Frequency Electronics (NASDAQ:FEIM) Releases Quarterly Earnings Results, Beats Expectations By $0.26 EPS

Frequency Electronics (NASDAQ:FEIM) issued its earnings results on Thursday. The communications equipment provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.26, FiscalAI reports. Frequency Electronics had a negative net margin of 1.43% and a negative return on equity of 1.56%. The company had revenue of $23.45 million for the quarter, compared to analysts’ expectations of $17.85 million.

Frequency Electronics Stock Down 2.5%

Frequency Electronics stock traded down $1.58 during mid-day trading on Thursday, reaching $62.06. 233,602 shares of the company’s stock were exchanged, compared to its average volume of 226,742. The company has a fifty day moving average of $65.59 and a 200-day moving average of $60.53. The company has a market cap of $693.71 million, a P/E ratio of -689.56 and a beta of 0.72. Frequency Electronics has a twelve month low of $26.05 and a twelve month high of $80.60.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FEIM. Weiss Ratings downgraded Frequency Electronics from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, September 2nd. Wall Street Zen raised shares of Frequency Electronics from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 4th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $43.67.

Hedge Funds Weigh In On Frequency Electronics

Several hedge funds have recently added to or reduced their stakes in FEIM. Kestra Advisory Services LLC acquired a new position in Frequency Electronics during the fourth quarter worth approximately $27,000. Informed Momentum Co LLC grew its stake in Frequency Electronics by 1.2% in the 4th quarter. Informed Momentum Co LLC now owns 47,007 shares of the communications equipment provider’s stock valued at $2,531,000 after acquiring an additional 541 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Frequency Electronics by 2.7% during the 4th quarter. First Trust Advisors LP now owns 21,628 shares of the communications equipment provider’s stock worth $1,164,000 after purchasing an additional 569 shares in the last quarter. Police & Firemen s Retirement System of New Jersey increased its position in Frequency Electronics by 52.2% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 2,010 shares of the communications equipment provider’s stock worth $108,000 after buying an additional 689 shares in the last quarter. Finally, New York State Common Retirement Fund raised its holdings in Frequency Electronics by 63.6% in the 4th quarter. New York State Common Retirement Fund now owns 1,800 shares of the communications equipment provider’s stock valued at $97,000 after acquiring an additional 700 shares during the last quarter. 58.60% of the stock is currently owned by hedge funds and other institutional investors.

Frequency Electronics Company Profile

Frequency Electronics, Inc (NASDAQ:FEIM) is a U.S.-based designer and manufacturer of precision frequency control products and timing solutions. The company’s portfolio includes oven-controlled crystal oscillators (OCXOs), atomic frequency standards such as rubidium oscillators, GPS-disciplined oscillators (GPSDOs), microwave synthesizers, and integrated timing subsystems. These products are used to provide stable and accurate frequency and time references for applications that demand high performance and reliability.

FEI serves a broad range of markets, including telecommunications, aerospace and defense, satellite and space systems, test and measurement equipment, and critical infrastructure.