RF Industries (NASDAQ:RFIL) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Key Points

• RF Industries reported quarterly EPS of $0.19, falling $0.01 short of analysts’ $0.20 consensus estimate, while revenue of $23.96 million exceeded expectations of $23.28 million.
• The stock opened at $10.32, with a market capitalization of approximately $111.97 million and shares trading well below their 12-month high of $22.30.
• Analyst sentiment remains generally positive but mixed: the stock has a “Moderate Buy” consensus rating and an average price target of $17.00, while institutional investors own 23.49% of the company.

RF Industries (NASDAQ:RFIL - Get Free Report) posted its quarterly earnings data on Monday. The electronics maker reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.01), FiscalAI reports. RF Industries had a return on equity of 12.79% and a net margin of 1.70%.The firm had revenue of $23.96 million for the quarter, compared to the consensus estimate of $23.28 million.

RF Industries Price Performance

NASDAQ:RFIL opened at $10.32 on Monday. The business's 50-day moving average price is $12.60 and its two-hundred day moving average price is $14.05. The stock has a market cap of $111.97 million, a P/E ratio of 73.72 and a beta of 1.29. RF Industries has a twelve month low of $5.54 and a twelve month high of $22.30.

Institutional Investors Weigh In On RF Industries

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. purchased a new stake in RF Industries during the 1st quarter valued at $56,000. Vanguard Group Inc. grew its position in RF Industries by 5.5% during the 3rd quarter. Vanguard Group Inc. now owns 391,659 shares of the electronics maker's stock valued at $3,223,000 after purchasing an additional 20,536 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in RF Industries during the 3rd quarter valued at about $1,651,000. Bridgeway Capital Management LLC raised its holdings in RF Industries by 38.1% in the 3rd quarter. Bridgeway Capital Management LLC now owns 66,676 shares of the electronics maker's stock worth $549,000 after acquiring an additional 18,380 shares during the last quarter. Finally, Two Sigma Investments LP purchased a new stake in shares of RF Industries during the 3rd quarter valued at about $169,000. Institutional investors own 23.49% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Zacks Research lowered RF Industries from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 20th. Lake Street Capital started coverage on RF Industries in a report on Thursday, August 13th. They set a "buy" rating and a $19.00 target price for the company. Wall Street Zen downgraded RF Industries from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 25th. B. Riley Financial upgraded shares of RF Industries from a "neutral" rating to a "buy" rating and dropped their target price for the company from $18.00 to $15.00 in a research report on Friday, August 21st. Finally, Weiss Ratings lowered RF Industries from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $17.00.

RF Industries Company Profile

RF Industries, Inc NASDAQ: RFIL is a manufacturer and supplier of connectivity products and solutions for the wireless, broadcast, cable television, data networking, defense and aerospace markets. The company specializes in both standard and custom coaxial and fiber-optic cable assemblies, connectors, adapters and test accessories designed to withstand demanding environmental conditions. Through its product portfolio, RF Industries supports applications ranging from RF signal transmission and satellite communications to industrial automation and instrumentation.

The company's offerings include premade and build-to-print coaxial cables and assemblies, field-installable connectors, power distribution components and calibration-grade test equipment.

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