NetGear Rating Lowered to Market Perform at Raymond James (NTGR)
NetGear (NASDAQ:NTGR) was downgraded by Raymond James from an “outperform” rating to a “market perform” rating in a research note issued on Friday, TheFlyOnTheWall.com reports.
NetGear (NASDAQ:NTGR) opened at 31.59 on Friday. NetGear has a one year low of $28.13 and a one year high of $36.27. The stock has a 50-day moving average of $34.05 and a 200-day moving average of $33.49. The company has a market cap of $1.153 billion and a price-to-earnings ratio of 24.51.
NetGear (NASDAQ:NTGR) last released its earnings data on Thursday, July 24th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.03. The company had revenue of $337.60 million for the quarter, compared to the consensus estimate of $344.30 million. During the same quarter in the previous year, the company posted $0.62 earnings per share. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. Analysts expect that NetGear will post $2.43 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Zacks upgraded shares of NetGear from an “underperform” rating to a “neutral” rating in a research note on Wednesday, June 25th. They now have a $34.60 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $34.09.
NETGEAR, Inc is a global networking company that delivers products to consumers, businesses and service providers.
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