NETGEAR (NASDAQ:NTGR) Issues Quarterly Earnings Results, Beats Estimates By $0.18 EPS

NETGEAR (NASDAQ:NTGR) issued its quarterly earnings results on Wednesday. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.18, FiscalAI reports. The firm had revenue of $167.35 million for the quarter, compared to analyst estimates of $170.00 million. NETGEAR had a negative return on equity of 2.79% and a negative net margin of 3.71%.

NETGEAR Trading Up 2.3%

Shares of NETGEAR stock traded up $0.50 during midday trading on Wednesday, reaching $22.32. The company had a trading volume of 561,603 shares, compared to its average volume of 426,518. The stock has a fifty day simple moving average of $22.26 and a 200 day simple moving average of $22.95. NETGEAR has a 1-year low of $19.00 and a 1-year high of $30.46. The company has a market capitalization of $606.66 million, a price-to-earnings ratio of -24.00 and a beta of 1.22.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NTGR. Stifel Nicolaus reduced their price objective on NETGEAR from $36.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, October 5th. Weiss Ratings restated a “sell (d)” rating on shares of NETGEAR in a research report on Monday, September 21st. Finally, Wall Street Zen upgraded NETGEAR from a “sell” rating to a “hold” rating in a research note on Sunday, September 6th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $30.00.

NETGEAR Company Profile

NETGEAR, Inc develops and sells networking products and connected technology for consumers, small and medium-sized businesses, and service providers. Its portfolio includes wireless routers, mesh Wi-Fi systems, cable and 5G modems, Wi-Fi extenders, network switches, wireless access points, and related connectivity products.

The company markets consumer products under brands such as Nighthawk and Orbi, while its business-oriented offerings include managed networking, switching, wireless access points, and cloud-based network management through the NETGEAR Insight platform.