$169.97 Million in Sales Expected for Sierra Wireless, Inc. (SWIR) This Quarter
Equities research analysts predict that Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) will announce $169.97 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Sierra Wireless’ earnings. The highest sales estimate is $171.00 million and the lowest is $169.20 million. Sierra Wireless posted sales of $156.23 million in the same quarter last year, which suggests a positive year-over-year growth rate of 8.8%. The business is expected to report its next quarterly earnings results after the market closes on Thursday, August 3rd.
On average, analysts expect that Sierra Wireless will report full year sales of $169.97 million for the current fiscal year, with estimates ranging from $674.70 million to $684.80 million. For the next fiscal year, analysts anticipate that the firm will report sales of $749.27 million per share, with estimates ranging from $715.60 million to $773.30 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Sierra Wireless.
Several research analysts have recently issued reports on SWIR shares. Zacks Investment Research raised Sierra Wireless from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research note on Thursday, May 11th. Scotiabank increased their price target on Sierra Wireless from $20.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Friday, May 5th. Royal Bank Of Canada raised their target price on Sierra Wireless from $19.00 to $25.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 3rd. First Analysis reaffirmed an “overweight” rating and set a $30.00 target price (up previously from $27.00) on shares of Sierra Wireless in a research note on Wednesday, April 5th. Finally, TheStreet cut Sierra Wireless from a “b-” rating to a “c” rating in a research note on Thursday, May 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. Sierra Wireless currently has a consensus rating of “Hold” and a consensus target price of $25.22.
Shares of Sierra Wireless (SWIR) traded up 1.837% during midday trading on Friday, hitting $28.107. 231,172 shares of the company’s stock traded hands. The stock has a market cap of $897.04 million, a P/E ratio of 62.184 and a beta of 3.03. Sierra Wireless has a 52 week low of $12.30 and a 52 week high of $31.95. The company has a 50 day moving average of $28.38 and a 200 day moving average of $24.27.
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Large investors have recently made changes to their positions in the stock. Legal & General Group Plc increased 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 valued at $103,000 after buying an additional 1,800 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Sierra Wireless during the first quarter valued at approximately $147,000. HighTower Advisors LLC bought a new stake in shares of Sierra Wireless during the first quarter valued at approximately $200,000. Global X Management Co. LLC increased its stake in shares of Sierra Wireless by 376.8% in the first quarter. Global X Management Co. LLC now owns 9,379 shares of the communications equipment provider’s stock valued at $248,000 after buying an additional 7,412 shares in the last quarter. Finally, American Century Companies Inc. bought a new stake in shares of Sierra Wireless during the first quarter valued at approximately $267,000. 24.37% of the stock is owned by institutional investors and hedge funds.
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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