Aviat Networks (NASDAQ:AVNW) Releases Quarterly Earnings Results, Misses Estimates By $0.36 EPS

by · The Cerbat Gem

Aviat Networks (NASDAQ:AVNWGet Free Report) announced its quarterly earnings data on Monday. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.36), FiscalAI reports. The firm had revenue of $100.00 million for the quarter, compared to analysts’ expectations of $106.39 million. Aviat Networks had a net margin of 3.27% and a return on equity of 10.71%.

Aviat Networks Trading Down 2.1%

NASDAQ:AVNW traded down $0.48 during trading hours on Monday, reaching $22.64. 198,177 shares of the company were exchanged, compared to its average volume of 147,207. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.85 and a quick ratio of 1.56. The firm has a market cap of $292.06 million, a price-to-earnings ratio of 20.21 and a beta of 0.82. Aviat Networks has a 52-week low of $18.40 and a 52-week high of $27.02. The stock has a 50 day simple moving average of $23.58 and a 200 day simple moving average of $22.92.

Analyst Ratings Changes

AVNW has been the topic of several recent analyst reports. Zacks Research raised shares of Aviat Networks from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. Wall Street Zen downgraded shares of Aviat Networks from a “buy” rating to a “hold” rating in a research note on Sunday, April 26th. B. Riley Financial reissued a “buy” rating and set a $36.00 price objective (up from $35.00) on shares of Aviat Networks in a research note on Wednesday, February 4th. Roth Mkm reduced their price objective on shares of Aviat Networks from $41.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, February 4th. Finally, Citizens Jmp reissued a “market outperform” rating and set a $30.00 price objective on shares of Aviat Networks in a research note on Wednesday, February 4th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Aviat Networks has an average rating of “Moderate Buy” and a consensus price target of $34.50.

Check Out Our Latest Analysis on Aviat Networks

Insider Buying and Selling

In other Aviat Networks news, SVP Gary Croke sold 6,914 shares of the stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $26.20, for a total transaction of $181,146.80. Following the transaction, the senior vice president owned 43,868 shares of the company’s stock, valued at $1,149,341.60. This trade represents a 13.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Pete A. Smith sold 17,086 shares of the stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $26.33, for a total transaction of $449,874.38. Following the transaction, the chief executive officer directly owned 358,747 shares in the company, valued at approximately $9,445,808.51. This represents a 4.55% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On Aviat Networks

Several large investors have recently made changes to their positions in AVNW. Quarry LP acquired a new stake in shares of Aviat Networks in the third quarter worth $27,000. Raymond James Financial Inc. acquired a new stake in shares of Aviat Networks in the second quarter worth $28,000. BNP Paribas Financial Markets increased its position in shares of Aviat Networks by 96.5% in the third quarter. BNP Paribas Financial Markets now owns 2,281 shares of the communications equipment provider’s stock worth $52,000 after acquiring an additional 1,120 shares in the last quarter. Comerica Bank increased its position in shares of Aviat Networks by 40.2% in the first quarter. Comerica Bank now owns 2,720 shares of the communications equipment provider’s stock worth $52,000 after acquiring an additional 780 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Aviat Networks in the fourth quarter worth $69,000. Institutional investors and hedge funds own 78.62% of the company’s stock.

About Aviat Networks

(Get Free Report)

Aviat Networks, Inc is a specialist in wireless transport solutions, designing, manufacturing and selling microwave networking products that enable the secure and reliable transmission of data, voice and video. The company’s offerings address mission-critical communications needs for a broad range of end markets, including telecommunications service providers, utilities, government agencies and enterprises. Its product portfolio spans high-capacity packet microwave radios, IP transport systems and network management software.

Aviat’s core product lines include the WTM series of packet microwave platforms, which deliver scalable throughput and advanced resilience features, and the Eclipse packet microwave systems, which combine broadband capacity with synchronization, security and quality-of-service capabilities.

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