Quantenna Communications Inc (QTNA) to Post Q1 2019 Earnings of $0.03 Per Share, William Blair Forecasts

Quantenna Communications Inc (NASDAQ:QTNA) – William Blair cut their Q1 2019 earnings per share (EPS) estimates for Quantenna Communications in a report issued on Tuesday, February 5th. William Blair analyst now forecasts that the technology company will post earnings of $0.03 per share for the quarter, down from their prior estimate of $0.13. William Blair also issued estimates for Quantenna Communications’ Q2 2019 earnings at $0.06 EPS, Q3 2019 earnings at $0.13 EPS, Q4 2019 earnings at $0.15 EPS and FY2019 earnings at $0.37 EPS.

Quantenna Communications (NASDAQ:QTNA) last released its earnings results on Monday, February 4th. The technology company reported $0.09 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.09. Quantenna Communications had a net margin of 1.40% and a return on equity of 6.77%. The firm had revenue of $62.60 million for the quarter, compared to analyst estimates of $62.00 million. During the same period in the prior year, the firm earned $0.01 earnings per share. The business’s quarterly revenue was up 51.6% compared to the same quarter last year.

Other analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Quantenna Communications from a “buy” rating to a “hold” rating in a research note on Tuesday. BidaskClub upgraded shares of Quantenna Communications from a “sell” rating to a “hold” rating in a research note on Tuesday, December 18th. Barclays lowered shares of Quantenna Communications from an “equal weight” rating to an “underweight” rating in a research note on Thursday, January 17th. Finally, TheStreet lowered shares of Quantenna Communications from a “c-” rating to a “d+” rating in a research note on Monday, December 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Quantenna Communications currently has a consensus rating of “Buy” and an average price target of $19.60.

QTNA stock opened at $16.41 on Friday. Quantenna Communications has a fifty-two week low of $12.19 and a fifty-two week high of $19.41. The company has a market cap of $614.11 million, a P/E ratio of 205.13, a PEG ratio of 0.95 and a beta of 0.87.

Institutional investors have recently made changes to their positions in the business. Alliancebernstein L.P. grew its position in shares of Quantenna Communications by 17.0% during the third quarter. Alliancebernstein L.P. now owns 26,100 shares of the technology company’s stock worth $482,000 after acquiring an additional 3,800 shares during the last quarter. Horrell Capital Management Inc. grew its position in shares of Quantenna Communications by 568.7% during the fourth quarter. Horrell Capital Management Inc. now owns 5,015 shares of the technology company’s stock worth $72,000 after acquiring an additional 4,265 shares during the last quarter. Quantamental Technologies LLC purchased a new position in shares of Quantenna Communications during the fourth quarter worth approximately $69,000. Man Group plc grew its position in shares of Quantenna Communications by 39.1% during the third quarter. Man Group plc now owns 22,400 shares of the technology company’s stock worth $413,000 after acquiring an additional 6,300 shares during the last quarter. Finally, Creative Planning grew its position in shares of Quantenna Communications by 31.3% during the third quarter. Creative Planning now owns 27,727 shares of the technology company’s stock worth $512,000 after acquiring an additional 6,613 shares during the last quarter. Institutional investors own 63.33% of the company’s stock.

In other Quantenna Communications news, CEO Sam Heidari sold 15,000 shares of the stock in a transaction that occurred on Tuesday, January 8th. The shares were sold at an average price of $15.00, for a total value of $225,000.00. Following the transaction, the chief executive officer now directly owns 206,028 shares in the company, valued at $3,090,420. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP David William Carroll sold 6,317 shares of the stock in a transaction that occurred on Friday, November 30th. The shares were sold at an average price of $14.96, for a total transaction of $94,502.32. Following the completion of the transaction, the senior vice president now owns 68,593 shares in the company, valued at $1,026,151.28. The disclosure for this sale can be found here. Insiders sold 125,099 shares of company stock worth $1,866,676 over the last quarter. 13.49% of the stock is currently owned by insiders.

About Quantenna Communications

Quantenna Communications, Inc designs, develops, and markets wireless communication solutions enabling wireless local area networking in the United States and internationally. The company's solutions portfolio comprises radio frequency chips and digital baseband chips, which support the IEEE Wi-Fi standards, including 802.11n, 802.11ac, and draft 802.11ax.

Further Reading: Strangles

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