NETGEAR (NTGR) Set to Announce Quarterly Earnings on Wednesday

NETGEAR (NASDAQ:NTGR) is set to issue its quarterly earnings data after the market closes on Wednesday, May 1st. Analysts expect the company to announce earnings of ($0.27) per share for the quarter. NETGEAR has set its Q1 2024 guidance at EPS.Investors that are interested in participating in the company’s conference call can do so using this link.

NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings data on Wednesday, February 7th. The communications equipment provider reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.04. The firm had revenue of $188.67 million during the quarter, compared to analysts’ expectations of $185.14 million. NETGEAR had a negative return on equity of 2.96% and a negative net margin of 14.14%. The company’s revenue for the quarter was down 24.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.21) EPS. On average, analysts expect NETGEAR to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

NETGEAR Price Performance

Shares of NASDAQ NTGR opened at $14.86 on Tuesday. The stock’s 50-day moving average is $14.91 and its 200 day moving average is $14.04. NETGEAR has a 1-year low of $10.40 and a 1-year high of $15.93.

Wall Street Analyst Weigh In

Separately, BWS Financial reissued a “buy” rating and set a $30.00 price target on shares of NETGEAR in a research note on Wednesday, April 10th.

Insider Buying and Selling at NETGEAR

In other news, SVP Vikram Mehta sold 1,844 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $14.48, for a total value of $26,701.12. Following the completion of the sale, the senior vice president now owns 25,569 shares of the company’s stock, valued at approximately $370,239.12. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, SVP Vikram Mehta sold 1,844 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $14.48, for a total value of $26,701.12. Following the transaction, the senior vice president now owns 25,569 shares in the company, valued at $370,239.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew Wonki Kim sold 5,889 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $14.50, for a total transaction of $85,390.50. Following the sale, the insider now owns 88,001 shares of the company’s stock, valued at $1,276,014.50. The disclosure for this sale can be found here. Insiders sold a total of 13,456 shares of company stock worth $195,304 over the last three months. Company insiders own 7.00% of the company’s stock.

About NETGEAR

NETGEAR, Inc provides connectivity solutions the Americas; Europe, the Middle East, Africa; and the Asia Pacific. The company operates in two segments, Connected Home, and NETGEAR for Business. The Connected Home segment offers Wi-Fi routers and home Wi-Fi mesh systems, Wi-Fi hotspots, digital displays, broadband modems, Wi-Fi gateways, Wi-Fi range extenders, powerline adapters, and Wi-Fi network adapters; and provides value-added service offerings, including security and privacy, technical support, and parental controls.