-$0.42 EPS Expected for Internap Corp (INAP) This Quarter

Share on StockTwits

Equities analysts forecast that Internap Corp (NASDAQ:INAP) will report ($0.42) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Internap’s earnings, with estimates ranging from ($0.51) to ($0.33). Internap posted earnings per share of ($0.28) during the same quarter last year, which would indicate a negative year over year growth rate of 50%. The firm is expected to issue its next earnings results on Thursday, March 14th.

Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that cover Internap.

Internap (NASDAQ:INAP) last posted its quarterly earnings data on Thursday, November 1st. The information technology services provider reported ($0.75) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.51) by ($0.24). Internap had a negative net margin of 16.18% and a negative return on equity of 2,471.65%. The company had revenue of $82.97 million for the quarter, compared to analyst estimates of $82.80 million. During the same quarter last year, the company earned ($0.48) EPS. The business’s revenue was up 20.4% compared to the same quarter last year.

INAP has been the topic of several research reports. SunTrust Banks initiated coverage on shares of Internap in a report on Tuesday, September 18th. They issued a “buy” rating and a $22.00 price target on the stock. Craig Hallum cut their price target on shares of Internap from $22.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, November 2nd. BidaskClub upgraded shares of Internap from a “hold” rating to a “buy” rating in a report on Tuesday, August 14th. Stifel Nicolaus set a $13.00 price target on shares of Internap and gave the stock a “hold” rating in a report on Friday, August 3rd. Finally, Zacks Investment Research downgraded shares of Internap from a “buy” rating to a “hold” rating in a report on Wednesday, October 31st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Internap presently has an average rating of “Hold” and an average price target of $17.60.

Shares of INAP traded up $0.34 during mid-day trading on Wednesday, hitting $7.34. 11,333 shares of the company traded hands, compared to its average volume of 755,054. Internap has a 1-year low of $6.08 and a 1-year high of $18.49. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 72.60. The company has a market cap of $144.50 million, a P/E ratio of -4.74 and a beta of 2.51.

Large investors have recently modified their holdings of the stock. Royal Bank of Canada increased its holdings in Internap by 1,220.3% in the 1st quarter. Royal Bank of Canada now owns 17,666 shares of the information technology services provider’s stock worth $194,000 after buying an additional 16,328 shares during the period. Gamco Investors INC. ET AL grew its stake in shares of Internap by 3.2% during the 2nd quarter. Gamco Investors INC. ET AL now owns 2,284,165 shares of the information technology services provider’s stock worth $23,801,000 after purchasing an additional 70,945 shares during the period. Gabelli Funds LLC grew its stake in shares of Internap by 13.3% during the 2nd quarter. Gabelli Funds LLC now owns 2,392,797 shares of the information technology services provider’s stock worth $24,933,000 after purchasing an additional 280,924 shares during the period. GSA Capital Partners LLP grew its stake in shares of Internap by 101.1% during the 2nd quarter. GSA Capital Partners LLP now owns 141,210 shares of the information technology services provider’s stock worth $1,471,000 after purchasing an additional 70,977 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Internap during the 2nd quarter worth approximately $126,000. Institutional investors own 83.88% of the company’s stock.

About Internap

Internap Corporation provides Internet infrastructure services. It operates through two business segments, INAP COLO and INAP CLOUD. The INAP COLO segment offers colocation services, including physical space within data centers and related services, such as power, interconnection, environmental controls, monitoring, and security; and Internet protocol (IP) connectivity services comprising its patented Performance IP and content delivery network services, IP routing hardware and software platforms, and Managed Internet Route Optimizer controllers.

Featured Article: What is Cost of Capital?

Get a free copy of the Zacks research report on Internap (INAP)

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

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

Leave a Reply