$0.66 EPS Expected for NetGear, Inc. (NASDAQ:NTGR) This Quarter

Wall Street brokerages forecast that NetGear, Inc. (NASDAQ:NTGR) will post $0.66 earnings per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for NetGear’s earnings, with the highest EPS estimate coming in at $0.70 and the lowest estimate coming in at $0.61. NetGear reported earnings per share of $0.65 during the same quarter last year, which suggests a positive year-over-year growth rate of 1.5%. The company is scheduled to issue its next earnings report on Wednesday, October 28th.

According to Zacks, analysts expect that NetGear will report full-year earnings of $2.09 per share for the current financial year, with EPS estimates ranging from $1.95 to $2.22. For the next financial year, analysts forecast that the company will report earnings of $2.46 per share, with EPS estimates ranging from $2.20 to $2.65. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that follow NetGear.

NetGear (NASDAQ:NTGR) last released its quarterly earnings data on Wednesday, July 22nd. The communications equipment provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.32. The company had revenue of $280.05 million for the quarter, compared to the consensus estimate of $239.56 million. NetGear had a return on equity of 2.29% and a net margin of 1.35%.

Several equities research analysts recently commented on NTGR shares. Raymond James raised their target price on NetGear from $30.00 to $35.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. ValuEngine upgraded NetGear from a “hold” rating to a “buy” rating in a report on Thursday, September 3rd. BidaskClub downgraded NetGear from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Deutsche Bank raised their target price on NetGear from $25.00 to $32.00 and gave the company a “hold” rating in a report on Thursday, July 23rd. Finally, BWS Financial raised their target price on NetGear from $33.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $37.33.

Shares of NASDAQ:NTGR traded up $0.18 during mid-day trading on Friday, hitting $30.71. 3,971 shares of the company traded hands, compared to its average volume of 362,006. The firm has a market cap of $912.97 million, a P/E ratio of 69.39 and a beta of 1.11. NetGear has a 52-week low of $15.01 and a 52-week high of $34.93. The firm’s 50 day simple moving average is $32.10 and its 200 day simple moving average is $26.02.

In other NetGear news, SVP Tamesa Rogers sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $25.70, for a total transaction of $77,100.00. Following the completion of the sale, the senior vice president now owns 51,973 shares in the company, valued at approximately $1,335,706.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Heidi Cormack sold 1,340 shares of the firm’s stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $29.51, for a total value of $39,543.40. Following the sale, the senior vice president now owns 42,035 shares of the company’s stock, valued at approximately $1,240,452.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 197,612 shares of company stock valued at $6,360,677. 5.40% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN grew its position in shares of NetGear by 4.6% in the 1st quarter. Wells Fargo & Company MN now owns 909,857 shares of the communications equipment provider’s stock worth $20,781,000 after acquiring an additional 40,017 shares in the last quarter. Maverick Capital Ltd. grew its position in shares of NetGear by 15.0% in the 1st quarter. Maverick Capital Ltd. now owns 56,908 shares of the communications equipment provider’s stock worth $1,300,000 after acquiring an additional 7,438 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in shares of NetGear by 302.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 45,720 shares of the communications equipment provider’s stock worth $1,044,000 after acquiring an additional 34,354 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of NetGear by 48.4% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,168 shares of the communications equipment provider’s stock worth $346,000 after acquiring an additional 4,947 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of NetGear in the 2nd quarter worth approximately $277,000. Hedge funds and other institutional investors own 97.89% of the company’s stock.

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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