$1.10 EPS Expected for Fortinet, Inc. (NASDAQ:FTNT) This Quarter

Equities research analysts forecast that Fortinet, Inc. (NASDAQ:FTNTGet Rating) will announce earnings of $1.10 per share for the current quarter, according to Zacks Investment Research. Eleven analysts have provided estimates for Fortinet’s earnings, with the highest EPS estimate coming in at $1.26 and the lowest estimate coming in at $1.07. Fortinet posted earnings per share of $0.95 during the same quarter last year, which would indicate a positive year-over-year growth rate of 15.8%. The company is scheduled to issue its next earnings report on Monday, January 1st.

On average, analysts expect that Fortinet will report full-year earnings of $5.09 per share for the current financial year, with EPS estimates ranging from $5.06 to $5.14. For the next financial year, analysts forecast that the company will post earnings of $6.16 per share, with EPS estimates ranging from $5.93 to $6.52. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that cover Fortinet.

Fortinet (NASDAQ:FTNTGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The software maker reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.34. Fortinet had a return on equity of 67.94% and a net margin of 17.79%. The firm had revenue of $954.80 million for the quarter, compared to analysts’ expectations of $886.45 million. During the same period last year, the business posted $0.57 earnings per share. The firm’s revenue for the quarter was up 34.4% on a year-over-year basis.

Several equities analysts recently issued reports on the company. Raymond James reduced their price objective on Fortinet from $380.00 to $350.00 and set an “outperform” rating on the stock in a research note on Friday, February 4th. TheStreet lowered Fortinet from a “b” rating to a “c+” rating in a research report on Tuesday, May 10th. Bank of America lowered Fortinet from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $385.00 to $355.00 in a research report on Friday, March 25th. Barclays raised Fortinet from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $364.00 to $395.00 in a research report on Tuesday, March 29th. Finally, UBS Group dropped their target price on Fortinet from $370.00 to $340.00 and set a “neutral” rating on the stock in a research report on Friday, February 4th. Nine analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $355.29.

FTNT traded down $4.26 during trading hours on Tuesday, hitting $282.11. 23,789 shares of the stock were exchanged, compared to its average volume of 1,483,892. The stock has a 50-day simple moving average of $310.11 and a 200-day simple moving average of $316.17. Fortinet has a 12 month low of $211.53 and a 12 month high of $371.77. The stock has a market cap of $45.29 billion, a price-to-earnings ratio of 73.85, a price-to-earnings-growth ratio of 4.03 and a beta of 1.21. The company has a debt-to-equity ratio of 4.24, a current ratio of 1.28 and a quick ratio of 1.20.

In other Fortinet news, VP Michael Xie sold 1,653 shares of the company’s stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $248.85, for a total transaction of $411,349.05. Following the completion of the sale, the vice president now directly owns 5,954,424 shares of the company’s stock, valued at $1,481,758,412.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Keith Jensen sold 3,127 shares of the company’s stock in a transaction dated Thursday, February 24th. The shares were sold at an average price of $316.36, for a total transaction of $989,257.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,808 shares of company stock worth $2,313,480. 18.60% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of FTNT. Rise Advisors LLC purchased a new stake in shares of Fortinet in the 4th quarter valued at approximately $25,000. GW&K Investment Management LLC purchased a new stake in shares of Fortinet in the 1st quarter valued at approximately $25,000. Atwood & Palmer Inc. purchased a new stake in shares of Fortinet in the 1st quarter valued at approximately $26,000. Liberty Wealth Management LLC purchased a new stake in shares of Fortinet in the 3rd quarter valued at approximately $29,000. Finally, Riverview Trust Co purchased a new stake in shares of Fortinet in the 1st quarter valued at approximately $33,000. Institutional investors and hedge funds own 67.47% of the company’s stock.

Fortinet Company Profile (Get Rating)

Fortinet, Inc provides broad, integrated, and automated cybersecurity solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers FortiGate hardware and software licenses that provide various security and networking functions, including firewall, intrusion prevention, anti-malware, virtual private network, application control, web filtering, anti-spam, and wide area network acceleration.

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