Novatel Wireless (NVTL) Issues Q2 Earnings Guidance
Novatel Wireless (NASDAQ:NVTL) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided EPS guidance of ($0.22)-($0.15) for the period, compared to the Thomson Reuters consensus EPS estimate of ($0.12), ARN reports. The company issued revenue guidance of $37-$43 million, compared to the consensus revenue estimate of $57.38 million.
Novatel Wireless (NASDAQ:NVTL) traded down 1.68% during mid-day trading on Wednesday, hitting $1.76. 218,364 shares of the company’s stock traded hands. Novatel Wireless has a 1-year low of $1.66 and a 1-year high of $4.43. The stock has a 50-day moving average of $1.89 and a 200-day moving average of $2.31. The company’s market cap is $60.2 million.
Novatel Wireless (NASDAQ:NVTL) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.21) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.18) by $0.03. The company had revenue of $48.30 million for the quarter, compared to the consensus estimate of $51.82 million. During the same quarter last year, the company posted ($0.22) earnings per share. Novatel Wireless’s revenue was down 43.8% compared to the same quarter last year. On average, analysts predict that Novatel Wireless will post $-0.36 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a neutral rating on shares of Novatel Wireless in a research note on Friday, March 14th. They now have a $2.00 price target on the stock. Analysts at Cowen and Company reiterated an outperform rating on shares of Novatel Wireless in a research note on Friday, March 7th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $2.33.
Novatel Wireless, Inc (NASDAQ:NVTL) is a provider of wireless broadband access solutions for the mobile communications market.
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