Analysts Expect Sierra Wireless, Inc. (SWIR) Will Post Quarterly Sales of $170.33 Million
Wall Street analysts expect that Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) will post $170.33 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Sierra Wireless’ earnings, with estimates ranging from $168.30 million to $171.10 million. Sierra Wireless reported sales of $153.56 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 10.9%. The business is scheduled to issue its next earnings results on Thursday, November 2nd.
On average, analysts expect that Sierra Wireless will report full-year sales of $170.33 million for the current year, with estimates ranging from $678.50 million to $683.10 million. For the next financial year, analysts expect that the business will post sales of $743.78 million per share, with estimates ranging from $722.90 million to $755.80 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Sierra Wireless.
Several research firms recently issued reports on SWIR. TD Securities began coverage on shares of Sierra Wireless in a research report on Tuesday, May 30th. They issued a “hold” rating for the company. TheStreet raised shares of Sierra Wireless from a “c+” rating to a “b” rating in a research report on Wednesday, August 2nd. Zacks Investment Research downgraded shares of Sierra Wireless from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Macquarie raised shares of Sierra Wireless from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $12.30 to $23.00 in a research report on Friday, August 4th. Finally, Scotiabank cut Sierra Wireless from a “sector perform” rating to an “underperform” rating and raised their price objective for the company from $22.00 to $23.00 in a research note on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $26.52.
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Shares of Sierra Wireless (NASDAQ SWIR) opened at 21.70 on Friday. Sierra Wireless has a 52-week low of $12.30 and a 52-week high of $31.95. The company has a market capitalization of $693.29 million, a price-to-earnings ratio of 34.07 and a beta of 3.11. The firm’s 50-day moving average is $22.73 and its 200 day moving average is $26.57.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SWIR. Wells Fargo & Company MN raised its stake in shares of Sierra Wireless by 19.2% during the 1st quarter. Wells Fargo & Company MN now owns 19,001 shares of the communications equipment provider’s stock worth $504,000 after purchasing an additional 3,055 shares during the period. First Trust Advisors LP bought a new stake in shares of Sierra Wireless during the 1st quarter worth $777,000. American Century Companies Inc. bought a new stake in shares of Sierra Wireless during the 1st quarter worth $267,000. Swiss National Bank raised its stake in shares of Sierra Wireless by 4.1% during the 1st quarter. Swiss National Bank now owns 53,700 shares of the communications equipment provider’s stock worth $1,425,000 after purchasing an additional 2,100 shares during the period. Finally, Karp Capital Management Corp bought a new stake in shares of Sierra Wireless during the 1st quarter worth $310,000. Institutional investors own 25.00% of the company’s stock.
About Sierra Wireless
Sierra Wireless, Inc is engaged in building the Internet of Things (IoT) with wireless solutions for organizations. The Company’s OEM Solution segment offers cellular embedded wireless modules for IoT connectivity, including an embedded application framework to support customer applications. The Company’s Enterprise Solution segment offers intelligent routers and gateways, including management tools and applications that enable cellular connectivity.
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