Zacks: Brokerages Expect Extreme Networks, Inc (NASDAQ:EXTR) to Announce $0.04 EPS

Wall Street brokerages predict that Extreme Networks, Inc (NASDAQ:EXTR) will post earnings of $0.04 per share for the current quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Extreme Networks’ earnings. Extreme Networks reported earnings of $0.20 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 80%. The business is scheduled to report its next earnings results before the market opens on Wednesday, July 31st.

According to Zacks, analysts expect that Extreme Networks will report full year earnings of $0.32 per share for the current financial year. For the next financial year, analysts anticipate that the company will post earnings of $0.62 per share. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that that provide coverage for Extreme Networks.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data on Wednesday, May 1st. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.03. The firm had revenue of $250.90 million for the quarter, compared to the consensus estimate of $253.49 million. Extreme Networks had a positive return on equity of 26.15% and a negative net margin of 1.41%. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.16 EPS.

Several analysts have issued reports on the company. BidaskClub upgraded Zillow Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 2nd. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Finally, Zacks Investment Research raised Investar from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Tuesday, June 4th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $9.00.

A number of institutional investors have recently made changes to their positions in EXTR. Comerica Bank grew its holdings in shares of Extreme Networks by 1.6% in the first quarter. Comerica Bank now owns 115,743 shares of the technology company’s stock valued at $877,000 after acquiring an additional 1,789 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Extreme Networks by 2.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 83,447 shares of the technology company’s stock valued at $509,000 after purchasing an additional 1,835 shares during the last quarter. Texas Permanent School Fund boosted its holdings in shares of Extreme Networks by 2.4% during the 1st quarter. Texas Permanent School Fund now owns 79,278 shares of the technology company’s stock valued at $594,000 after purchasing an additional 1,840 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings in shares of Extreme Networks by 438.4% during the 1st quarter. Meeder Asset Management Inc. now owns 3,467 shares of the technology company’s stock valued at $26,000 after purchasing an additional 2,823 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Extreme Networks during the 4th quarter valued at about $25,000. 80.89% of the stock is owned by hedge funds and other institutional investors.

NASDAQ EXTR traded up $0.12 on Friday, hitting $6.99. 32,105 shares of the company were exchanged, compared to its average volume of 1,101,751. The company’s 50 day moving average price is $6.08. The company has a quick ratio of 1.10, a current ratio of 1.29 and a debt-to-equity ratio of 1.37. The company has a market cap of $821.75 million, a price-to-earnings ratio of 15.91 and a beta of 1.57. Extreme Networks has a twelve month low of $4.81 and a twelve month high of $9.08.

Extreme Networks Company Profile

Extreme Networks, Inc provides software-driven networking solutions for enterprise customers worldwide. It designs, develops, and manufactures wired and wireless network infrastructure equipment; and develops the software for network management, policy, analytics, security, and access controls. The company offers edge/access Ethernet switching systems that deliver Ethernet connectivity for edge of the network; aggregation/core Ethernet switching systems for aggregation, top-of-rack, and campus core environments; data center switching systems for enterprises and cloud data centers; and wireless access point products, as well as distributed Wi-Fi networks.

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