NetScout Systems, Inc. (NTCT) Expected to Post Earnings of $0.65 Per Share
Equities research analysts predict that NetScout Systems, Inc. (NASDAQ:NTCT) will announce earnings of $0.65 per share for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for NetScout Systems’ earnings, with the lowest EPS estimate coming in at $0.60 and the highest estimate coming in at $0.70. NetScout Systems reported earnings per share of $0.60 during the same quarter last year, which suggests a positive year-over-year growth rate of 8.3%. The company is scheduled to report its next quarterly earnings report on Tuesday, January 30th.
According to Zacks, analysts expect that NetScout Systems will report full-year earnings of $1.98 per share for the current financial year, with EPS estimates ranging from $1.75 to $2.11. For the next year, analysts expect that the business will post earnings of $2.21 per share, with EPS estimates ranging from $2.17 to $2.26. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow NetScout Systems.
NetScout Systems (NASDAQ:NTCT) last announced its quarterly earnings data on Thursday, October 26th. The technology company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.03. The business had revenue of $256.90 million during the quarter, compared to analysts’ expectations of $251.13 million. NetScout Systems had a return on equity of 5.15% and a net margin of 1.52%. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.39 EPS.
Several equities analysts have recently issued reports on NTCT shares. Zacks Investment Research upgraded NetScout Systems from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Thursday, October 26th. B. Riley reissued a “buy” rating and set a $44.00 target price on shares of NetScout Systems in a research report on Friday, July 28th. Craig Hallum cut their target price on NetScout Systems from $30.00 to $28.00 and set a “hold” rating on the stock in a research report on Thursday, October 26th. BidaskClub raised NetScout Systems from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Finally, Royal Bank Of Canada reissued a “hold” rating on shares of NetScout Systems in a research report on Thursday, July 20th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $33.20.
Shares of NetScout Systems (NASDAQ:NTCT) traded up $0.75 on Tuesday, hitting $29.85. The stock had a trading volume of 717,400 shares, compared to its average volume of 752,791. The company has a quick ratio of 1.51, a current ratio of 1.60 and a debt-to-equity ratio of 0.14. The stock has a market cap of $2,535.80, a PE ratio of 22.05, a PEG ratio of 1.74 and a beta of 1.57. NetScout Systems has a fifty-two week low of $27.65 and a fifty-two week high of $38.47.
NetScout Systems declared that its board has approved a stock repurchase program on Thursday, October 26th that permits the company to buyback 25,000,000 outstanding shares. This buyback authorization permits the technology company to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
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In other NetScout Systems news, EVP John Downing sold 3,000 shares of NetScout Systems stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $28.17, for a total transaction of $84,510.00. Following the transaction, the executive vice president now owns 88,821 shares of the company’s stock, valued at $2,502,087.57. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Michael Szabados sold 5,000 shares of NetScout Systems stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $28.19, for a total value of $140,950.00. Following the transaction, the insider now directly owns 43,424 shares in the company, valued at approximately $1,224,122.56. The disclosure for this sale can be found here. Insiders own 3.51% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Seven Bridges Advisors LLC purchased a new position in shares of NetScout Systems in the 2nd quarter valued at approximately $109,000. Bank of Montreal Can grew its stake in shares of NetScout Systems by 8.9% in the 2nd quarter. Bank of Montreal Can now owns 3,311 shares of the technology company’s stock valued at $113,000 after purchasing an additional 271 shares during the last quarter. Flinton Capital Management LLC grew its stake in shares of NetScout Systems by 74.5% in the 2nd quarter. Flinton Capital Management LLC now owns 4,608 shares of the technology company’s stock valued at $158,000 after purchasing an additional 1,968 shares during the last quarter. Riverhead Capital Management LLC grew its stake in shares of NetScout Systems by 77.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,158 shares of the technology company’s stock valued at $177,000 after purchasing an additional 2,258 shares during the last quarter. Finally, First Allied Advisory Services Inc. grew its stake in shares of NetScout Systems by 515.1% in the 2nd quarter. First Allied Advisory Services Inc. now owns 5,911 shares of the technology company’s stock valued at $200,000 after purchasing an additional 4,950 shares during the last quarter.
NetScout Systems Company Profile
NetScout Systems, Inc (NetScout) provides operational intelligence and performance analytics for service assurance and cyber security solutions. The Company’s solutions are used in various service provider, enterprise and government networks. Its nGenius and Infinistream technologies, along with certain product lines from the acquired businesses, enable information technology (IT) organizations to manage service delivery quality, and identify and address business service performance issues and security threats.
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