.00. Following the completion of the sale, the senior vice president now owns 36,673 shares of the company’s stock, valued at approximately $916,825. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,232 shares of company stock valued at $610,825. 5.40% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the stock. Victory Capital Management Inc. lifted its holdings in shares of NetGear by 37.5% during the 4th quarter. Victory Capital Management Inc. now owns 1,993,962 shares of the communications equipment provider’s stock worth $48,872,000 after acquiring an additional 543,924 shares during the period. Investment Counselors of Maryland LLC grew its holdings in NetGear by 58.0% during the fourth quarter. Investment Counselors of Maryland LLC now owns 967,524 shares of the communications equipment provider’s stock valued at $23,714,000 after purchasing an additional 355,106 shares during the period. Norges Bank acquired a new position in NetGear during the fourth quarter valued at approximately $7,312,000. Jacobs Levy Equity Management Inc. grew its holdings in NetGear by 185.1% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 389,861 shares of the communications equipment provider’s stock valued at $9,555,000 after purchasing an additional 253,102 shares during the period. Finally, Alyeska Investment Group L.P. acquired a new position in NetGear during the first quarter valued at approximately $4,931,000. Institutional investors and hedge funds own 99.00% of the company’s stock.
NETGEAR, Inc designs, develops, and markets networking and Internet connected products for consumers, businesses, and service providers. It operates in two segments, Connected Home, and Small and Medium Business. The company offers smart home/connected home/broadband access products, such as broadband modems, WiFi gateways, WiFi hotspots, WiFi routers and home WiFi systems, WiFi range extenders, Powerline adapters and bridges, WiFi network adapters, and digital canvasses; and value added service offerings, including technical support, parental controls, and cybersecurity protection.
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