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

Aviat Networks (NASDAQ:AVNW) posted its quarterly earnings data on Wednesday. The communications equipment provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01), Zacks reports. The firm had revenue of $111.61 million for the quarter, compared to analysts’ expectations of $113.56 million. Aviat Networks had a net margin of 4.23% and a return on equity of 15.11%. During the same quarter last year, the company posted $0.61 EPS. Aviat Networks updated its FY 2024 guidance to EPS.

Aviat Networks Price Performance

NASDAQ AVNW traded down $5.88 during trading on Thursday, hitting $28.09. 511,165 shares of the stock traded hands, compared to its average volume of 109,335. The company has a market capitalization of $352.53 million, a P/E ratio of 21.95 and a beta of 1.78. The firm has a 50-day simple moving average of $35.12 and a 200-day simple moving average of $32.33. The company has a quick ratio of 1.63, a current ratio of 2.00 and a debt-to-equity ratio of 0.19. Aviat Networks has a 12-month low of $21.15 and a 12-month high of $38.85.

Analyst Ratings Changes

AVNW has been the subject of a number of research reports. JMP Securities reiterated a “market outperform” rating and set a $50.00 price objective on shares of Aviat Networks in a research report on Monday, February 5th. StockNews.com upgraded Aviat Networks from a “sell” rating to a “hold” rating in a research report on Thursday, April 4th. Finally, B. Riley reduced their price target on Aviat Networks from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Wednesday, February 7th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $54.75.

Aviat Networks Company Profile

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.