Analysts Anticipate Extreme Networks, Inc. (EXTR) to Post $0.14 EPS
Analysts expect that Extreme Networks, Inc. (NASDAQ:EXTR) will announce earnings of $0.14 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Extreme Networks’ earnings. The lowest EPS estimate is $0.13 and the highest is $0.15. Extreme Networks reported earnings per share of $0.07 during the same quarter last year, which indicates a positive year over year growth rate of 100%. The company is expected to report its next quarterly earnings results on Tuesday, November 7th.
According to Zacks, analysts expect that Extreme Networks will report full-year earnings of $0.65 per share for the current year, with EPS estimates ranging from $0.63 to $0.67. For the next fiscal year, analysts anticipate that the company will post earnings of $0.74 per share, with EPS estimates ranging from $0.65 to $0.83. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Extreme Networks.
Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings data on Monday, August 14th. The technology company reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.01). Extreme Networks had a negative net margin of 1.42% and a positive return on equity of 41.17%. The company had revenue of $178.70 million during the quarter, compared to the consensus estimate of $171.96 million. During the same period in the previous year, the business posted $0.10 earnings per share. The firm’s revenue was up 28.0% on a year-over-year basis.
Several research analysts recently commented on the company. ValuEngine cut Extreme Networks from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. BidaskClub raised Extreme Networks from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Zacks Investment Research raised Extreme Networks from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Friday, August 18th. Finally, Needham & Company LLC increased their price target on Extreme Networks from $12.50 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, August 15th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $11.67.
In related news, Director Kathleen M. Holmgren purchased 5,000 shares of Extreme Networks stock in a transaction that occurred on Wednesday, August 30th. The stock was purchased at an average cost of $11.49 per share, with a total value of $57,450.00. Following the completion of the transaction, the director now owns 36,662 shares of the company’s stock, valued at approximately $421,246.38. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Edward Meyercord sold 100,000 shares of the stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $10.52, for a total value of $1,052,000.00. Following the transaction, the insider now directly owns 471,653 shares of the company’s stock, valued at $4,961,789.56. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of EXTR. PNC Financial Services Group Inc. bought a new stake in Extreme Networks in the second quarter valued at approximately $101,000. BlueCrest Capital Management Ltd bought a new stake in Extreme Networks in the second quarter valued at approximately $116,000. Ameritas Investment Partners Inc. raised its stake in Extreme Networks by 13.0% in the second quarter. Ameritas Investment Partners Inc. now owns 13,584 shares of the technology company’s stock valued at $124,000 after buying an additional 1,565 shares during the period. Amalgamated Bank raised its stake in Extreme Networks by 10.9% in the second quarter. Amalgamated Bank now owns 14,049 shares of the technology company’s stock valued at $130,000 after buying an additional 1,378 shares during the period. Finally, FNY Partners Fund LP bought a new stake in Extreme Networks in the first quarter valued at approximately $112,000. 79.71% of the stock is owned by hedge funds and other institutional investors.
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Shares of Extreme Networks (NASDAQ EXTR) traded up 0.24% on Friday, hitting $12.47. The company had a trading volume of 1,440,542 shares. The firm has a 50 day moving average of $11.51 and a 200-day moving average of $9.49. The firm’s market capitalization is $1.41 billion. Extreme Networks has a 12-month low of $4.02 and a 12-month high of $13.20.
About Extreme Networks
Extreme Networks, Inc is a provider of network infrastructure equipment. The Company markets its products to business, governmental, healthcare, service provider and educational customers with a focus on corporate enterprises and metropolitan service providers on a global basis. The Company operates through the development and marketing of network infrastructure equipment segment.
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