Analysts Anticipate Extreme Networks, Inc. (NASDAQ:EXTR) Will Announce Earnings of $0.11 Per Share


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Brokerages expect Extreme Networks, Inc. (NASDAQ:EXTR) to announce earnings per share (EPS) of $0.11 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Extreme Networks’ earnings, with estimates ranging from $0.10 to $0.12. Extreme Networks posted earnings of $0.13 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 15.4%. The firm is expected to report its next quarterly earnings report before the market opens on Wednesday, January 27th.

On average, analysts expect that Extreme Networks will report full year earnings of $0.40 per share for the current financial year, with EPS estimates ranging from $0.35 to $0.47. For the next fiscal year, analysts anticipate that the company will report earnings of $0.54 per share, with EPS estimates ranging from $0.48 to $0.58. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Extreme Networks.

Extreme Networks (NASDAQ:EXTR) last posted its earnings results on Wednesday, October 28th. The technology company reported $0.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.03. Extreme Networks had a negative net margin of 10.55% and a negative return on equity of 114.29%. The company had revenue of $235.80 million for the quarter, compared to analysts’ expectations of $234.70 million.

A number of equities research analysts recently commented on the stock. Zacks Investment Research raised shares of Extreme Networks from a “sell” rating to a “hold” rating in a research note on Tuesday, January 5th. B. Riley upped their target price on Extreme Networks from $9.00 to $9.50 in a report on Friday, October 9th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Extreme Networks presently has a consensus rating of “Buy” and an average target price of $6.30.

Extreme Networks stock traded up $0.16 during trading on Monday, hitting $7.83. The stock had a trading volume of 20,468 shares, compared to its average volume of 872,848. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 33.85. Extreme Networks has a 1 year low of $1.43 and a 1 year high of $8.00. The stock’s 50 day moving average is $6.69 and its two-hundred day moving average is $5.01. The stock has a market cap of $963.19 million, a price-to-earnings ratio of -9.35 and a beta of 2.11.

In other news, CFO Remi Thomas sold 23,000 shares of the stock in a transaction dated Monday, December 14th. The stock was sold at an average price of $6.50, for a total transaction of $149,500.00. Also, Director Raj Khanna acquired 10,000 shares of Extreme Networks stock in a transaction dated Friday, November 6th. The shares were purchased at an average price of $4.43 per share, for a total transaction of $44,300.00. Following the completion of the transaction, the director now directly owns 179,883 shares in the company, valued at approximately $796,881.69. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 137,677 shares of company stock worth $899,578. Insiders own 3.15% of the company’s stock.

Several institutional investors have recently made changes to their positions in EXTR. BlackRock Inc. raised its holdings in shares of Extreme Networks by 4.5% in the third quarter. BlackRock Inc. now owns 17,229,748 shares of the technology company’s stock valued at $69,264,000 after buying an additional 744,158 shares during the last quarter. Paradigm Capital Management Inc. NY increased its holdings in shares of Extreme Networks by 4.9% during the 3rd quarter. Paradigm Capital Management Inc. NY now owns 7,275,900 shares of the technology company’s stock worth $29,249,000 after acquiring an additional 342,000 shares during the last quarter. State Street Corp grew its holdings in Extreme Networks by 1.3% in the 3rd quarter. State Street Corp now owns 3,963,240 shares of the technology company’s stock valued at $15,932,000 after buying an additional 52,401 shares in the last quarter. FMR LLC grew its holdings in Extreme Networks by 7.6% in the 1st quarter. FMR LLC now owns 3,623,714 shares of the technology company’s stock valued at $27,142,000 after buying an additional 255,096 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Extreme Networks by 111.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,691,723 shares of the technology company’s stock worth $10,821,000 after purchasing an additional 1,417,915 shares in the last quarter. Institutional investors and hedge funds own 73.03% of the company’s stock.

Extreme Networks Company Profile

Extreme Networks, Inc provides software-driven networking solutions for enterprise, data center, and service provider customers worldwide. It designs, develops, and manufactures wired and wireless network infrastructure equipment; and develops software for network management, policy, analytics, security, and access controls.

Further Reading: Understanding Price to Earnings Ratio (PE)

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Earnings History and Estimates for Extreme Networks (NASDAQ:EXTR)

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