Frequency Electronics (NASDAQ:FEIM) Issues Earnings Results

Key Points

• Frequency Electronics reported a quarterly earnings per share (EPS) of $0.07, significantly missing analysts' estimates of $0.36, compared to $0.25 EPS for the same period last year.
• Despite the earnings miss, Frequency Electronics' stock increased by 5.2% to $34.35, with a trading volume of 589,640 shares, far above its average of 181,347 shares.
• Institutional investors are showing significant interest in Frequency Electronics, with Bank of America Corp increasing its holdings by over 3,558% in the last quarter.

Frequency Electronics (NASDAQ:FEIM - Get Free Report) issued its quarterly earnings data on Thursday. The communications equipment provider reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.29), RTT News reports. Frequency Electronics had a return on equity of 53.83% and a net margin of 34.09%.During the same period in the prior year, the business earned $0.25 EPS.

Frequency Electronics Stock Up 5.2%

FEIM stock traded up $1.70 during trading on Thursday, reaching $34.35. The stock had a trading volume of 589,640 shares, compared to its average volume of 181,347. The company has a market capitalization of $334.91 million, a price-to-earnings ratio of 13.91 and a beta of 0.50. Frequency Electronics has a one year low of $11.71 and a one year high of $34.84. The company's 50 day moving average is $27.40 and its two-hundred day moving average is $21.04.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered Frequency Electronics from a "buy" rating to a "hold" rating in a report on Friday, July 18th.

Hedge Funds Weigh In On Frequency Electronics

Several institutional investors have recently modified their holdings of the business. Bank of America Corp DE increased its position in shares of Frequency Electronics by 3,558.9% during the second quarter. Bank of America Corp DE now owns 2,671 shares of the communications equipment provider's stock valued at $61,000 after acquiring an additional 2,598 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Frequency Electronics in the second quarter worth $82,000. Lazard Asset Management LLC grew its stake in Frequency Electronics by 10,807.7% in the 2nd quarter. Lazard Asset Management LLC now owns 4,254 shares of the communications equipment provider's stock valued at $96,000 after purchasing an additional 4,215 shares during the period. New York State Common Retirement Fund purchased a new stake in shares of Frequency Electronics during the 2nd quarter valued at $100,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Frequency Electronics during the 2nd quarter valued at $112,000. 58.60% of the stock is owned by institutional investors.

Frequency Electronics Company Profile

Frequency Electronics, Inc, together with its subsidiaries, engages in designing, development, and manufacturing of precision time and frequency control products and components for microwave integrated circuit applications. It operates through two segments, FEI-NY and FEI-Zyfer. The FEI-NY segment offers precision time and frequency control products for communication satellites, terrestrial cellular telephone or other ground-based telecommunication stations; and other components and systems for the U.S.

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