Equities research analysts expect Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) to announce sales of $191.70 million for the current quarter, according to Zacks. Two analysts have provided estimates for Sierra Wireless’ earnings. The highest sales estimate is $192.00 million and the lowest is $191.40 million. Sierra Wireless posted sales of $203.43 million in the same quarter last year, which suggests a negative year over year growth rate of 5.8%. The business is expected to issue its next quarterly earnings results after the market closes on Thursday, November 7th.
On average, analysts expect that Sierra Wireless will report full year sales of $754.53 million for the current financial year, with estimates ranging from $753.00 million to $755.70 million. For the next financial year, analysts anticipate that the firm will report sales of $837.37 million, with estimates ranging from $824.50 million to $850.00 million. Zacks’ sales averages are an average based on a survey of analysts that cover Sierra Wireless.
Sierra Wireless (NASDAQ:SWIR) (TSE:SW) last posted its quarterly earnings data on Wednesday, July 31st. The communications equipment provider reported ($0.02) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.02). The company had revenue of $191.37 million during the quarter, compared to analysts’ expectations of $191.95 million. Sierra Wireless had a positive return on equity of 0.02% and a negative net margin of 5.75%. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period last year, the firm earned $0.27 EPS.
SWIR has been the subject of several recent analyst reports. National Bank Financial reduced their price target on Sierra Wireless from $15.00 to $12.50 and set a “sector perform” rating for the company in a report on Thursday, August 1st. BidaskClub raised Sierra Wireless from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 28th. Raymond James reissued an “outperform” rating and issued a $20.00 price target on shares of Sierra Wireless in a report on Thursday, August 1st. TheStreet cut Sierra Wireless from a “c-” rating to a “d+” rating in a report on Wednesday, September 4th. Finally, TD Securities reduced their price target on Sierra Wireless from $14.50 to $13.00 and set a “hold” rating for the company in a report on Thursday, August 1st. Four analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $15.64.
Shares of SWIR traded up $0.03 during mid-day trading on Thursday, hitting $11.07. The company’s stock had a trading volume of 123,956 shares, compared to its average volume of 228,415. The company has a current ratio of 1.52, a quick ratio of 1.24 and a debt-to-equity ratio of 0.16. The firm has a 50-day simple moving average of $10.86 and a 200 day simple moving average of $11.86. The firm has a market capitalization of $399.65 million, a P/E ratio of 85.15 and a beta of 2.00. Sierra Wireless has a 1-year low of $10.04 and a 1-year high of $19.81.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Horrell Capital Management Inc. grew its holdings in shares of Sierra Wireless by 9.7% during the third quarter. Horrell Capital Management Inc. now owns 565,000 shares of the communications equipment provider’s stock valued at $6,046,000 after purchasing an additional 50,000 shares during the last quarter. NEXT Financial Group Inc grew its holdings in shares of Sierra Wireless by 29.4% during the third quarter. NEXT Financial Group Inc now owns 21,371 shares of the communications equipment provider’s stock valued at $229,000 after purchasing an additional 4,850 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Sierra Wireless by 25.9% during the second quarter. Royal Bank of Canada now owns 46,258 shares of the communications equipment provider’s stock valued at $559,000 after purchasing an additional 9,521 shares during the last quarter. Morgan Stanley grew its holdings in shares of Sierra Wireless by 20.7% during the second quarter. Morgan Stanley now owns 279,661 shares of the communications equipment provider’s stock valued at $3,378,000 after purchasing an additional 47,961 shares during the last quarter. Finally, Invesco Ltd. bought a new position in shares of Sierra Wireless during the second quarter valued at approximately $123,000. 41.07% of the stock is owned by hedge funds and other institutional investors.
About Sierra Wireless
Sierra Wireless, Inc, together with its subsidiaries, manufactures and sells cellular wireless devices, and provide services in the wireless communications and information technology industry in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its Original Equipment Manufacturer (OEM) Solutions segment offers embedded cellular modules, short range wireless modules, global navigation satellite system modules, software, and tools to integrate wireless connectivity into various products and solutions for OEM customers, including the embedded wireless modules product portfolio; cloud-based remote device and data management solutions; and Legato, an open source Linux-based platform.
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