Zacks: Brokerages Anticipate Sierra Wireless, Inc. (SWIR) Will Announce Quarterly Sales of $169.97 Million
Wall Street brokerages expect Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) to announce sales of $169.97 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Sierra Wireless’ earnings. The lowest sales estimate is $169.2 million and the highest is $171 million. Sierra Wireless reported sales of $156.23 million in the same quarter last year, which would suggest a positive year over year growth rate of 8.8%. The business is scheduled to announce its next earnings results on Thursday, August 3rd.
According to Zacks, analysts expect that Sierra Wireless will report full-year sales of $169.97 million for the current year, with estimates ranging from $674.7 million to $684.8 million. For the next year, analysts forecast that the business will report sales of $749.27 million per share, with estimates ranging from $715.6 million to $773.3 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Sierra Wireless.
Several equities research analysts have commented on the company. Canaccord Genuity restated a “buy” rating on shares of Sierra Wireless in a research note on Friday, February 10th. TheStreet upgraded Sierra Wireless from a “c-” rating to a “b-” rating in a research note on Thursday, February 9th. BMO Capital Markets set a $30.00 target price on Sierra Wireless and gave the company a “hold” rating in a research note on Saturday, May 6th. Raymond James Financial, Inc. cut Sierra Wireless from an “outperform” rating to a “mkt perform” rating in a research note on Tuesday, March 28th. Finally, Jefferies Group LLC boosted their target price on Sierra Wireless to $21.00 and gave the company a “positive” rating in a research note on Friday, February 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $25.22.
Shares of Sierra Wireless (NASDAQ:SWIR) opened at 28.10 on Friday. Sierra Wireless has a 52-week low of $12.30 and a 52-week high of $30.60. The stock has a market capitalization of $896.81 million, a price-to-earnings ratio of 62.17 and a beta of 1.90. The stock has a 50 day moving average of $26.33 and a 200-day moving average of $21.05.
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Large investors have recently made changes to their positions in the company. UBS Group AG boosted its stake in shares of Sierra Wireless by 3.7% in the first quarter. UBS Group AG now owns 12,429 shares of the communications equipment provider’s stock worth $330,000 after buying an additional 447 shares in the last quarter. Cutter & CO Brokerage Inc. boosted its stake in shares of Sierra Wireless by 9.2% in the first quarter. Cutter & CO Brokerage Inc. now owns 16,755 shares of the communications equipment provider’s stock worth $445,000 after buying an additional 1,405 shares in the last quarter. WealthTrust Axiom LLC boosted its stake in shares of Sierra Wireless by 14.1% in the first quarter. WealthTrust Axiom LLC now owns 12,140 shares of the communications equipment provider’s stock worth $322,000 after buying an additional 1,500 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Sierra Wireless by 85.7% in the first quarter. Legal & General Group Plc now owns 3,900 shares of the communications equipment provider’s stock worth $103,000 after buying an additional 1,800 shares in the last quarter. Finally, NEXT Financial Group Inc boosted its stake in shares of Sierra Wireless by 21.6% in the first quarter. NEXT Financial Group Inc now owns 11,362 shares of the communications equipment provider’s stock worth $287,000 after buying an additional 2,015 shares in the last quarter. Institutional investors own 22.27% of the company’s stock.
Sierra Wireless Company Profile
Sierra Wireless, Inc is engaged in building the Internet of Things (IoT) with wireless solutions for organizations. The Company’s OEM Solution segment offers cellular embedded wireless modules for IoT connectivity, including an embedded application framework to support customer applications. The Company’s Enterprise Solution segment offers intelligent routers and gateways, including management tools and applications that enable cellular connectivity.
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