RF Industries (NASDAQ:RFIL) Announces Quarterly Earnings Results

RF Industries (NASDAQ:RFIL) announced its quarterly earnings data on Monday. The electronics maker reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.03, FiscalAI reports. The firm had revenue of $18.97 million for the quarter, compared to analyst estimates of $18.72 million. RF Industries had a net margin of 0.09% and a return on equity of 10.08%.

RF Industries Stock Performance

RFIL traded up $1.48 during midday trading on Monday, reaching $11.69. 894,222 shares of the company were exchanged, compared to its average volume of 258,956. The company has a market cap of $125.20 million, a price-to-earnings ratio of 584.79 and a beta of 0.99. RF Industries has a one year low of $3.39 and a one year high of $13.09. The company’s fifty day moving average price is $10.03 and its 200 day moving average price is $8.11.

Analysts Set New Price Targets

RFIL has been the subject of a number of research analyst reports. B. Riley Financial lowered RF Industries from a “buy” rating to a “neutral” rating and set a $10.25 target price for the company. in a research report on Thursday, February 19th. Zacks Research raised RF Industries from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 16th. Finally, Weiss Ratings upgraded RF Industries from a “sell (d-)” rating to a “hold (c-)” rating in a report on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $10.25.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in RF Industries by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 103,152 shares of the electronics maker’s stock worth $596,000 after buying an additional 2,718 shares in the last quarter. Bridgeway Capital Management LLC boosted its holdings in RF Industries by 38.1% during 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. State Street Corp grew its stake in shares of RF Industries by 6.4% in the 4th quarter. State Street Corp now owns 38,484 shares of the electronics maker’s stock worth $222,000 after acquiring an additional 2,300 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of RF Industries in the fourth quarter valued at about $190,000. Finally, NewEdge Advisors LLC lifted its position in shares of RF Industries by 984.2% during the third quarter. NewEdge Advisors LLC now owns 21,684 shares of the electronics maker’s stock valued at $178,000 after purchasing an additional 19,684 shares in the last quarter. Hedge funds and other institutional investors own 23.49% of the company’s stock.

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.