Zacks: Analysts Anticipate NetScout Systems, Inc. (NTCT) Will Post Quarterly Sales of $321.85 Million
Analysts expect NetScout Systems, Inc. (NASDAQ:NTCT) to post sales of $321.85 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for NetScout Systems’ earnings, with the lowest sales estimate coming in at $303.00 million and the highest estimate coming in at $343.09 million. NetScout Systems reported sales of $311.35 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.4%. The business is scheduled to announce its next earnings report on Tuesday, January 30th.
According to Zacks, analysts expect that NetScout Systems will report full year sales of $321.85 million for the current year, with estimates ranging from $1.13 billion to $1.19 billion. For the next financial year, analysts anticipate that the company will post sales of $1.22 billion per share, with estimates ranging from $1.21 billion to $1.22 billion. Zacks’ sales averages are an average based on a survey of research analysts that cover NetScout Systems.
NetScout Systems (NASDAQ:NTCT) last released its quarterly earnings data on Thursday, October 26th. The technology company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 net margin of 1.52% and a return on equity of 5.15%. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.39 EPS.
A number of research analysts have recently issued reports on NTCT shares. Zacks Investment Research lowered shares of NetScout Systems from a “buy” rating to a “sell” rating in a research note on Thursday, November 2nd. Piper Jaffray Companies started coverage on shares of NetScout Systems in a research report on Monday, November 13th. They issued an “overweight” rating and a $34.00 price objective for the company. KeyCorp reaffirmed a “hold” rating on shares of NetScout Systems in a research report on Wednesday, October 11th. Craig Hallum dropped their price target on shares of NetScout Systems from $30.00 to $28.00 and set a “hold” rating for the company in a research report on Thursday, October 26th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $33.00 price target on shares of NetScout Systems in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. NetScout Systems currently has a consensus rating of “Hold” and a consensus price target of $33.20.
Shares of NetScout Systems (NASDAQ:NTCT) traded down $0.05 during trading hours on Monday, reaching $31.25. 334,700 shares of the company traded hands, compared to its average volume of 470,775. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.60 and a quick ratio of 1.51. The firm has a market cap of $2,723.16, a price-to-earnings ratio of 183.83, a P/E/G ratio of 1.87 and a beta of 1.60. NetScout Systems has a 12-month low of $27.65 and a 12-month high of $38.47.
NetScout Systems declared that its Board of Directors has authorized a stock repurchase plan on Thursday, October 26th that permits the company to repurchase 25,000,000 shares. This repurchase authorization permits the technology company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
In other news, EVP John Downing sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $28.17, for a total value of $84,510.00. Following the transaction, the executive vice president now directly owns 88,821 shares in the company, valued at approximately $2,502,087.57. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael Szabados sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $28.19, for a total transaction of $140,950.00. Following the completion of the transaction, the insider now owns 43,424 shares in the company, valued at $1,224,122.56. The disclosure for this sale can be found here. 3.51% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. Gilman Hill Asset Management LLC acquired a new stake in shares of NetScout Systems in the 3rd quarter worth about $323,000. Balyasny Asset Management LLC acquired a new position in NetScout Systems during the 2nd quarter valued at about $5,968,000. North Star Asset Management Inc. increased its stake in NetScout Systems by 6.0% during 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. increased its stake in NetScout Systems by 118.2% during 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, Eagle Asset Management Inc. increased its stake in NetScout Systems by 3.9% during the 2nd quarter. Eagle Asset Management Inc. now owns 87,870 shares of the technology company’s stock valued at $3,022,000 after buying an additional 3,268 shares during the period.
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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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