National Instruments Corporation (NATI) Expected to Post Quarterly Sales of $319.78 Million
Analysts expect National Instruments Corporation (NASDAQ:NATI) to post $319.78 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for National Instruments Corporation’s earnings. The highest sales estimate is $321.08 million and the lowest is $319.00 million. National Instruments Corporation reported sales of $306.36 million in the same quarter last year, which would suggest a positive year over year growth rate of 4.4%. The company is expected to announce its next quarterly earnings results on Thursday, October 26th.
According to Zacks, analysts expect that National Instruments Corporation will report full-year sales of $319.78 million for the current year, with estimates ranging from $1.28 billion to $1.30 billion. For the next financial year, analysts anticipate that the business will post sales of $1.38 billion per share, with estimates ranging from $1.34 billion to $1.41 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for National Instruments Corporation.
National Instruments Corporation (NASDAQ:NATI) last issued its earnings results on Thursday, July 27th. The technology company reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.08. The business had revenue of $318.61 million for the quarter, compared to the consensus estimate of $321.07 million. National Instruments Corporation had a net margin of 8.11% and a return on equity of 9.81%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.23 earnings per share.
A number of brokerages have recently issued reports on NATI. Zacks Investment Research downgraded National Instruments Corporation from a “hold” rating to a “sell” rating in a research report on Thursday. Stifel Nicolaus reissued a “buy” rating on shares of National Instruments Corporation in a report on Tuesday. Finally, BidaskClub cut National Instruments Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $40.25.
In related news, Director Jeffrey L. Kodosky sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $40.08, for a total transaction of $80,160.00. Following the transaction, the director now directly owns 382,771 shares of the company’s stock, valued at approximately $15,341,461.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James J. Truchard sold 7,500 shares of the firm’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $40.21, for a total value of $301,575.00. Following the transaction, the director now directly owns 9,091,416 shares in the company, valued at $365,565,837.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 70,500 shares of company stock worth $2,868,675. 9.92% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. purchased a new position in shares of National Instruments Corporation during the 2nd quarter valued at about $43,967,000. Baillie Gifford & Co. increased its stake in National Instruments Corporation by 1.3% in the 1st quarter. Baillie Gifford & Co. now owns 679,221 shares of the technology company’s stock worth $22,116,000 after purchasing an additional 8,673 shares during the period. Comerica Bank increased its stake in National Instruments Corporation by 1.4% in the 2nd quarter. Comerica Bank now owns 83,274 shares of the technology company’s stock worth $3,585,000 after purchasing an additional 1,176 shares during the period. Bares Capital Management Inc. increased its stake in National Instruments Corporation by 15.1% in the 1st quarter. Bares Capital Management Inc. now owns 3,766,942 shares of the technology company’s stock worth $122,652,000 after purchasing an additional 493,095 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in National Instruments Corporation by 10.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 73,980 shares of the technology company’s stock worth $2,976,000 after purchasing an additional 7,261 shares during the period. 80.38% of the stock is currently owned by institutional investors.
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National Instruments Corporation (NATI) opened at 41.72 on Thursday. The company’s 50-day moving average is $40.07 and its 200-day moving average is $37.48. The firm has a market capitalization of $5.44 billion, a P/E ratio of 56.45 and a beta of 0.94. National Instruments Corporation has a one year low of $27.08 and a one year high of $43.74.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Monday, August 14th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.01%. National Instruments Corporation’s dividend payout ratio is 107.69%.
About National Instruments Corporation
National Instruments Corporation (NI) designs, manufactures and sells systems to engineers and scientists. The Company offers a line of measurement, automation and control products. It offers products, technology and services, which include system design software, programming tools, application software, modular hardware products and related driver software, production test systems, NI education platform, software products for teaching and hardware products for teaching.
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