Brokerages Anticipate Extreme Networks, Inc (NASDAQ:EXTR) to Post $0.01 Earnings Per Share

Analysts predict that Extreme Networks, Inc (NASDAQ:EXTR) will announce earnings per share (EPS) of $0.01 for the current quarter, Zacks reports. Zero analysts have made estimates for Extreme Networks’ earnings. Extreme Networks reported earnings of $0.08 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 87.5%. The firm is scheduled to announce its next quarterly earnings results on Friday, November 1st.

According to Zacks, analysts expect that Extreme Networks will report full-year earnings of $0.66 per share for the current fiscal year. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow Extreme Networks.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings results on Wednesday, July 31st. The technology company reported ($0.01) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.01. The business had revenue of $252.40 million during the quarter, compared to analyst estimates of $244.72 million. Extreme Networks had a negative net margin of 2.60% and a positive return on equity of 10.98%. Extreme Networks’s quarterly revenue was down 9.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.20 EPS.



Several analysts have recently issued reports on EXTR shares. Zacks Investment Research upgraded shares of Extreme Networks from a “hold” rating to a “strong-buy” rating and set a $9.00 target price for the company in a research note on Tuesday, August 13th. BidaskClub lowered shares of Extreme Networks from a “buy” rating to a “hold” rating in a research note on Friday. ValuEngine lowered shares of Extreme Networks from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Lake Street Capital started coverage on shares of Extreme Networks in a research note on Monday, July 29th. They issued a “buy” rating and a $9.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $10.33.

EXTR stock traded down $0.15 during midday trading on Thursday, reaching $7.40. 1,651,800 shares of the company’s stock traded hands, compared to its average volume of 1,307,674. The company has a market cap of $918.55 million, a price-to-earnings ratio of 56.92 and a beta of 1.64. The firm’s fifty day moving average price is $7.32 and its 200-day moving average price is $6.98. The company has a quick ratio of 1.06, a current ratio of 1.24 and a debt-to-equity ratio of 1.46. Extreme Networks has a 52 week low of $4.81 and a 52 week high of $8.59.

In other news, CRO Robert J. Gault sold 39,584 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $7.73, for a total value of $305,984.32. Following the completion of the sale, the executive now owns 294,797 shares in the company, valued at approximately $2,278,780.81. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Edward Meyercord sold 100,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $8.22, for a total transaction of $822,000.00. Following the completion of the sale, the insider now owns 482,416 shares of the company’s stock, valued at approximately $3,965,459.52. The disclosure for this sale can be found here. Corporate insiders own 2.45% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC bought a new stake in shares of Extreme Networks in the 2nd quarter worth $27,000. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Extreme Networks in the 2nd quarter worth about $46,000. Westwood Holdings Group Inc. purchased a new position in shares of Extreme Networks in the 2nd quarter worth about $65,000. Atria Investments LLC purchased a new position in shares of Extreme Networks in the 2nd quarter worth about $154,000. Finally, Bailard Inc. purchased a new position in shares of Extreme Networks in the 2nd quarter worth about $68,000. Hedge funds and other institutional investors own 80.71% of the company’s stock.

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

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