Aviat Networks (NASDAQ:AVNW) Posts Earnings Results, Misses Estimates By $0.36 EPS

Key Points

• Earnings miss: Aviat Networks reported Q results with EPS of $0.06, missing estimates by $0.36 (consensus $0.42), and revenue of $100.0M versus estimates of $106.39M, with a net margin of 3.27% and ROE of 10.71%.
• Shares traded down to $22.64 (down $0.48) on above-average volume; the company has a market cap of $292.06M, a P/E of 20.21, and a 12‑month range of $18.40–$27.02.
• Insider sales: SVP Gary Croke and CEO Pete A. Smith sold 6,914 and 17,086 shares respectively, trimming their stakes (insiders own 5.30% while institutional ownership is about 78.62%).

Aviat Networks (NASDAQ:AVNW - Get Free Report) issued its quarterly earnings results on Monday. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.36), FiscalAI reports. Aviat Networks had a return on equity of 10.71% and a net margin of 3.27%.The firm had revenue of $100.00 million for the quarter, compared to analyst estimates of $106.39 million.

Aviat Networks Price Performance

Shares of AVNW stock traded down $0.48 during trading hours on Monday, hitting $22.64. The company's stock had a trading volume of 198,177 shares, compared to its average volume of 147,207. The business has a fifty day moving average of $23.58 and a 200-day moving average of $22.92. The stock has a market cap of $292.06 million, a price-to-earnings ratio of 20.21 and a beta of 0.82. Aviat Networks has a twelve month low of $18.40 and a twelve month high of $27.02. The company has a current ratio of 1.85, a quick ratio of 1.56 and a debt-to-equity ratio of 0.37.

Insider Activity at Aviat Networks

In other news, SVP Gary Croke sold 6,914 shares of the stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $26.20, for a total value of $181,146.80. Following the sale, the senior vice president directly owned 43,868 shares in the company, valued at $1,149,341.60. This represents a 13.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Pete A. Smith sold 17,086 shares of the stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $26.33, for a total transaction of $449,874.38. Following the completion of the sale, the chief executive officer owned 358,747 shares in the company, valued at $9,445,808.51. This represents a 4.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 5.30% of the stock is owned by corporate insiders.

Institutional Trading of Aviat Networks

Several large investors have recently modified their holdings of AVNW. Comerica Bank grew its position in shares of Aviat Networks by 40.2% in the first quarter. Comerica Bank now owns 2,720 shares of the communications equipment provider's stock valued at $52,000 after purchasing an additional 780 shares during the last quarter. Royal Bank of Canada grew its position in shares of Aviat Networks by 290.7% in the first quarter. Royal Bank of Canada now owns 40,874 shares of the communications equipment provider's stock valued at $783,000 after purchasing an additional 30,413 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Aviat Networks by 20.6% in the first quarter. AQR Capital Management LLC now owns 84,954 shares of the communications equipment provider's stock valued at $1,629,000 after purchasing an additional 14,498 shares during the last quarter. Jane Street Group LLC grew its position in shares of Aviat Networks by 6.9% in the first quarter. Jane Street Group LLC now owns 26,070 shares of the communications equipment provider's stock valued at $500,000 after purchasing an additional 1,683 shares during the last quarter. Finally, Rhumbline Advisers grew its position in shares of Aviat Networks by 6.7% in the second quarter. Rhumbline Advisers now owns 18,341 shares of the communications equipment provider's stock valued at $441,000 after purchasing an additional 1,148 shares during the last quarter. 78.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on AVNW. Zacks Research upgraded shares of Aviat Networks from a "strong sell" rating to a "hold" rating in a research report on Friday, January 23rd. Citizens Jmp restated a "market outperform" rating and set a $30.00 target price on shares of Aviat Networks in a research report on Wednesday, February 4th. Roth Mkm lowered their target price on shares of Aviat Networks from $41.00 to $38.00 and set a "buy" rating on the stock in a research report on Wednesday, February 4th. B. Riley Financial restated a "buy" rating and set a $36.00 target price (up from $35.00) on shares of Aviat Networks in a research report on Wednesday, February 4th. Finally, Wall Street Zen lowered shares of Aviat Networks from a "buy" rating to a "hold" rating in a research report on Sunday, April 26th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.50.

About Aviat Networks

Aviat Networks, Inc is a specialist in wireless transport solutions, designing, manufacturing and selling microwave networking products that enable the secure and reliable transmission of data, voice and video. The company's offerings address mission-critical communications needs for a broad range of end markets, including telecommunications service providers, utilities, government agencies and enterprises. Its product portfolio spans high-capacity packet microwave radios, IP transport systems and network management software.

Aviat's core product lines include the WTM series of packet microwave platforms, which deliver scalable throughput and advanced resilience features, and the Eclipse packet microwave systems, which combine broadband capacity with synchronization, security and quality-of-service capabilities.

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