$63.59 Million in Sales Expected for Control4 Corporation (CTRL) This Quarter
Wall Street analysts predict that Control4 Corporation (NASDAQ:CTRL) will announce $63.59 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Control4 Corporation’s earnings. The highest sales estimate is $63.72 million and the lowest is $63.46 million. Control4 Corporation reported sales of $55.19 million in the same quarter last year, which indicates a positive year over year growth rate of 15.2%. The business is scheduled to issue its next quarterly earnings report after the market closes on Thursday, November 2nd.
According to Zacks, analysts expect that Control4 Corporation will report full year sales of $63.59 million for the current financial year, with estimates ranging from $242.11 million to $242.80 million. For the next year, analysts expect that the business will report sales of $275.06 million per share, with estimates ranging from $271.94 million to $278.19 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Control4 Corporation.
Control4 Corporation (NASDAQ:CTRL) last issued its earnings results on Thursday, August 3rd. The electronics maker reported $0.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.09. Control4 Corporation had a return on equity of 10.77% and a net margin of 4.70%. The firm had revenue of $61.40 million for the quarter, compared to analysts’ expectations of $60.70 million. During the same quarter last year, the firm earned $0.23 earnings per share. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year.
A number of equities analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Control4 Corporation from a “buy” rating to a “hold” rating in a research note on Monday, October 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $27.00 price target (up from $25.00) on shares of Control4 Corporation in a research note on Monday, September 11th. Cowen and Company raised shares of Control4 Corporation from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $22.00 to $30.00 in a research note on Friday, September 8th. Finally, BidaskClub downgraded shares of Control4 Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 22nd. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $21.88.
In other Control4 Corporation news, SVP Susan Cashen sold 1,768 shares of the company’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $22.87, for a total transaction of $40,434.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Greg Bishop sold 2,254 shares of the company’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $22.83, for a total transaction of $51,458.82. Following the sale, the insider now owns 14,295 shares of the company’s stock, valued at $326,354.85. The disclosure for this sale can be found here. Insiders sold 8,546 shares of company stock valued at $194,603 over the last quarter. 6.10% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in CTRL. Legal & General Group Plc boosted its holdings in Control4 Corporation by 11.7% during the second quarter. Legal & General Group Plc now owns 5,506 shares of the electronics maker’s stock valued at $107,000 after acquiring an additional 577 shares during the period. UBS Group AG boosted its holdings in Control4 Corporation by 6.3% during the first quarter. UBS Group AG now owns 7,727 shares of the electronics maker’s stock valued at $122,000 after acquiring an additional 458 shares during the period. Victory Capital Management Inc. bought a new stake in Control4 Corporation during the third quarter valued at about $130,000. American International Group Inc. boosted its holdings in Control4 Corporation by 7.1% during the first quarter. American International Group Inc. now owns 12,377 shares of the electronics maker’s stock valued at $195,000 after acquiring an additional 822 shares during the period. Finally, Voya Investment Management LLC bought a new stake in Control4 Corporation during the second quarter valued at about $213,000. Institutional investors own 74.37% of the company’s stock.
Control4 Corporation (NASDAQ CTRL) opened at 28.65 on Monday. The company has a 50-day moving average price of $28.72 and a 200-day moving average price of $22.58. The firm has a market cap of $712.10 million, a PE ratio of 69.88 and a beta of -0.58. Control4 Corporation has a one year low of $9.97 and a one year high of $30.83.
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About Control4 Corporation
Control4 Corporation (Control4) is a provider of smart home and business solutions. The Company’s smart home and small business solutions provide consumers with the ability to integrate audio, video, lighting, temperature, security, communications, network management and other functionalities into a unified automation solution, customized to match their lifestyles and business needs.
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