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

Posted by Ethan Ryder on May 4th, 2024

Aviat Networks (NASDAQ:AVNW – Get Free Report) announced its quarterly earnings results on Wednesday. The communications equipment provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.01), Zacks reports. Aviat Networks had a net margin of 3.54% and a return on equity of 14.54%. The company had revenue of $111.61 million during the quarter, compared to analysts’ expectations of $113.56 million. During the same quarter in the prior year, the company earned $0.61 earnings per share. Aviat Networks updated its FY 2024 guidance to EPS.

Aviat Networks Price Performance

Aviat Networks stock opened at $29.91 on Friday. The business has a fifty day moving average of $34.92 and a two-hundred day moving average of $32.32. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.63 and a current ratio of 2.12. The company has a market cap of $375.67 million, a P/E ratio of 26.47 and a beta of 1.78. Aviat Networks has a one year low of $21.15 and a one year high of $38.85.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. JMP Securities reaffirmed a “market outperform” rating and set a $50.00 price objective on shares of Aviat Networks in a report on Monday, February 5th. StockNews.com upgraded shares of Aviat Networks from a “hold” rating to a “buy” rating in a research note on Friday. Finally, B. Riley dropped their price target on shares of Aviat Networks from $59.00 to $55.00 and set a “buy” rating on the stock in a research note on Thursday. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $53.75.

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Aviat Networks Company Profile

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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.