NetScout Systems (NTCT) Issues Earnings Results, Beats Expectations By $0.02 EPS
NetScout Systems (NASDAQ:NTCT) posted its quarterly earnings data on Tuesday. The technology company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02, Bloomberg Earnings reports. The firm had revenue of $272.00 million during the quarter, compared to analysts’ expectations of $271.36 million. NetScout Systems had a return on equity of 5.15% and a net margin of 1.52%. The firm’s quarterly revenue was down 12.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.60 EPS. NetScout Systems updated its FY18 guidance to $1.30-1.45 EPS.
Shares of NetScout Systems (NTCT) opened at $28.30 on Wednesday. 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 company has a market capitalization of $2,470.00, a PE ratio of 157.22, a price-to-earnings-growth ratio of 2.65 and a beta of 1.60. NetScout Systems has a fifty-two week low of $25.50 and a fifty-two week high of $38.47.
Institutional investors and hedge funds have recently bought and sold shares of the business. Gilman Hill Asset Management LLC purchased a new stake in NetScout Systems in the 3rd quarter valued at about $323,000. Balyasny Asset Management LLC purchased a new stake in NetScout Systems in the 2nd quarter valued at about $5,968,000. North Star Asset Management Inc. grew its holdings in NetScout Systems by 6.0% in the 3rd quarter. North Star Asset Management Inc. now owns 199,029 shares of the technology company’s stock valued at $7,553,000 after buying an additional 11,305 shares during the period. B. Riley Financial Inc. grew its holdings in NetScout Systems by 118.2% in the 3rd quarter. B. Riley Financial Inc. now owns 38,196 shares of the technology company’s stock valued at $1,244,000 after buying an additional 20,693 shares during the period. Finally, Virtu KCG Holdings LLC grew its holdings in NetScout Systems by 24.9% in the 2nd quarter. Virtu KCG Holdings LLC now owns 17,680 shares of the technology company’s stock valued at $608,000 after buying an additional 3,526 shares during the period.
NetScout Systems announced that its board has approved a stock repurchase plan on Thursday, October 26th that allows the company to repurchase 25,000,000 shares. This repurchase authorization allows the technology company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
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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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