Zacks: Brokerages Anticipate NetGear, Inc. (NTGR) Will Post Earnings of $0.34 Per Share

Wall Street brokerages expect NetGear, Inc. (NASDAQ:NTGR) to report earnings per share of $0.34 for the current quarter, according to Zacks. Two analysts have made estimates for NetGear’s earnings. The highest EPS estimate is $0.36 and the lowest is $0.32. NetGear posted earnings of $0.71 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 52.1%. The business is expected to announce its next earnings report on Tuesday, February 5th.

On average, analysts expect that NetGear will report full year earnings of $2.22 per share for the current fiscal year, with EPS estimates ranging from $2.09 to $2.31. For the next year, analysts expect that the firm will report earnings of $2.58 per share, with EPS estimates ranging from $2.47 to $2.66. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow NetGear.

NetGear (NASDAQ:NTGR) last posted its earnings results on Thursday, October 25th. The communications equipment provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.26 by $0.25. The firm had revenue of $400.59 million for the quarter, compared to analyst estimates of $388.94 million. NetGear had a positive return on equity of 8.75% and a negative net margin of 1.43%.

Several research firms recently commented on NTGR. ValuEngine lowered NetGear from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. Cowen began coverage on NetGear in a report on Monday, October 1st. They set a “hold” rating and a $63.00 target price on the stock. Zacks Investment Research reissued a “hold” rating on shares of NetGear in a report on Wednesday, November 14th. Finally, BidaskClub raised NetGear from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 24th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. NetGear has a consensus rating of “Hold” and an average price target of $71.00.

NetGear stock opened at $37.72 on Friday. The stock has a market cap of $1.16 billion, a P/E ratio of 16.26 and a beta of 1.86. NetGear has a 52 week low of $31.80 and a 52 week high of $78.30.

In other NetGear news, SVP Michael F. Falcon sold 520 shares of the firm’s stock in a transaction that occurred on Wednesday, October 24th. The stock was sold at an average price of $55.95, for a total value of $29,094.00. Following the sale, the senior vice president now directly owns 41,325 shares of the company’s stock, valued at $2,312,133.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Michael A. Werdann sold 3,375 shares of the firm’s stock in a transaction that occurred on Monday, December 10th. The shares were sold at an average price of $52.02, for a total value of $175,567.50. Following the completion of the sale, the senior vice president now directly owns 27,922 shares in the company, valued at $1,452,502.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,900 shares of company stock worth $2,313,488. 5.10% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Marshall Wace North America L.P. purchased a new position in shares of NetGear in the third quarter valued at approximately $212,000. Tower Research Capital LLC TRC purchased a new position in shares of NetGear in the second quarter valued at approximately $267,000. Alps Advisors Inc. purchased a new position in shares of NetGear in the second quarter valued at approximately $291,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of NetGear in the second quarter valued at approximately $349,000. Finally, Sensato Investors LLC purchased a new position in shares of NetGear in the third quarter valued at approximately $365,000. Institutional investors and hedge funds own 99.99% of the company’s stock.

About NetGear

NETGEAR, Inc designs, develops, and markets networking and Internet connected products for consumers, businesses, and service providers. The company operates in three segments: Arlo, Connected Home, and Small and Medium Business. It offers smart home/connected home/broadband access products, such as remote video security systems, broadband modems, WiFi gateways, WiFi hotspots, WiFi routers and home WiFi systems, WiFi range extenders, Powerline adapters and bridges, and WiFi network adapters.

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