Aviat Networks (NASDAQ:AVNW) Announces Quarterly Earnings Results

Aviat Networks (NASDAQ:AVNW) released its 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. The firm had revenue of $111.61 million during the quarter, compared to analysts’ expectations of $113.56 million. Aviat Networks had a return on equity of 15.11% and a net margin of 4.23%. During the same period in the previous year, the firm posted $0.61 earnings per share. Aviat Networks updated its FY 2024 guidance to EPS.

Aviat Networks Stock Down 16.8 %

Aviat Networks stock traded down $5.69 during trading hours on Thursday, hitting $28.28. The company had a trading volume of 584,912 shares, compared to its average volume of 110,246. The firm has a market capitalization of $354.91 million, a P/E ratio of 22.12 and a beta of 1.78. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.00 and a quick ratio of 1.63. The firm’s fifty day moving average is $35.12 and its 200-day moving average is $32.33. Aviat Networks has a fifty-two week low of $21.15 and a fifty-two week high of $38.85.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on AVNW shares. B. Riley reduced their target price on shares of Aviat Networks from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Wednesday, February 7th. StockNews.com raised shares of Aviat Networks from a “sell” rating to a “hold” rating in a research report on Thursday, April 4th. Finally, JMP Securities reissued a “market outperform” rating and issued a $50.00 target price on shares of Aviat Networks in a research report on Monday, February 5th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.75.

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.