Quantenna Communications Inc (QTNA) Expected to Post Quarterly Sales of $43.88 Million

Analysts expect Quantenna Communications Inc (NASDAQ:QTNA) to report $43.88 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Quantenna Communications’ earnings, with the highest sales estimate coming in at $44.05 million and the lowest estimate coming in at $43.60 million. Quantenna Communications posted sales of $37.89 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 15.8%. The company is expected to report its next quarterly earnings results on Monday, May 14th.

On average, analysts expect that Quantenna Communications will report full year sales of $43.88 million for the current year, with estimates ranging from $210.00 million to $216.60 million. For the next financial year, analysts anticipate that the company will report sales of $261.28 million per share, with estimates ranging from $255.00 million to $266.31 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Quantenna Communications.

Quantenna Communications (NASDAQ:QTNA) last released its quarterly earnings results on Monday, February 12th. The technology company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.10) by $0.11. Quantenna Communications had a return on equity of 0.96% and a net margin of 19.51%. The business had revenue of $41.30 million during the quarter, compared to analyst estimates of $41.00 million. During the same period last year, the business posted $0.03 earnings per share. The company’s quarterly revenue was up 10.1% on a year-over-year basis.



Several research analysts have recently commented on QTNA shares. Needham & Company LLC restated a “buy” rating and set a $20.00 price target on shares of Quantenna Communications in a research report on Tuesday, February 13th. BidaskClub upgraded Quantenna Communications from a “hold” rating to a “buy” rating in a report on Saturday, March 10th. Zacks Investment Research upgraded Quantenna Communications from a “sell” rating to a “hold” rating in a report on Wednesday, January 10th. ValuEngine upgraded Quantenna Communications from a “sell” rating to a “hold” rating in a report on Thursday, March 1st. Finally, Northland Securities assumed coverage on Quantenna Communications in a report on Thursday, March 8th. They issued an “outperform” rating and a $18.00 target price for the company. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Quantenna Communications presently has a consensus rating of “Hold” and a consensus target price of $19.60.

Shares of QTNA traded up $0.17 during midday trading on Monday, hitting $13.68. 7,144 shares of the stock were exchanged, compared to its average volume of 354,589. Quantenna Communications has a 52-week low of $9.60 and a 52-week high of $22.50. The firm has a market cap of $486.12, a P/E ratio of 675.00, a P/E/G ratio of 1.51 and a beta of 1.45.

In other Quantenna Communications news, SVP David William Carroll sold 3,868 shares of Quantenna Communications stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $14.01, for a total transaction of $54,190.68. Following the completion of the sale, the senior vice president now directly owns 42,988 shares of the company’s stock, valued at approximately $602,261.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders sold 12,695 shares of company stock valued at $177,796. 22.62% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in Quantenna Communications by 2.3% during the 4th quarter. BlackRock Inc. now owns 1,317,636 shares of the technology company’s stock worth $16,075,000 after buying an additional 29,564 shares during the last quarter. JPMorgan Chase & Co. increased its position in Quantenna Communications by 17.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,122,726 shares of the technology company’s stock valued at $18,817,000 after acquiring an additional 170,542 shares during the period. Thrivent Financial For Lutherans purchased a new stake in Quantenna Communications in the 4th quarter valued at approximately $10,008,000. Cortina Asset Management LLC boosted its holdings in Quantenna Communications by 36.2% in the 4th quarter. Cortina Asset Management LLC now owns 645,349 shares of the technology company’s stock valued at $7,873,000 after purchasing an additional 171,582 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in Quantenna Communications by 12.1% in the 4th quarter. Wells Fargo & Company MN now owns 576,386 shares of the technology company’s stock valued at $7,032,000 after purchasing an additional 62,091 shares in the last quarter. 47.58% of the stock is owned by institutional investors.

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About Quantenna Communications

Quantenna Communications, Inc is engaged in the design, development and marketing of wireless communication solutions enabling wireless local area networking. The Company’s solutions are designed to deliver wireless fidelity (Wi-Fi) performance to support various connected devices accessing a pool of digital content.

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