$347.38 Million in Sales Expected for National Instruments Corporation (NATI) This Quarter
Brokerages predict that National Instruments Corporation (NASDAQ:NATI) will announce $347.38 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for National Instruments Corporation’s earnings, with the highest sales estimate coming in at $349.58 million and the lowest estimate coming in at $344.55 million. National Instruments Corporation reported sales of $328.53 million in the same quarter last year, which indicates a positive year-over-year growth rate of 5.7%. The business is expected to announce its next quarterly earnings results on Thursday, January 25th.
According to Zacks, analysts expect that National Instruments Corporation will report full year sales of $347.38 million for the current fiscal year, with estimates ranging from $1.28 billion to $1.29 billion. For the next fiscal year, analysts expect that the company will post sales of $1.37 billion per share, with estimates ranging from $1.35 billion to $1.39 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover National Instruments Corporation.
National Instruments Corporation (NASDAQ:NATI) last announced its earnings results on Thursday, October 26th. The technology company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.23 by $0.02. The company had revenue of $320.90 million during the quarter, compared to analysts’ expectations of $319.78 million. National Instruments Corporation had a net margin of 8.72% and a return on equity of 10.16%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the company posted $0.25 earnings per share.
A number of research firms have recently weighed in on NATI. Stifel Nicolaus reissued a “buy” rating and issued a $46.00 price objective on shares of National Instruments Corporation in a research report on Sunday, July 30th. Zacks Investment Research downgraded shares of National Instruments Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, September 28th. Finally, BidaskClub downgraded shares of National Instruments Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $40.25.
Shares of National Instruments Corporation (NASDAQ:NATI) traded down $0.09 on Friday, reaching $44.70. 1,048,887 shares of the company traded hands, compared to its average volume of 695,210. The company has a market capitalization of $5,844.30, a price-to-earnings ratio of 50.80 and a beta of 0.94. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.53 and a current ratio of 3.22. National Instruments Corporation has a 52-week low of $27.08 and a 52-week high of $46.33.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 4th. Shareholders of record on Monday, November 13th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, November 10th. This represents a $0.84 dividend on an annualized basis and a yield of 1.88%. National Instruments Corporation’s dividend payout ratio is currently 100.00%.
In related news, Director Jeffrey L. Kodosky sold 2,000 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $40.08, for a total value of $80,160.00. Following the sale, the director now owns 382,771 shares in the company, valued at approximately $15,341,461.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James J. Truchard sold 985,162 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $43.66, for a total value of $43,012,172.92. Following the completion of the transaction, the director now directly owns 8,345,037 shares in the company, valued at $364,344,315.42. The disclosure for this sale can be found here. Insiders sold 1,055,162 shares of company stock valued at $45,957,583 over the last ninety days. 9.92% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of NATI. Westwood Holdings Group Inc. acquired a new stake in National Instruments Corporation in the second quarter valued at approximately $139,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in National Instruments Corporation by 6.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,058 shares of the technology company’s stock worth $163,000 after acquiring an additional 241 shares during the period. JPMorgan Chase & Co. raised its stake in shares of National Instruments Corporation by 21.5% in the first quarter. JPMorgan Chase & Co. now owns 4,845 shares of the technology company’s stock valued at $158,000 after buying an additional 858 shares during the period. Nwam LLC bought a new stake in shares of National Instruments Corporation in the second quarter valued at $215,000. Finally, Cullen Frost Bankers Inc. bought a new stake in shares of National Instruments Corporation during the 2nd quarter valued at $218,000. Institutional investors own 80.60% of the company’s stock.
About National Instruments Corporation
National Instruments Corporation (NI) designs, manufactures and sells systems to engineers and scientists. The Company offers a line of measurement, automation and control products. It offers products, technology and services, which include system design software, programming tools, application software, modular hardware products and related driver software, production test systems, NI education platform, software products for teaching and hardware products for teaching.
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