National Instruments (NASDAQ:NATI) Announces Quarterly Earnings Results, Misses Estimates By $0.08 EPS
National Instruments (NASDAQ:NATI) issued its quarterly earnings data on Thursday. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.08), MarketWatch Earnings reports. The firm had revenue of $301.33 million for the quarter, compared to analyst estimates of $301.51 million. National Instruments had a return on equity of 12.62% and a net margin of 19.25%. National Instruments updated its Q3 2020
After-Hours guidance to 0.14-0.28 EPS and its Q3 guidance to $0.14-0.28 EPS.
Shares of NASDAQ:NATI traded down $2.34 during midday trading on Friday, reaching $35.50. The company’s stock had a trading volume of 2,598,419 shares, compared to its average volume of 375,775. The firm has a market cap of $4.64 billion, a price-to-earnings ratio of 30.34 and a beta of 1.03. National Instruments has a 1 year low of $20.42 and a 1 year high of $47.89. The business has a 50 day moving average price of $38.09 and a 200 day moving average price of $38.69.
Several brokerages recently issued reports on NATI. Susquehanna Bancshares reaffirmed a “hold” rating and set a $35.00 price objective on shares of National Instruments in a report on Tuesday, June 9th. Royal Bank of Canada reissued a “hold” rating and set a $39.00 price target on shares of National Instruments in a research report on Thursday, April 30th. Stifel Nicolaus dropped their price target on National Instruments from $50.00 to $46.00 and set a “hold” rating for the company in a research report on Friday, May 1st. BidaskClub downgraded National Instruments from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 15th. Finally, Zacks Investment Research downgraded National Instruments from a “hold” rating to a “sell” rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $41.00.
National Instruments Corporation provides a software-centric platform and systems to engineers and scientists worldwide. Its programming environments software includes LabVIEW, a graphical application software package to visualize hardware configuration, measurement data, and debugging of application; 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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