Riverbed Technology To Deliver 12.5% YOY Earnings Growth, Experts & Crowd Say

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Riverbed Technology, Inc. RVBD is scheduled to announce its first quarter financial results on Monday, before the market opens.

According to Estimize, both experts and the crowd expect to see 12.5 percent year-over-year growth in earnings. In the first quarter of 2014, the company reported earnings of $0.24 per share on revenue of $265.4 million; for the current quarter, earnings are projected to come in at $0.27 per share. The Street models revenue of $265.31 million, while the crowd anticipates $269.66 million in revenue.

On the other hand –as it can be appreciated at the above chart- these estimates imply a substantial decline from last quarter’s results. The fourth quarter of 2014 brought earnings of $0.34 per share on revenue of $283.39.

The second graph illustrates the evolution of estimates over time. As it can be seen, the Street’s expectations have remained flat since early-February. The crowd’s consensus cannot be visualized, but stands at the same level as the Street’s, and also maintained its level over time.

 

Institutional Ownership

A look at some of the hedge funds invested in Riverbed might give us a better view of the company. Paul Singer’s Elliott Associates was the largest institutional shareholder of record at the company, with 14,966,446 shares worth more than $300 million. However, a few days ago, the firm presented an SEC filing disclosing ownership of zero shares of Riverbed, suggesting the position was closed.

On the opposite, Gabelli Funds declared that over the first quarter of 2015, it boosted its exposure to the company by 8 percent, to 2,366,426 shares, worth almost $50 million.

Also bullish on Riverbed is Eric Mindich’s Eton Park Capital Management, which disclosed holding 9,560,553 by late-February.

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Posted In: Analyst ColorHedge FundsPreviewsAnalyst RatingsTechTrading IdeasGeneralelliott associatesEric MindichEstimizeEton Park Capital Management LPGabelli FundsPaul Singer
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