Wall Street brokerages expect National Instruments Corp (NASDAQ:NATI) to post sales of $322.18 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for National Instruments’ earnings. The lowest sales estimate is $320.57 million and the highest is $324.96 million. National Instruments reported sales of $300.11 million during the same quarter last year, which indicates a positive year-over-year growth rate of 7.4%. The firm is expected to report its next quarterly earnings results on Thursday, April 26th.
According to Zacks, analysts expect that National Instruments will report full-year sales of $322.18 million for the current year, with estimates ranging from $1.38 billion to $1.39 billion. For the next year, analysts anticipate that the company will post sales of $1.50 billion per share, with estimates ranging from $1.47 billion to $1.53 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover National Instruments.
National Instruments (NASDAQ:NATI) last issued its earnings results on Tuesday, January 30th. The technology company reported $0.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.01. The business had revenue of $349.80 million during the quarter, compared to analysts’ expectations of $347.38 million. National Instruments had a return on equity of 10.76% and a net margin of 4.06%. National Instruments’s revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 earnings per share.
Several brokerages have recently commented on NATI. Zacks Investment Research cut National Instruments from a “buy” rating to a “hold” rating in a research report on Wednesday. BidaskClub raised National Instruments from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 3rd. ValuEngine raised National Instruments from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Robert W. Baird reaffirmed a “buy” rating on shares of National Instruments in a research report on Wednesday, January 31st. Finally, Stifel Nicolaus raised their target price on National Instruments from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $47.67.
In related news, Director Jeffrey L. Kodosky sold 1,600 shares of the stock in a transaction on Monday, January 8th. The stock was sold at an average price of $43.77, for a total transaction of $70,032.00. Following the completion of the sale, the director now directly owns 8,270,037 shares in the company, valued at $361,979,519.49. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Alexander M. Davern sold 11,925 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $50.31, for a total value of $599,946.75. Following the sale, the chief executive officer now owns 114,938 shares of the company’s stock, valued at $5,782,530.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 864,866 shares of company stock valued at $43,821,903. 9.92% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in NATI. Alliancebernstein L.P. raised its holdings in shares of National Instruments by 3,081.3% during the fourth quarter. Alliancebernstein L.P. now owns 2,000,276 shares of the technology company’s stock worth $83,271,000 after acquiring an additional 1,937,399 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of National Instruments by 37.7% during the fourth quarter. American Century Companies Inc. now owns 2,137,187 shares of the technology company’s stock worth $88,971,000 after acquiring an additional 584,819 shares in the last quarter. Allianz Asset Management GmbH purchased a new stake in shares of National Instruments during the fourth quarter worth $12,739,000. Janus Henderson Group PLC raised its holdings in shares of National Instruments by 2.5% during the third quarter. Janus Henderson Group PLC now owns 10,804,219 shares of the technology company’s stock worth $455,616,000 after acquiring an additional 262,578 shares in the last quarter. Finally, APG Asset Management N.V. raised its holdings in shares of National Instruments by 160.1% during the fourth quarter. APG Asset Management N.V. now owns 424,500 shares of the technology company’s stock worth $14,717,000 after acquiring an additional 261,300 shares in the last quarter. Institutional investors and hedge funds own 76.96% of the company’s stock.
Shares of NATI stock opened at $50.20 on Friday. The company has a market capitalization of $6,726.87, a price-to-earnings ratio of 55.13 and a beta of 0.97. National Instruments has a 12-month low of $31.47 and a 12-month high of $53.57.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 5th. Investors of record on Monday, February 12th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.83%. This is a positive change from National Instruments’s previous quarterly dividend of $0.21. The ex-dividend date was Friday, February 9th. National Instruments’s dividend payout ratio (DPR) is currently 230.01%.
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About National Instruments
National Instruments Corporation (NI) designs, manufactures and sells systems to engineers and scientists. The Company offers a line of measurement, automation and control products. It offers products, technology and services, which include system design software, programming tools, application software, modular hardware products and related driver software, production test systems, NI education platform, software products for teaching and hardware products for teaching.
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