FY2017 EPS Estimates for NETGEAR, Inc. (NTGR) Reduced by BWS Financial

NETGEAR, Inc. (NASDAQ:NTGR) – BWS Financial lowered their FY2017 earnings per share (EPS) estimates for NETGEAR in a research report issued on Monday. BWS Financial analyst H. Khorsand now expects that the communications equipment provider will post earnings per share of $2.26 for the year, down from their prior forecast of $2.27. BWS Financial currently has a “Buy” rating and a $60.00 target price on the stock.

Separately, Zacks Investment Research downgraded shares of NETGEAR from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. NETGEAR presently has a consensus rating of “Buy” and a consensus target price of $62.13.

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NETGEAR (NASDAQ NTGR) opened at 51.90 on Thursday. The firm has a market cap of $1.64 billion, a PE ratio of 23.82 and a beta of 1.53. NETGEAR has a 12-month low of $41.50 and a 12-month high of $59.92. The firm’s 50-day moving average is $48.20 and its 200 day moving average is $46.47.

NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings results on Wednesday, July 26th. The communications equipment provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.54 by $0.06. NETGEAR had a net margin of 5.42% and a return on equity of 10.67%. The company had revenue of $330.72 million during the quarter, compared to analysts’ expectations of $324.64 million. During the same quarter in the previous year, the business posted $0.72 EPS. The firm’s revenue was up 6.1% on a year-over-year basis.

Hedge funds have recently added to or reduced their stakes in the company. Brandes Investment Partners LP acquired a new stake in shares of NETGEAR during the second quarter worth approximately $2,293,000. SG Americas Securities LLC grew its position in shares of NETGEAR by 55.0% during the first quarter. SG Americas Securities LLC now owns 7,646 shares of the communications equipment provider’s stock worth $379,000 after buying an additional 2,714 shares in the last quarter. Eaton Vance Management grew its position in shares of NETGEAR by 193.6% during the second quarter. Eaton Vance Management now owns 271,238 shares of the communications equipment provider’s stock worth $11,690,000 after buying an additional 178,855 shares in the last quarter. Morgan Stanley grew its position in shares of NETGEAR by 62.8% during the first quarter. Morgan Stanley now owns 298,144 shares of the communications equipment provider’s stock worth $14,772,000 after buying an additional 115,015 shares in the last quarter. Finally, Tudor Investment Corp ET AL grew its position in shares of NETGEAR by 5.9% during the first quarter. Tudor Investment Corp ET AL now owns 9,000 shares of the communications equipment provider’s stock worth $446,000 after buying an additional 500 shares in the last quarter. 98.89% of the stock is owned by institutional investors and hedge funds.

In other news, Chairman Patrick Cs Lo sold 19,799 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $47.63, for a total transaction of $943,026.37. Following the completion of the sale, the chairman now owns 183,125 shares of the company’s stock, valued at $8,722,243.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Tamesa Rogers sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $47.35, for a total transaction of $71,025.00. Following the sale, the senior vice president now directly owns 22,703 shares of the company’s stock, valued at approximately $1,074,987.05. The disclosure for this sale can be found here. Insiders have sold 88,722 shares of company stock valued at $4,260,177 in the last three months. Corporate insiders own 6.20% of the company’s stock.

NETGEAR Company Profile

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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