NetGear, Inc. (NASDAQ:NTGR) Expected to Announce Quarterly Sales of $270.92 Million

Equities analysts predict that NetGear, Inc. (NASDAQ:NTGR) will report $270.92 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for NetGear’s earnings, with estimates ranging from $268.51 million to $275.43 million. NetGear reported sales of $400.59 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 32.4%. The firm is expected to announce its next quarterly earnings results after the market closes on Wednesday, October 23rd.

According to Zacks, analysts expect that NetGear will report full-year sales of $1.05 billion for the current fiscal year, with estimates ranging from $1.04 billion to $1.06 billion. For the next year, analysts anticipate that the company will post sales of $1.08 billion, with estimates ranging from $1.06 billion to $1.09 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for NetGear.

NetGear (NASDAQ:NTGR) last posted its quarterly earnings results on Wednesday, July 24th. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.14). The firm had revenue of $230.85 million during the quarter, compared to the consensus estimate of $224.35 million. NetGear had a net margin of 0.91% and a return on equity of 7.26%. NetGear’s revenue was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.29 EPS.

Several research firms have weighed in on NTGR. BidaskClub lowered NetGear from a “hold” rating to a “sell” rating in a research note on Friday, September 20th. Guggenheim set a $44.00 target price on NetGear and gave the company a “buy” rating in a research note on Thursday, September 12th. Deutsche Bank began coverage on NetGear in a research note on Friday, June 28th. They issued a “hold” rating and a $28.00 target price on the stock. Finally, ValuEngine raised NetGear from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $36.67.

NASDAQ:NTGR traded up $0.42 during mid-day trading on Monday, hitting $31.53. The company had a trading volume of 106,501 shares, compared to its average volume of 385,135. NetGear has a fifty-two week low of $24.63 and a fifty-two week high of $57.65. The business’s fifty day moving average is $32.85 and its two-hundred day moving average is $30.44. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.57 and a current ratio of 2.45. The firm has a market cap of $974.99 million, a P/E ratio of 18.12 and a beta of 1.68.

In other NetGear news, Director Jef Graham sold 3,491 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $35.00, for a total value of $122,185.00. Following the transaction, the director now owns 12,898 shares of the company’s stock, valued at $451,430. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Patrick Cs Lo sold 11,588 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $33.51, for a total value of $388,313.88. Following the completion of the transaction, the chief executive officer now directly owns 256,503 shares in the company, valued at approximately $8,595,415.53. The disclosure for this sale can be found here. Insiders sold 87,668 shares of company stock worth $2,917,128 in the last three months. Insiders own 5.10% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NTGR. BlackRock Inc. acquired a new stake in shares of NetGear during the second quarter worth about $120,224,000. Vanguard Group Inc. acquired a new stake in shares of NetGear during the second quarter worth about $82,673,000. First Trust Advisors LP acquired a new stake in shares of NetGear during the second quarter worth about $58,736,000. Bank of New York Mellon Corp acquired a new stake in shares of NetGear during the second quarter worth about $35,531,000. Finally, Macquarie Group Ltd. acquired a new stake in shares of NetGear during the second quarter worth about $26,269,000. 99.91% of the stock is currently owned by institutional investors.

About NetGear

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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Earnings History and Estimates for NetGear (NASDAQ:NTGR)

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