Ruckus Wireless Inc (RKUS) Releases Q3 Earnings Guidance
Ruckus Wireless Inc (NASDAQ:RKUS) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.09-$0.11 for the period, compared to the Thomson Reuters consensus estimate of $0.06, Stock Ratings Network reports. The company issued revenue guidance of $84-$86 million, compared to the consensus revenue estimate of $84.94 million.
A number of analysts have recently weighed in on RKUS shares. Analysts at Pacific Crest initiated coverage on shares of Ruckus Wireless in a research note on Wednesday. They set an outperform rating and a $15.00 price target on the stock. On a related note, analysts at Goldman Sachs upgraded shares of Ruckus Wireless from a buy rating to a conviction-buy rating in a research note on Thursday, July 24th. Finally, analysts at Wells Fargo & Co. initiated coverage on shares of Ruckus Wireless in a research note on Tuesday, June 24th. They set a market perform rating on the stock. Two analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $14.29.
Shares of Ruckus Wireless Inc (NASDAQ:RKUS) traded up 3.02% during mid-day trading on Wednesday, hitting $12.96. 2,730,459 shares of the company’s stock traded hands. Ruckus Wireless Inc has a 52-week low of $8.65 and a 52-week high of $18.58. The stock’s 50-day moving average is $11.57 and its 200-day moving average is $11.9. The company has a market cap of $1.063 billion and a price-to-earnings ratio of 629.00.
Ruckus Wireless (NASDAQ:RKUS) last released its earnings data on Wednesday, July 30th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.06. The company had revenue of $81.00 million for the quarter, compared to the consensus estimate of $79.40 million. During the same quarter in the previous year, the company posted $0.05 earnings per share. The company’s revenue for the quarter was up 26.8% on a year-over-year basis. Analysts expect that Ruckus Wireless Inc will post $0.22 EPS for the current fiscal year.
In other Ruckus Wireless news, CTO William S.A. Kish sold 150,000 shares of the stock on the open market in a transaction dated Thursday, July 24th. The stock was sold at an average price of $12.05, for a total transaction of $1,807,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Ruckus Wireless, Inc (NASDAQ:RKUS) is a provider of Wi-Fi solutions.
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