-$0.31 Earnings Per Share Expected for Arlo Technologies Inc (NYSE:ARLO) This Quarter

Wall Street brokerages expect Arlo Technologies Inc (NYSE:ARLO) to post earnings of ($0.31) per share for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Arlo Technologies’ earnings, with the lowest EPS estimate coming in at ($0.32) and the highest estimate coming in at ($0.29). Arlo Technologies posted earnings per share of ($0.33) during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.1%. The company is expected to announce its next earnings report on Tuesday, February 4th.

According to Zacks, analysts expect that Arlo Technologies will report full year earnings of ($1.47) per share for the current fiscal year, with EPS estimates ranging from ($1.49) to ($1.44). For the next financial year, analysts expect that the business will post earnings of ($0.92) per share, with EPS estimates ranging from ($1.07) to ($0.76). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Arlo Technologies.

Arlo Technologies (NYSE:ARLO) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.05. Arlo Technologies had a negative net margin of 36.49% and a negative return on equity of 62.20%. The firm had revenue of $106.12 million during the quarter, compared to analysts’ expectations of $102.14 million. During the same quarter in the prior year, the company earned ($0.05) EPS. The company’s revenue was down 19.1% compared to the same quarter last year.

A number of analysts have weighed in on the company. Zacks Investment Research lowered Arlo Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, November 13th. Deutsche Bank initiated coverage on Arlo Technologies in a research report on Monday, November 11th. They set a “buy” rating and a $4.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $5.20.

In other Arlo Technologies news, CEO Matthew Blake Mcrae purchased 36,600 shares of Arlo Technologies stock in a transaction dated Monday, November 11th. The shares were acquired at an average cost of $2.73 per share, with a total value of $99,918.00. Following the completion of the transaction, the chief executive officer now owns 319,799 shares in the company, valued at approximately $873,051.27. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Ralph E. Faison acquired 36,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were acquired at an average price of $2.88 per share, with a total value of $103,680.00. Following the acquisition, the director now owns 182,725 shares in the company, valued at approximately $526,248. The disclosure for this purchase can be found here. Insiders own 0.74% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in Arlo Technologies during the 3rd quarter valued at about $44,000. Marshall Wace LLP purchased a new stake in Arlo Technologies in the first quarter valued at about $74,000. Bank of Montreal Can boosted its holdings in Arlo Technologies by 92.4% in the second quarter. Bank of Montreal Can now owns 19,243 shares of the company’s stock worth $77,000 after acquiring an additional 9,243 shares in the last quarter. Metropolitan Life Insurance Co NY acquired a new stake in Arlo Technologies in the first quarter worth about $80,000. Finally, Virginia Retirement Systems ET AL acquired a new stake in Arlo Technologies in the second quarter worth about $92,000. Hedge funds and other institutional investors own 82.54% of the company’s stock.

Shares of ARLO stock opened at $3.28 on Friday. The firm has a market cap of $248.32 million, a price-to-earnings ratio of -3.22 and a beta of 0.53. Arlo Technologies has a 52-week low of $2.66 and a 52-week high of $11.75. The company has a quick ratio of 1.37, a current ratio of 1.74 and a debt-to-equity ratio of 0.17. The company’s 50 day moving average is $3.22 and its 200 day moving average is $3.54.

About Arlo Technologies

Arlo Technologies, Inc provides smart connected devices to monitor the environments in real-time with a Wi-Fi or a cellular network Internet connection in the Americas, Europe, the Middle-East and Africa, and the Asia Pacific regions. It offers Arlo Security Camera, a battery-operated Wi-Fi security camera; Arlo Q and Arlo Q Plus, an indoor wired solution that allow users to monitor their surroundings; Arlo Pro, a battery-operated weather-resistant Wi-Fi camera; Arlo Go, an LTE-enabled wire-free camera that provides untethered mobile monitoring; and Arlo Baby, a baby monitor with air quality and temperature sensors, motion and audio detection, and advanced night vision.

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