$0.06 Earnings Per Share Expected for Silver Spring Networks Inc (SSNI) This Quarter

Analysts forecast that Silver Spring Networks Inc (NYSE:SSNI) will report earnings of $0.06 per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Silver Spring Networks’ earnings. Silver Spring Networks reported earnings of $0.05 per share in the same quarter last year, which would indicate a positive year over year growth rate of 20%. The firm is expected to issue its next earnings results on Tuesday, February 20th.

According to Zacks, analysts expect that Silver Spring Networks will report full year earnings of $0.06 per share for the current fiscal year, with EPS estimates ranging from ($0.04) to $0.15. For the next fiscal year, analysts anticipate that the company will report earnings of $0.25 per share, with EPS estimates ranging from $0.21 to $0.30. Zacks’ EPS averages are an average based on a survey of analysts that follow Silver Spring Networks.

Several equities research analysts recently commented on the stock. FBR & Co downgraded shares of Silver Spring Networks from a “buy” rating to a “neutral” rating and set a $16.00 target price on the stock. in a research report on Friday, September 22nd. Guggenheim downgraded shares of Silver Spring Networks from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $13.00 to $16.00 in a research report on Monday, September 18th. BidaskClub downgraded shares of Silver Spring Networks from a “hold” rating to a “sell” rating in a research report on Monday, October 23rd. Oppenheimer reiterated a “buy” rating and set a $14.00 target price on shares of Silver Spring Networks in a research report on Monday, September 18th. Finally, Raymond James Financial downgraded shares of Silver Spring Networks from a “strong-buy” rating to a “mkt perform” rating in a research report on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $14.95.

Silver Spring Networks (NYSE SSNI) traded up $0.02 during trading hours on Thursday, reaching $16.24. 2,052,591 shares of the company traded hands, compared to its average volume of 965,269. Silver Spring Networks has a twelve month low of $9.68 and a twelve month high of $16.24.

In other news, insider Donald L. Reeves III sold 30,579 shares of Silver Spring Networks stock in a transaction on Monday, September 18th. The shares were sold at an average price of $16.15, for a total value of $493,850.85. Following the completion of the sale, the insider now owns 32,260 shares in the company, valued at approximately $520,999. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Theresa Stynes sold 46,886 shares of Silver Spring Networks stock in a transaction on Friday, November 10th. The shares were sold at an average price of $16.11, for a total transaction of $755,333.46. Following the completion of the sale, the insider now owns 23,749 shares of the company’s stock, valued at approximately $382,596.39. The disclosure for this sale can be found here. Insiders sold a total of 245,947 shares of company stock worth $3,974,044 in the last 90 days. Corporate insiders own 25.20% of the company’s stock.

Several large investors have recently added to or reduced their stakes in SSNI. Teachers Advisors LLC increased its stake in shares of Silver Spring Networks by 3.3% in the 1st quarter. Teachers Advisors LLC now owns 62,692 shares of the technology company’s stock valued at $708,000 after acquiring an additional 2,012 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Silver Spring Networks by 10.6% in the 1st quarter. Vanguard Group Inc. now owns 1,619,151 shares of the technology company’s stock valued at $18,280,000 after acquiring an additional 155,130 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Silver Spring Networks by 14.5% in the 1st quarter. Geode Capital Management LLC now owns 305,422 shares of the technology company’s stock valued at $3,448,000 after acquiring an additional 38,626 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Silver Spring Networks by 14.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 886,065 shares of the technology company’s stock valued at $10,004,000 after acquiring an additional 112,428 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Silver Spring Networks by 6.0% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 145,138 shares of the technology company’s stock valued at $1,639,000 after acquiring an additional 8,190 shares in the last quarter. Institutional investors own 76.05% of the company’s stock.

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About Silver Spring Networks

Silver Spring Networks, Inc is engaged in creating, building and deploying large-scale networks and solutions enabling the Internet of things (IoT) for critical infrastructure. The Company provides a networking platform and solutions that enable utilities to transform the power grid infrastructure into the smart grid.

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