Zacks: Analysts Expect Extreme Networks, Inc. (NASDAQ:EXTR) Will Announce Earnings of $0.12 Per Share
Analysts expect Extreme Networks, Inc. (NASDAQ:EXTR) to post earnings of $0.12 per share for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Extreme Networks’ earnings. The lowest EPS estimate is $0.11 and the highest is $0.13. Extreme Networks reported earnings of $0.07 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 71.4%. The business is scheduled to announce its next quarterly earnings results after the market closes on Monday, August 14th.
According to Zacks, analysts expect that Extreme Networks will report full-year earnings of $0.29 per share for the current financial year, with EPS estimates ranging from $0.28 to $0.29. For the next financial year, analysts expect that the firm will post earnings of $0.28 per share. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Extreme Networks.
Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data on Wednesday, May 3rd. The technology company reported $0.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.03. Extreme Networks had a positive return on equity of 33.40% and a negative net margin of 4.12%. The firm had revenue of $148.70 million during the quarter, compared to the consensus estimate of $155.89 million. During the same period in the prior year, the company earned $0.03 EPS. The firm’s revenue was up 18.7% compared to the same quarter last year.
Several equities analysts recently issued reports on EXTR shares. Needham & Company LLC reaffirmed a “buy” rating and set a $12.50 price objective (up from $9.50) on shares of Extreme Networks in a report on Friday, June 2nd. DA Davidson lifted their price objective on Extreme Networks from $7.50 to $10.00 and gave the stock a “buy” rating in a report on Thursday, March 30th. Zacks Investment Research cut Extreme Networks from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Finally, BidaskClub cut Extreme Networks from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $8.10.
Extreme Networks (NASDAQ:EXTR) opened at 9.38 on Wednesday. The company has a 50-day moving average price of $9.76 and a 200 day moving average price of $7.70. The firm’s market capitalization is $1.03 billion. Extreme Networks has a 1-year low of $3.70 and a 1-year high of $11.03.
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In other news, insider Edward Meyercord sold 65,000 shares of the business’s stock in a transaction on Monday, June 26th. The stock was sold at an average price of $10.10, for a total value of $656,500.00. Following the completion of the transaction, the insider now directly owns 563,034 shares of the company’s stock, valued at $5,686,643.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.91% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. FNY Partners Fund LP bought a new position in Extreme Networks during the first quarter worth $112,000. Bank of Montreal Can boosted its position in Extreme Networks by 3,689.4% in the first quarter. Bank of Montreal Can now owns 15,006 shares of the technology company’s stock worth $113,000 after buying an additional 14,610 shares during the period. Allianz Asset Management AG boosted its position in Extreme Networks by 142.7% in the fourth quarter. Allianz Asset Management AG now owns 24,600 shares of the technology company’s stock worth $124,000 after buying an additional 14,465 shares during the period. Bank of America Corp DE boosted its position in Extreme Networks by 29.0% in the first quarter. Bank of America Corp DE now owns 18,318 shares of the technology company’s stock worth $138,000 after buying an additional 4,118 shares during the period. Finally, Cornerstone Financial Partners LLC bought a new position in Extreme Networks during the second quarter worth $148,000. 82.93% of the stock is owned by institutional investors.
Extreme Networks Company Profile
Extreme Networks, Inc is a provider of network infrastructure equipment. The Company markets its products to business, governmental, healthcare, service provider and educational customers with a focus on corporate enterprises and metropolitan service providers on a global basis. The Company operates through the development and marketing of network infrastructure equipment segment.
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