Zacks: Brokerages Expect Quantenna Communications Inc (QTNA) Will Announce Quarterly Sales of $41.03 Million
Analysts expect Quantenna Communications Inc (NASDAQ:QTNA) to post sales of $41.03 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Quantenna Communications’ earnings, with the lowest sales estimate coming in at $41.00 million and the highest estimate coming in at $41.08 million. Quantenna Communications reported sales of $37.49 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.4%. The business is scheduled to announce its next earnings report on Monday, February 12th.
On average, analysts expect that Quantenna Communications will report full-year sales of $41.03 million for the current financial year, with estimates ranging from $176.10 million to $176.16 million. For the next fiscal year, analysts expect that the business will report sales of $216.86 million per share, with estimates ranging from $207.50 million to $232.30 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Quantenna Communications.
QTNA has been the topic of a number of research reports. Zacks Investment Research lowered shares of Quantenna Communications from a “hold” rating to a “sell” rating in a research report on Friday, November 10th. Roth Capital dropped their target price on shares of Quantenna Communications from $27.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, November 7th. Needham & Company LLC dropped their target price on shares of Quantenna Communications from $26.00 to $20.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, November 7th. ValuEngine lowered shares of Quantenna Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. Finally, Barclays lowered shares of Quantenna Communications to an “equal weight” rating in a research report on Tuesday, November 7th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $20.00.
Several large investors have recently modified their holdings of QTNA. FMR LLC boosted its stake in shares of Quantenna Communications by 88.1% in the 2nd quarter. FMR LLC now owns 984,434 shares of the technology company’s stock valued at $18,704,000 after purchasing an additional 461,023 shares in the last quarter. JHL Capital Group LLC acquired a new stake in shares of Quantenna Communications in the 2nd quarter valued at $5,700,000. Vanguard Group Inc. boosted its stake in shares of Quantenna Communications by 90.8% in the 2nd quarter. Vanguard Group Inc. now owns 611,732 shares of the technology company’s stock valued at $11,622,000 after purchasing an additional 291,167 shares in the last quarter. Point72 Europe London LLP acquired a new stake in shares of Quantenna Communications in the 2nd quarter valued at $4,979,000. Finally, Wells Fargo & Company MN boosted its stake in shares of Quantenna Communications by 90.0% in the 3rd quarter. Wells Fargo & Company MN now owns 514,295 shares of the technology company’s stock valued at $8,646,000 after purchasing an additional 243,655 shares in the last quarter. Institutional investors own 37.84% of the company’s stock.
Shares of Quantenna Communications (QTNA) traded down $0.15 during mid-day trading on Tuesday, reaching $11.80. 206,400 shares of the company were exchanged, compared to its average volume of 339,928. Quantenna Communications has a fifty-two week low of $9.60 and a fifty-two week high of $25.45. The company has a market capitalization of $420.89, a price-to-earnings ratio of 119.50 and a beta of 3.75. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.06 and a quick ratio of 3.51.
TRADEMARK VIOLATION NOTICE: This story was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another domain, it was illegally copied and reposted in violation of U.S. and international trademark & copyright law. The correct version of this story can be read at https://www.americanbankingnews.com/2017/12/12/zacks-brokerages-expect-quantenna-communications-inc-qtna-will-announce-quarterly-sales-of-41-03-million.html.
About Quantenna Communications
Quantenna Communications, Inc is engaged in the design, development and marketing of wireless communication solutions enabling wireless local area networking. The Company’s solutions are designed to deliver wireless fidelity (Wi-Fi) performance to support various connected devices accessing a pool of digital content.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Quantenna Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quantenna Communications and related companies with MarketBeat.com's FREE daily email newsletter.