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Zacks: Brokerages Anticipate National Instruments Co. (NASDAQ:NATI) Will Announce Quarterly Sales of $302.62 Million

Last updated on Tuesday, October 20, 2020 | 2020 MarketBeat

Analysts forecast that National Instruments Co. (NASDAQ:NATI) will announce $302.62 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for National Instruments' earnings, with estimates ranging from $297.20 million to $310.44 million. National Instruments posted sales of $340.44 million in the same quarter last year, which suggests a negative year over year growth rate of 11.1%. The business is expected to announce its next earnings report after the market closes on Thursday, October 29th.

On average, analysts expect that National Instruments will report full year sales of $1.25 billion for the current financial year, with estimates ranging from $1.24 billion to $1.27 billion. For the next year, analysts forecast that the firm will report sales of $1.37 billion, with estimates ranging from $1.31 billion to $1.43 billion. Zacks' sales averages are a mean average based on a survey of research firms that cover National Instruments.

National Instruments (NASDAQ:NATI) last posted its quarterly earnings results on Thursday, July 30th. The technology company reported $0.08 earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of $0.16 by ($0.08). The business had revenue of $301.33 million during the quarter, compared to analysts' expectations of $301.51 million. National Instruments had a return on equity of 12.46% and a net margin of 19.25%.

Several equities analysts have recently weighed in on NATI shares. 140166 reissued a "hold" rating and issued a $35.00 price target on shares of National Instruments in a research note on Tuesday, August 4th. Goldman Sachs Group started coverage on shares of National Instruments in a research note on Thursday, August 13th. They set a "neutral" rating and a $38.00 target price on the stock. BidaskClub downgraded shares of National Instruments from a "sell" rating to a "strong sell" rating in a research note on Wednesday, July 15th. Royal Bank of Canada reaffirmed a "hold" rating and set a $39.00 target price on shares of National Instruments in a research note on Sunday, August 16th. Finally, JPMorgan Chase & Co. downgraded shares of National Instruments from a "neutral" rating to an "underweight" rating and set a $37.00 target price on the stock. in a research note on Thursday, October 8th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. National Instruments presently has an average rating of "Hold" and an average target price of $40.57.

In other National Instruments news, CMO Carla Pineyro Sublett sold 5,563 shares of the company's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $35.88, for a total transaction of $199,600.44. Following the transaction, the chief marketing officer now directly owns 31,576 shares in the company, valued at $1,132,946.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.87% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Capital Investment Counsel Inc boosted its stake in shares of National Instruments by 7.5% during the 3rd quarter. Capital Investment Counsel Inc now owns 7,200 shares of the technology company's stock worth $257,000 after acquiring an additional 500 shares in the last quarter. O Shares Investment Advisers LLC increased its position in shares of National Instruments by 2.1% in the second quarter. O Shares Investment Advisers LLC now owns 27,706 shares of the technology company's stock valued at $1,072,000 after buying an additional 579 shares in the last quarter. New York State Teachers Retirement System increased its position in shares of National Instruments by 0.4% in the second quarter. New York State Teachers Retirement System now owns 156,835 shares of the technology company's stock valued at $6,071,000 after buying an additional 600 shares in the last quarter. Mission Wealth Management LP increased its position in shares of National Instruments by 12.6% in the third quarter. Mission Wealth Management LP now owns 6,818 shares of the technology company's stock valued at $243,000 after buying an additional 761 shares in the last quarter. Finally, BDO Wealth Advisors LLC purchased a new position in shares of National Instruments in the first quarter valued at $26,000. Institutional investors and hedge funds own 84.60% of the company's stock.

NASDAQ:NATI opened at $35.89 on Tuesday. The company's 50-day moving average price is $35.83 and its 200-day moving average price is $36.93. The company has a current ratio of 3.27, a quick ratio of 2.65 and a debt-to-equity ratio of 0.07. The company has a market cap of $4.72 billion, a P/E ratio of 18.60 and a beta of 0.97. National Instruments has a twelve month low of $20.42 and a twelve month high of $47.89.

National Instruments Company Profile

National Instruments Corporation provides a software-centric platform and systems to engineers and scientists worldwide. Its programming environments software includes NI LabVIEW, a graphical software platform to visualize hardware configuration, measurement data, and debugging of application; NI LabWindows/CVI, an ANSI C integrated development environment and engineering toolbox with built-in libraries for measurement, analysis, and engineering UI design; and NI Measurement Studio, a suite of .NET tools designed for building engineering applications in Microsoft Visual Studio to acquire, analyze, and display measurement data.

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