NETGEAR (NTGR) to Release Earnings on Wednesday

NETGEAR (NASDAQ:NTGR) will be issuing its quarterly earnings data after the market closes on Wednesday, May 1st. Analysts expect the company to announce earnings of ($0.27) per share for the quarter. NETGEAR has set its Q1 2024 guidance at EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.

NETGEAR (NASDAQ:NTGR) last issued its quarterly earnings results on Wednesday, February 7th. The communications equipment provider reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.04. NETGEAR had a negative return on equity of 2.96% and a negative net margin of 14.14%. The company had revenue of $188.67 million during the quarter, compared to analysts’ expectations of $185.14 million. During the same quarter in the prior year, the firm posted ($0.21) earnings per share. The business’s quarterly revenue was down 24.3% on a year-over-year basis. On average, analysts expect NETGEAR to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

NETGEAR Stock Performance

NASDAQ:NTGR opened at $14.58 on Wednesday. NETGEAR has a fifty-two week low of $10.40 and a fifty-two week high of $17.67. The company has a 50 day simple moving average of $14.90 and a two-hundred day simple moving average of $13.96. The company has a market capitalization of $423.84 million, a PE ratio of -4.11 and a beta of 0.84.

Wall Street Analyst Weigh In

Separately, BWS Financial reiterated a “buy” rating and set a $30.00 target price on shares of NETGEAR in a research report on Wednesday, April 10th.

Insider Transactions at NETGEAR

In related news, SVP Vikram Mehta sold 1,844 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $14.48, for a total transaction of $26,701.12. Following the transaction, the senior vice president now directly owns 25,569 shares of the company’s stock, valued at approximately $370,239.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Andrew Wonki Kim sold 5,723 shares of NETGEAR stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $14.54, for a total transaction of $83,212.42. Following the completion of the transaction, the insider now directly owns 76,656 shares in the company, valued at $1,114,578.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Vikram Mehta sold 1,844 shares of the company’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $14.48, for a total transaction of $26,701.12. Following the completion of the sale, the senior vice president now owns 25,569 shares in the company, valued at approximately $370,239.12. The disclosure for this sale can be found here. Insiders have sold 13,456 shares of company stock valued at $195,304 in the last 90 days. 6.00% of the stock is currently owned by corporate insiders.

About NETGEAR

NETGEAR, Inc provides connectivity solutions the Americas; Europe, the Middle East, Africa; and the Asia Pacific. The company operates in two segments, Connected Home, and NETGEAR for Business. The Connected Home segment offers Wi-Fi routers and home Wi-Fi mesh systems, Wi-Fi hotspots, digital displays, broadband modems, Wi-Fi gateways, Wi-Fi range extenders, powerline adapters, and Wi-Fi network adapters; and provides value-added service offerings, including security and privacy, technical support, and parental controls.