Zacks: Analysts Expect NETGEAR, Inc. (NASDAQ:NTGR) Will Post Quarterly Sales of $211.57 Million

Equities analysts expect NETGEAR, Inc. (NASDAQ:NTGRGet Rating) to post sales of $211.57 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for NETGEAR’s earnings. The lowest sales estimate is $210.26 million and the highest is $212.88 million. NETGEAR posted sales of $308.81 million during the same quarter last year, which would indicate a negative year over year growth rate of 31.5%. The business is scheduled to announce its next earnings results on Monday, January 1st.

On average, analysts expect that NETGEAR will report full year sales of $905.44 million for the current financial year, with estimates ranging from $895.25 million to $915.64 million. For the next fiscal year, analysts forecast that the business will report sales of $941.98 million. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for NETGEAR.

NETGEAR (NASDAQ:NTGRGet Rating) last issued its quarterly earnings data on Wednesday, April 27th. The communications equipment provider reported ($1.95) earnings per share (EPS) for the quarter. The business had revenue of $210.56 million during the quarter, compared to the consensus estimate of $223.99 million. NETGEAR had a negative net margin of 2.90% and a negative return on equity of 4.45%. During the same quarter in the previous year, the firm posted $0.72 EPS.

NTGR has been the subject of a number of research analyst reports. StockNews.com cut NETGEAR from a “hold” rating to a “sell” rating in a research note on Thursday, May 12th. Raymond James dropped their target price on NETGEAR from $34.00 to $31.00 and set an “outperform” rating on the stock in a report on Thursday, February 3rd. Deutsche Bank Aktiengesellschaft dropped their target price on NETGEAR from $25.00 to $22.00 in a report on Thursday, April 28th. Zacks Investment Research lowered NETGEAR from a “hold” rating to a “strong sell” rating and set a $19.00 target price on the stock. in a report on Wednesday, May 4th. Finally, BWS Financial dropped their target price on NETGEAR from $30.00 to $27.00 in a report on Monday, April 18th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $24.75.

NASDAQ NTGR traded down $0.47 on Monday, reaching $18.73. The company had a trading volume of 225,114 shares, compared to its average volume of 288,359. The stock’s 50 day moving average is $22.50 and its 200-day moving average is $25.98. The stock has a market cap of $538.86 million, a price-to-earnings ratio of -17.03 and a beta of 0.78. NETGEAR has a 52 week low of $18.28 and a 52 week high of $41.96.

In other news, SVP Vikram Mehta sold 2,760 shares of the stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $21.94, for a total value of $60,554.40. Following the completion of the transaction, the senior vice president now directly owns 50,313 shares in the company, valued at approximately $1,103,867.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Heidi Cormack sold 2,105 shares of the firm’s stock in a transaction on Thursday, April 21st. The stock was sold at an average price of $22.52, for a total value of $47,404.60. Following the transaction, the senior vice president now directly owns 61,421 shares of the company’s stock, valued at $1,383,200.92. The disclosure for this sale can be found here. Company insiders own 4.70% of the company’s stock.

Large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of NETGEAR by 3.0% in the 1st quarter. BlackRock Inc. now owns 5,588,137 shares of the communications equipment provider’s stock worth $137,917,000 after acquiring an additional 165,385 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of NETGEAR by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 3,239,551 shares of the communications equipment provider’s stock valued at $79,952,000 after buying an additional 68,566 shares during the period. Victory Capital Management Inc. grew its stake in shares of NETGEAR by 1.7% in the 1st quarter. Victory Capital Management Inc. now owns 2,877,951 shares of the communications equipment provider’s stock valued at $70,873,000 after buying an additional 47,693 shares during the period. Brandes Investment Partners LP grew its stake in shares of NETGEAR by 38.4% in the 1st quarter. Brandes Investment Partners LP now owns 1,718,811 shares of the communications equipment provider’s stock valued at $42,420,000 after buying an additional 477,193 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of NETGEAR by 4.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,670,410 shares of the communications equipment provider’s stock valued at $41,226,000 after buying an additional 73,225 shares during the period. 93.08% of the stock is owned by institutional investors and hedge funds.

NETGEAR Company Profile (Get Rating)

NETGEAR, Inc designs, develops, and markets networking and Internet connected products for consumers, businesses, and service providers. The company operates in two segments, Connected Home, and Small and Medium Business. It offers smart home/connected home/broadband access products, such as Wi-Fi routers and home Wi-Fi systems, broadband modems, Wi-Fi gateways, Wi-Fi hotspots, Wi-Fi range extenders, Powerline adapters and bridges, Wi-Fi network adapters, and digital canvasses; and value-added service offerings, including technical support, parental controls, and cybersecurity protection.

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