Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.21-$0.29 for the period, compared to the Thomson Reuters consensus estimate of $0.25. The company issued revenue guidance of $172-$180 million, compared to the consensus revenue estimate of $176.74 million.
Several research analysts recently commented on the stock. Northland Securities reiterated a hold rating and issued a $26.00 target price on shares of Sierra Wireless in a report on Friday. Scotiabank lifted their target price on shares of Sierra Wireless from $23.00 to $31.00 and gave the stock a sector perform rating in a report on Friday. TD Securities dropped their price objective on shares of Sierra Wireless from $30.00 to $28.00 and set a hold rating on the stock in a report on Friday. BidaskClub downgraded shares of Sierra Wireless from a sell rating to a strong sell rating in a report on Saturday, August 19th. Finally, Zacks Investment Research upgraded shares of Sierra Wireless from a sell rating to a hold rating in a report on Wednesday, September 20th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $27.31.
Sierra Wireless, Inc. (SWIR) traded up $0.55 during midday trading on Friday, reaching $23.00. 548,173 shares of the company were exchanged, compared to its average volume of 238,606. The firm has a market capitalization of $741.05, a P/E ratio of 22.33 and a beta of 3.21.
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A hedge fund recently bought a new stake in Sierra Wireless stock. Northern Trust Corp bought a new stake in Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,715 shares of the communications equipment provider’s stock, valued at approximately $301,000. 24.89% of the stock is owned by institutional investors.
About Sierra Wireless
Sierra Wireless, Inc is engaged in building the Internet of Things (IoT) with wireless solutions for organizations. The Company’s OEM Solution segment offers cellular embedded wireless modules for IoT connectivity, including an embedded application framework to support customer applications. The Company’s Enterprise Solution segment offers intelligent routers and gateways, including management tools and applications that enable cellular connectivity.
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