Equities research analysts expect Extreme Networks, Inc (NASDAQ:EXTR) to post $0.14 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Extreme Networks’ earnings. Extreme Networks reported earnings per share of $0.13 in the same quarter last year, which would indicate a positive year-over-year growth rate of 7.7%. The firm is expected to report its next quarterly earnings results on Tuesday, February 4th.
On average, analysts expect that Extreme Networks will report full year earnings of $0.60 per share for the current year. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Extreme Networks.
Extreme Networks (NASDAQ:EXTR) last posted its earnings results on Wednesday, October 30th. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.05. Extreme Networks had a positive return on equity of 10.49% and a negative net margin of 5.39%. The company had revenue of $255.51 million during the quarter, compared to analysts’ expectations of $253.26 million. During the same quarter last year, the firm earned $0.08 earnings per share. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year.
Several brokerages have weighed in on EXTR. ValuEngine raised shares of Extreme Networks from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Zacks Investment Research downgraded shares of Extreme Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, BidaskClub lowered shares of Extreme Networks from a “buy” rating to a “hold” rating in a report on Friday, September 20th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Extreme Networks currently has an average rating of “Hold” and an average target price of $10.00.
In related news, CRO Robert J. Gault sold 39,584 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $7.73, for a total transaction of $305,984.32. Following the completion of the transaction, the executive now directly owns 294,797 shares in the company, valued at approximately $2,278,780.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.62% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. FMR LLC increased its position in shares of Extreme Networks by 7.6% during the first quarter. FMR LLC now owns 3,623,714 shares of the technology company’s stock worth $27,142,000 after acquiring an additional 255,096 shares during the period. Hennessy Advisors Inc. acquired a new stake in shares of Extreme Networks in the second quarter valued at $87,000. Mesirow Financial Investment Management Inc. boosted its holdings in Extreme Networks by 38.2% in the second quarter. Mesirow Financial Investment Management Inc. now owns 69,408 shares of the technology company’s stock valued at $448,000 after purchasing an additional 19,187 shares during the period. Fox Run Management L.L.C. purchased a new position in Extreme Networks in the second quarter valued at $110,000. Finally, Arizona State Retirement System boosted its holdings in Extreme Networks by 2.3% in the second quarter. Arizona State Retirement System now owns 184,214 shares of the technology company’s stock valued at $1,192,000 after purchasing an additional 4,096 shares during the period. 81.09% of the stock is owned by institutional investors.
EXTR traded down $0.16 on Tuesday, hitting $6.78. The company had a trading volume of 1,432,597 shares, compared to its average volume of 1,314,144. The company’s fifty day moving average price is $6.93 and its 200 day moving average price is $6.83. Extreme Networks has a 1 year low of $5.09 and a 1 year high of $8.59. The company has a current ratio of 1.06, a quick ratio of 0.86 and a debt-to-equity ratio of 4.42. The firm has a market cap of $854.61 million, a P/E ratio of 52.15 and a beta of 1.68.
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.
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