Analysts Anticipate Silver Spring Networks Inc (SSNI) to Announce -$0.15 Earnings Per Share

Analysts Anticipate Silver Spring Networks Inc (SSNI) to Announce -$0.15 Earnings Per Share

Analysts expect that Silver Spring Networks Inc (NYSE:SSNI) will post earnings per share of ($0.15) for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Silver Spring Networks’ earnings, with estimates ranging from ($0.22) to ($0.10). Silver Spring Networks posted earnings of ($0.11) per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 36.4%. The company is expected to announce its next earnings report after the market closes on Tuesday, May 9th.

According to Zacks, analysts expect that Silver Spring Networks will report full year earnings of ($0.38) per share for the current fiscal year, with EPS estimates ranging from ($0.48) to ($0.32). For the next fiscal year, analysts anticipate that the company will post earnings of ($0.17) per share. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Silver Spring Networks.

Silver Spring Networks (NYSE:SSNI) last issued its earnings results on Tuesday, February 21st. The technology company reported ($0.27) EPS for the quarter, missing the consensus estimate of $0.02 by $0.29. The business earned $66.30 million during the quarter, compared to analyst estimates of $76.09 million. During the same quarter last year, the company posted $0.08 EPS. The company’s revenue was down 66.7% on a year-over-year basis.

A number of research firms have commented on SSNI. Benchmark Co. began coverage on shares of Silver Spring Networks in a report on Tuesday, April 25th. They issued a “hold” rating for the company. Oppenheimer Holdings Inc. set a $17.00 price objective on shares of Silver Spring Networks and gave the company a “buy” rating in a report on Saturday, April 1st. FBR & Co reiterated an “outperform” rating and issued a $17.00 price objective on shares of Silver Spring Networks in a report on Tuesday, March 28th. Williams Financial Group downgraded shares of Silver Spring Networks from a “buy” rating to a “hold” rating in a report on Monday, March 13th. Finally, Williams Capital downgraded shares of Silver Spring Networks from a “buy” rating to a “hold” rating and set a $11.00 price objective for the company. in a report on Monday, March 13th. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $15.10.

In other news, insider Eric P. Dresselhuys sold 28,870 shares of the firm’s stock in a transaction that occurred on Thursday, February 23rd. The shares were sold at an average price of $11.81, for a total transaction of $340,954.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Raj Vaswani sold 25,778 shares of the firm’s stock in a transaction that occurred on Thursday, April 6th. The stock was sold at an average price of $10.91, for a total transaction of $281,237.98. Following the sale, the insider now owns 607,899 shares of the company’s stock, valued at approximately $6,632,178.09. The disclosure for this sale can be found here. Insiders have sold a total of 55,648 shares of company stock valued at $634,703 in the last 90 days. Insiders own 29.60% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. K.J. Harrison & Partners Inc purchased a new stake in shares of Silver Spring Networks during the third quarter worth about $383,000. Wells Fargo & Company MN increased its stake in shares of Silver Spring Networks by 372.6% in the third quarter. Wells Fargo & Company MN now owns 72,844 shares of the technology company’s stock worth $1,034,000 after buying an additional 57,430 shares in the last quarter. Prudential Financial Inc. purchased a new stake in shares of Silver Spring Networks during the third quarter worth about $724,000. Schroder Investment Management Group increased its stake in shares of Silver Spring Networks by 1.9% in the third quarter. Schroder Investment Management Group now owns 257,374 shares of the technology company’s stock worth $3,650,000 after buying an additional 4,716 shares in the last quarter. Finally, Marathon Capital Management increased its stake in shares of Silver Spring Networks by 4.9% in the third quarter. Marathon Capital Management now owns 347,960 shares of the technology company’s stock worth $4,934,000 after buying an additional 16,175 shares in the last quarter. Institutional investors and hedge funds own 76.63% of the company’s stock.

Shares of Silver Spring Networks (NYSE:SSNI) traded up 1.04% during mid-day trading on Monday, reaching $11.68. The company’s stock had a trading volume of 123,594 shares. Silver Spring Networks has a one year low of $10.18 and a one year high of $15.40. The firm’s market cap is $619.53 million. The firm’s 50 day moving average is $11.12 and its 200 day moving average is $12.68.

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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