NETGEAR, Inc. (NASDAQ:NTGR) – Stock analysts at BWS Financial dropped their Q1 2018 earnings per share (EPS) estimates for NETGEAR in a research report issued on Thursday. BWS Financial analyst H. Khorsand now expects that the communications equipment provider will post earnings of $0.43 per share for the quarter, down from their previous estimate of $0.55. BWS Financial currently has a “Buy” rating and a $60.00 target price on the stock. BWS Financial also issued estimates for NETGEAR’s Q2 2018 earnings at $0.44 EPS, Q4 2018 earnings at $0.89 EPS and FY2018 earnings at $2.43 EPS.
NETGEAR (NASDAQ:NTGR) last released its earnings results on Wednesday, October 25th. The communications equipment provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.13. NETGEAR had a return on equity of 10.57% and a net margin of 5.33%. The firm had revenue of $355.48 million for the quarter, compared to analysts’ expectations of $349.36 million. During the same period in the prior year, the firm posted $0.76 earnings per share. The company’s quarterly revenue was up 5.0% on a year-over-year basis.
Separately, Zacks Investment Research cut NETGEAR from a “hold” rating to a “sell” rating in a research note on Friday, October 13th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $62.75.
NETGEAR (NASDAQ:NTGR) traded up $0.05 during midday trading on Monday, hitting $50.60. The stock had a trading volume of 336,200 shares, compared to its average volume of 402,530. NETGEAR has a 52-week low of $41.50 and a 52-week high of $59.92. The stock has a market capitalization of $1,590.00, a PE ratio of 20.30 and a beta of 1.50.
In related news, Chairman Patrick Cs Lo sold 19,799 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $47.63, for a total transaction of $943,026.37. Following the sale, the chairman now directly owns 183,125 shares of the company’s stock, valued at $8,722,243.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael A. Werdann sold 750 shares of the stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $45.35, for a total value of $34,012.50. Following the sale, the senior vice president now directly owns 26,625 shares in the company, valued at $1,207,443.75. The disclosure for this sale can be found here. Insiders have sold 89,631 shares of company stock worth $4,286,230 over the last ninety days. 6.20% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Brandes Investment Partners LP purchased a new position in NETGEAR in the second quarter worth about $2,293,000. Eaton Vance Management boosted its position in NETGEAR by 193.6% in the second quarter. Eaton Vance Management now owns 271,238 shares of the communications equipment provider’s stock worth $11,690,000 after purchasing an additional 178,855 shares during the last quarter. Alliancebernstein L.P. boosted its position in NETGEAR by 28.2% in the second quarter. Alliancebernstein L.P. now owns 1,417,760 shares of the communications equipment provider’s stock worth $61,105,000 after purchasing an additional 311,735 shares during the last quarter. Bancorpsouth Inc. boosted its position in NETGEAR by 154.7% in the second quarter. Bancorpsouth Inc. now owns 12,801 shares of the communications equipment provider’s stock worth $552,000 after purchasing an additional 7,775 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in NETGEAR by 9.6% in the second quarter. Goldman Sachs Group Inc. now owns 121,997 shares of the communications equipment provider’s stock worth $5,258,000 after purchasing an additional 10,637 shares during the last quarter. 98.85% of the stock is currently owned by institutional investors.
NETGEAR, Inc designs, develops and markets networking solutions and smart connected products for consumers, businesses and service providers. The Company’s product line consists of devices, such as network attached storage, Internet protocol (IP) security cameras, and home automation devices and services.
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