NetScout Systems, Inc. Expected to Earn Q3 2018 Earnings of $0.60 Per Share (NTCT)
NetScout Systems, Inc. (NASDAQ:NTCT) – Equities research analysts at DA Davidson lifted their Q3 2018 EPS estimates for shares of NetScout Systems in a report issued on Monday. DA Davidson analyst M. Kelleher now forecasts that the technology company will post earnings per share of $0.60 for the quarter, up from their prior forecast of $0.55. DA Davidson also issued estimates for NetScout Systems’ Q4 2018 earnings at $0.79 EPS.
NetScout Systems (NASDAQ:NTCT) last posted its earnings results on Thursday, July 27th. The technology company reported $0.08 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.08. NetScout Systems had a net margin of 1.60% and a return on equity of 5.53%. The firm had revenue of $225.80 million for the quarter, compared to analyst estimates of $225.66 million. During the same period in the previous year, the firm posted $0.28 EPS. The company’s revenue for the quarter was down 16.1% compared to the same quarter last year.
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Other research analysts also recently issued reports about the stock. B. Riley reissued a “buy” rating and set a $44.00 price target on shares of NetScout Systems in a research note on Wednesday, August 2nd. BidaskClub raised shares of NetScout Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Royal Bank Of Canada reissued a “hold” rating on shares of NetScout Systems in a research note on Thursday, July 20th. Finally, Zacks Investment Research downgraded shares of NetScout Systems from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $39.50.
NetScout Systems (NASDAQ:NTCT) traded up 0.64% during midday trading on Tuesday, reaching $31.25. 543,638 shares of the company’s stock were exchanged. The stock has a market cap of $2.80 billion, a PE ratio of 158.63 and a beta of 1.60. The firm has a 50 day moving average of $32.40 and a 200-day moving average of $34.40. NetScout Systems has a 12 month low of $26.25 and a 12 month high of $38.47.
In related news, insider Michael Szabados sold 5,000 shares of NetScout Systems stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $34.60, for a total value of $173,000.00. Following the transaction, the insider now directly owns 39,170 shares of the company’s stock, valued at $1,355,282. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.51% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Airain ltd purchased a new position in shares of NetScout Systems in the second quarter worth $1,239,000. Balyasny Asset Management LLC purchased a new position in shares of NetScout Systems in the second quarter worth $5,968,000. Credit Suisse AG increased its stake in shares of NetScout Systems by 666.0% in the first quarter. Credit Suisse AG now owns 694,890 shares of the technology company’s stock worth $26,371,000 after buying an additional 604,179 shares during the period. Thrivent Financial For Lutherans increased its stake in shares of NetScout Systems by 11.8% in the first quarter. Thrivent Financial For Lutherans now owns 17,250 shares of the technology company’s stock worth $655,000 after buying an additional 1,820 shares during the period. Finally, Eagle Asset Management Inc. increased its stake in shares of NetScout Systems by 3.9% in the second quarter. Eagle Asset Management Inc. now owns 87,870 shares of the technology company’s stock worth $3,022,000 after buying an additional 3,268 shares during the period.
About NetScout Systems
NetScout Systems, Inc (NetScout) provides operational intelligence and performance analytics for service assurance and cyber security solutions. The Company’s solutions are used in various service provider, enterprise and government networks. Its nGenius and Infinistream technologies, along with certain product lines from the acquired businesses, enable information technology (IT) organizations to manage service delivery quality, and identify and address business service performance issues and security threats.
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