NetGear, Inc. (NASDAQ:NTGR) Expected to Announce Quarterly Sales of $236.46 Million

Brokerages expect NetGear, Inc. (NASDAQ:NTGR) to announce sales of $236.46 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for NetGear’s earnings. The highest sales estimate is $243.84 million and the lowest is $230.51 million. NetGear reported sales of $230.85 million during the same quarter last year, which indicates a positive year over year growth rate of 2.4%. The business is expected to issue its next quarterly earnings results on Wednesday, July 22nd.

On average, analysts expect that NetGear will report full year sales of $996.55 million for the current year, with estimates ranging from $984.36 million to $1.00 billion. For the next year, analysts anticipate that the firm will report 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 research analysts that that provide coverage for NetGear.

NetGear (NASDAQ:NTGR) last announced its quarterly earnings results on Wednesday, April 22nd. The communications equipment provider reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.05. NetGear had a net margin of 0.90% and a return on equity of 1.87%. The company had revenue of $229.96 million for the quarter, compared to analyst estimates of $215.95 million. During the same quarter in the prior year, the business posted $0.60 EPS. NetGear’s quarterly revenue was down 7.7% on a year-over-year basis.

NTGR has been the subject of several recent analyst reports. BidaskClub downgraded shares of NetGear from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Deutsche Bank initiated coverage on shares of NetGear in a report on Tuesday, May 19th. They set a “hold” rating and a $25.00 price objective for the company. Finally, BWS Financial raised shares of NetGear from a “neutral” rating to a “buy” rating and set a $33.00 price objective for the company in a report on Monday, March 30th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $34.00.

Shares of NTGR traded down $0.48 during mid-day trading on Monday, hitting $24.27. 453,051 shares of the company’s stock were exchanged, compared to its average volume of 250,984. The firm has a fifty day moving average of $25.02 and a two-hundred day moving average of $23.53. NetGear has a twelve month low of $15.01 and a twelve month high of $36.87. The stock has a market cap of $728.12 million, a price-to-earnings ratio of 89.89 and a beta of 1.08. The company has a quick ratio of 2.12, a current ratio of 2.89 and a debt-to-equity ratio of 0.04.

In other news, Director Gregory J. Rossman sold 3,554 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $25.65, for a total transaction of $91,160.10. Following the completion of the transaction, the director now directly owns 43,249 shares of the company’s stock, valued at approximately $1,109,336.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Tamesa Rogers sold 6,000 shares of the firm’s stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $25.00, for a total transaction of $150,000.00. Following the transaction, the senior vice president now directly owns 36,673 shares of the company’s stock, valued at $916,825. The disclosure for this sale can be found here. Insiders have sold a total of 24,232 shares of company stock valued at $610,825 over the last ninety days. 5.40% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP acquired a new stake in shares of NetGear during the 4th quarter worth about $39,000. Golden State Wealth Management LLC acquired a new stake in NetGear in the 1st quarter valued at about $64,000. Parkside Financial Bank & Trust increased its position in NetGear by 12,500.0% in the 1st quarter. Parkside Financial Bank & Trust now owns 3,780 shares of the communications equipment provider’s stock valued at $87,000 after acquiring an additional 3,750 shares in the last quarter. Marshall Wace LLP acquired a new stake in NetGear in the 4th quarter valued at about $106,000. Finally, Public Employees Retirement Association of Colorado increased its position in NetGear by 212.0% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 4,814 shares of the communications equipment provider’s stock valued at $110,000 after acquiring an additional 3,271 shares in the last quarter. Institutional investors and hedge funds own 99.00% of the company’s stock.

NetGear Company Profile

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.

Recommended Story: Quiet Period Expirations

Get a free copy of the Zacks research report on NetGear (NTGR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for NetGear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetGear and related companies with MarketBeat.com's FREE daily email newsletter.