Novatel Wireless Rating Lowered to Market Perform at BMO Capital Markets (NVTL)

By admin | 6 years ago

Novatel Wireless (NASDAQ: NVTL) was downgraded by research analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a report released on Thursday.

Novatel Wireless traded down 5.69% on Thursday, hitting $1.99. Novatel Wireless has a 1-year low of $2.10 and a 1-year high of $6.00. The company’s market cap is $64.3 million.

The company last announced its quarterly results on Wednesday, May 2nd. It reported ($0.14) earnings per share (EPS) for the previous quarter, missing the Thomson Reuters consensus estimate of ($0.08) EPS by $0.06. The company’s quarterly revenue was up 62.1% on a year-over-year basis. Analysts expect that Novatel Wireless will post $0.03 EPS next quarter.

A number of other firms have also recently commented on NVTL. Analysts at Zacks upgraded shares of Novatel Wireless from a “neutral” rating to an “outperform” rating in a research note to investors on Friday, March 23rd. They now have a $4.00 price target on the stock. Separately, analysts at Canaccord Genuity reiterated a “hold” rating on shares of Novatel Wireless in a research note to investors on Thursday, February 23rd. Finally, analysts at Brigantine initiated coverage on shares of Novatel Wireless in a research note to investors on Thursday, February 23rd. They set a “neutral” rating on the stock.

Novatel Wireless, Inc. (Novatel Wireless) is a provider of wireless broadband access solutions for the mobile communications market.

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