Equities research analysts predict that Extreme Networks, Inc (NASDAQ:EXTR) will post earnings per share of $0.04 for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Extreme Networks’ earnings. Extreme Networks posted earnings of $0.20 per share in the same quarter last year, which indicates a negative year over year growth rate of 80%. The business is expected to report its next quarterly earnings results on Wednesday, August 14th.
On average, analysts expect that Extreme Networks will report full year earnings of $0.32 per share for the current year. For the next year, analysts expect that the firm will report earnings of $0.62 per share. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that follow Extreme Networks.
Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data on Wednesday, May 1st. The technology company reported $0.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.03. Extreme Networks had a negative net margin of 1.41% and a positive return on equity of 26.15%. The business had revenue of $250.90 million for the quarter, compared to analysts’ expectations of $253.49 million. During the same quarter in the previous year, the business posted $0.16 earnings per share. The business’s revenue was down 4.2% compared to the same quarter last year.
EXTR has been the topic of a number of recent analyst reports. BidaskClub lowered Extreme Networks from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. Zacks Investment Research upgraded Extreme Networks from a “sell” rating to a “hold” rating in a research note on Tuesday, June 4th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Extreme Networks currently has a consensus rating of “Hold” and a consensus price target of $9.00.
In related news, insider Edward Meyercord sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $7.67, for a total transaction of $383,500.00. Following the completion of the sale, the insider now owns 482,692 shares in the company, valued at $3,702,247.64. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.45% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Meeder Asset Management Inc. lifted its holdings in shares of Extreme Networks by 438.4% in the 1st quarter. Meeder Asset Management Inc. now owns 3,467 shares of the technology company’s stock worth $26,000 after purchasing an additional 2,823 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Extreme Networks in the 4th quarter worth approximately $25,000. PNC Financial Services Group Inc. lifted its stake in Extreme Networks by 384.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 9,292 shares of the technology company’s stock valued at $57,000 after acquiring an additional 7,372 shares during the period. CIBC Asset Management Inc acquired a new stake in Extreme Networks during the 4th quarter valued at approximately $61,000. Finally, RFG Advisory LLC acquired a new stake in Extreme Networks during the 4th quarter valued at approximately $70,000. Hedge funds and other institutional investors own 80.89% of the company’s stock.
Shares of NASDAQ EXTR traded up $0.21 during mid-day trading on Thursday, reaching $6.20. The company had a trading volume of 1,837,965 shares, compared to its average volume of 1,434,813. The stock’s 50-day moving average price is $5.90. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.10 and a current ratio of 1.29. The firm has a market cap of $736.28 million, a PE ratio of 14.09 and a beta of 1.55. Extreme Networks has a 52 week low of $4.81 and a 52 week high of $9.08.
Extreme Networks Company Profile
Extreme Networks, Inc provides software-driven networking solutions for enterprise customers worldwide. It designs, develops, and manufactures wired and wireless network infrastructure equipment; and develops the software for network management, policy, analytics, security, and access controls. The company offers edge/access Ethernet switching systems that deliver Ethernet connectivity for edge of the network; aggregation/core Ethernet switching systems for aggregation, top-of-rack, and campus core environments; data center switching systems for enterprises and cloud data centers; and wireless access point products, as well as distributed Wi-Fi networks.
See Also: What does a hold rating mean?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Extreme Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Extreme Networks and related companies with MarketBeat.com's FREE daily email newsletter.