Aviat Networks (NASDAQ:AVNW) Posts Earnings Results, Misses Expectations By $0.01 EPS

Aviat Networks (NASDAQ:AVNW - Get Free Report) posted its quarterly earnings results on Wednesday. The communications equipment provider reported $0.58 EPS for the quarter, missing analysts' consensus estimates of $0.59 by ($0.01), Zacks reports. The company had revenue of $111.61 million during the quarter, compared to analyst estimates of $113.56 million. Aviat Networks had a net margin of 4.23% and a return on equity of 15.11%. During the same period last year, the firm earned $0.61 EPS. Aviat Networks updated its FY 2024 guidance to EPS.

Aviat Networks Trading Down 16.4 %

Shares of NASDAQ:AVNW traded down $5.57 during midday trading on Thursday, hitting $28.40. 885,086 shares of the stock were exchanged, compared to its average volume of 114,031. The stock has a market capitalization of $356.36 million, a price-to-earnings ratio of 22.44 and a beta of 1.78. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.63 and a current ratio of 2.00. The business's 50-day moving average price is $35.12 and its 200 day moving average price is $32.33. Aviat Networks has a 12 month low of $21.15 and a 12 month high of $38.85.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. B. Riley lowered their target price on Aviat Networks from $59.00 to $55.00 and set a "buy" rating for the company in a research note on Thursday. JMP Securities reissued a "market outperform" rating and set a $50.00 target price on shares of Aviat Networks in a research note on Monday, February 5th. Finally, StockNews.com raised Aviat Networks from a "sell" rating to a "hold" rating in a research note on Thursday, April 4th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $53.75.

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.