Aviat Networks (NASDAQ:AVNW) Issues Earnings Results

Aviat Networks (NASDAQ:AVNW) released its earnings results on Wednesday. The communications equipment provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01), Zacks reports. Aviat Networks had a net margin of 4.23% and a return on equity of 15.11%. The company had revenue of $111.61 million for the quarter, compared to the consensus estimate of $113.56 million. During the same quarter in the previous year, the company posted $0.61 earnings per share. Aviat Networks updated its FY 2024 guidance to EPS.

Aviat Networks Price Performance

Shares of Aviat Networks stock traded down $5.69 during midday trading on Thursday, hitting $28.28. 584,912 shares of the company traded hands, compared to its average volume of 110,246. The firm’s fifty day moving average price is $35.12 and its 200-day moving average price is $32.33. The stock has a market cap of $354.91 million, a price-to-earnings ratio of 22.12 and a beta of 1.78. Aviat Networks has a 12 month low of $21.15 and a 12 month high of $38.85. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.63 and a current ratio of 2.00.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. B. Riley reduced their price objective on shares of Aviat Networks from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Wednesday, February 7th. StockNews.com raised shares of Aviat Networks from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. Finally, JMP Securities restated a “market outperform” rating and set a $50.00 target price on shares of Aviat Networks in a research note on Monday, February 5th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Aviat Networks presently has an average rating of “Moderate Buy” and an average target price of $54.75.

About Aviat Networks

Aviat Networks, Inc provides microwave networking and wireless access networking solutions in North America, Africa, the Middle East, Europe, Latin America, and the Asia Pacific. The company offers outdoor, indoor, and split-mount radios; microwave routers, switches, and trunking; and private LTE, virtual fiber, and element management products; and hosted software products, such as aviat design, frequency assurance software, and health assurance software.