NETGEAR (NASDAQ:NTGR – Get Free Report) announced its quarterly earnings data on Wednesday. The communications equipment provider reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.18, FiscalAI reports. The firm had revenue of $167.35 million for the quarter, compared to the consensus estimate of $170.00 million. NETGEAR had a negative net margin of 3.71% and a negative return on equity of 2.79%.
NETGEAR Stock Up 2.3%
NTGR stock traded up $0.50 during mid-day trading on Wednesday, reaching $22.32. 561,603 shares of the stock traded hands, compared to its average volume of 426,518. The firm has a market capitalization of $606.66 million, a PE ratio of -24.00 and a beta of 1.22. The business has a 50-day moving average of $22.26 and a two-hundred day moving average of $22.95. NETGEAR has a 52 week low of $19.00 and a 52 week high of $30.46.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the stock. Wall Street Zen raised shares of NETGEAR from a “sell” rating to a “hold” rating in a research note on Sunday, September 6th. Weiss Ratings restated a “sell (d)” rating on shares of NETGEAR in a report on Monday, September 21st. Finally, Stifel Nicolaus dropped their price target on shares of NETGEAR from $36.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, October 5th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, NETGEAR currently has a consensus rating of “Hold” and an average target price of $30.00.
View Our Latest Stock Analysis on NETGEAR
About NETGEAR
NETGEAR, Inc develops and sells networking products and connected technology for consumers, small and medium-sized businesses, and service providers. Its portfolio includes wireless routers, mesh Wi-Fi systems, cable and 5G modems, Wi-Fi extenders, network switches, wireless access points, and related connectivity products.
The company markets consumer products under brands such as Nighthawk and Orbi, while its business-oriented offerings include managed networking, switching, wireless access points, and cloud-based network management through the NETGEAR Insight platform.
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