Sequans Communications (SQNS) Expected to Post Quarterly Sales of $11.30 Million

Analysts predict that Sequans Communications (NYSE:SQNS) will post sales of $11.30 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Sequans Communications’ earnings. The highest sales estimate is $11.40 million and the lowest is $11.20 million. Sequans Communications reported sales of $12.43 million in the same quarter last year, which would suggest a negative year over year growth rate of 9.1%. The firm is expected to issue its next earnings report before the market opens on Wednesday, May 2nd.

On average, analysts expect that Sequans Communications will report full-year sales of $60.53 million for the current financial year, with estimates ranging from $54.40 million to $66.70 million. For the next year, analysts expect that the firm will report sales of $93.40 million per share, with estimates ranging from $75.30 million to $108.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Sequans Communications.

Sequans Communications (NYSE:SQNS) last announced its quarterly earnings data on Tuesday, February 13th. The semiconductor company reported ($0.08) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.08). Sequans Communications had a negative net margin of 54.20% and a negative return on equity of 314.69%. The business had revenue of $11.30 million for the quarter, compared to analysts’ expectations of $11.20 million. During the same quarter in the prior year, the company earned ($0.06) earnings per share. The business’s revenue was down 19.3% compared to the same quarter last year.

SQNS has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $3.00 price target on shares of Sequans Communications in a report on Monday, January 22nd. ValuEngine cut shares of Sequans Communications from a “sell” rating to a “strong sell” rating in a report on Thursday, March 1st. Canaccord Genuity reiterated a “buy” rating and set a $3.75 price target on shares of Sequans Communications in a report on Wednesday, January 17th. Zacks Investment Research cut shares of Sequans Communications from a “hold” rating to a “strong sell” rating in a report on Saturday, January 20th. Finally, Roth Capital initiated coverage on shares of Sequans Communications in a report on Friday, January 5th. They set a “buy” rating and a $4.00 price target on the stock. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $3.75.

Shares of NYSE:SQNS traded down $0.02 during trading on Friday, reaching $1.63. 3,675 shares of the stock traded hands, compared to its average volume of 333,190. Sequans Communications has a 52-week low of $1.44 and a 52-week high of $4.75. The company has a current ratio of 1.42, a quick ratio of 1.16 and a debt-to-equity ratio of 4.12.

A hedge fund recently bought a new stake in Sequans Communications stock. Citadel Advisors LLC purchased a new position in Sequans Communications (NYSE:SQNS) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 103,850 shares of the semiconductor company’s stock, valued at approximately $198,000. Citadel Advisors LLC owned 0.13% of Sequans Communications at the end of the most recent quarter. 25.64% of the stock is owned by hedge funds and other institutional investors.

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About Sequans Communications

Sequans Communications SA, together with its subsidiaries, engages in fabless designing, developing, and supplying 4G LTE semiconductor solutions for wireless broadband applications. Its solutions incorporate baseband processor and radio frequency (RF) transceiver integrated circuits along with proprietary signal processing techniques, algorithms, and software stacks.

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Earnings History and Estimates for Sequans Communications (NYSE:SQNS)

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