NetGear (NTGR) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

NetGear (NASDAQ:NTGR) released its quarterly earnings data on Tuesday. The communications equipment provider reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.07, Bloomberg Earnings reports. The firm had revenue of $397.06 million during the quarter, compared to the consensus estimate of $393.27 million. NetGear had a return on equity of 10.57% and a net margin of 5.33%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.88 earnings per share.

NetGear (NTGR) opened at $67.40 on Wednesday. NetGear has a 52 week low of $41.50 and a 52 week high of $71.42. The stock has a market capitalization of $2,139.96, a PE ratio of 30.64 and a beta of 1.79.

Several research firms recently weighed in on NTGR. Zacks Investment Research upgraded NetGear from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Wednesday, January 10th. BidaskClub upgraded NetGear from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 13th. Raymond James Financial upgraded NetGear from a “market perform” rating to an “outperform” rating and set a $62.00 target price on the stock in a research note on Monday, December 18th. Finally, BWS Financial set a $75.00 target price on NetGear and gave the company a “buy” rating in a research note on Friday, January 12th. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the stock. NetGear currently has a consensus rating of “Buy” and an average target price of $65.20.

In other NetGear news, SVP Patrick J. Collins III sold 8,704 shares of NetGear stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $49.02, for a total value of $426,670.08. Following the transaction, the senior vice president now owns 19,807 shares in the company, valued at $970,939.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Patrick J. Collins III sold 416 shares of NetGear stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $71.00, for a total value of $29,536.00. Following the completion of the transaction, the senior vice president now owns 34,612 shares in the company, valued at approximately $2,457,452. The disclosure for this sale can be found here. Insiders sold 76,500 shares of company stock worth $4,409,047 in the last quarter. 6.20% of the stock is owned by insiders.

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About NetGear

NETGEAR, Inc designs, develops and markets networking solutions and smart connected products for consumers, businesses and service providers. The Company’s product line consists of devices, such as network attached storage, Internet protocol (IP) security cameras, and home automation devices and services.

Earnings History for NetGear (NASDAQ:NTGR)

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