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

Aviat Networks (NASDAQ:AVNW) issued 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 during the quarter, compared to analyst estimates of $113.56 million. Aviat Networks had a net margin of 4.23% and a return on equity of 15.11%. During the same period 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

AVNW stock traded down $5.44 during mid-day trading on Thursday, hitting $28.53. The stock had a trading volume of 601,053 shares, compared to its average volume of 110,462. The company has a current ratio of 2.00, a quick ratio of 1.63 and a debt-to-equity ratio of 0.19. Aviat Networks has a 52 week low of $21.15 and a 52 week high of $38.85. The firm has a market capitalization of $358.05 million, a P/E ratio of 22.44 and a beta of 1.78. The firm has a fifty day simple moving average of $35.12 and a 200 day simple moving average of $32.33.

Wall Street Analyst Weigh In

Several research analysts have recently commented on AVNW shares. JMP Securities reaffirmed a “market outperform” rating and set a $50.00 target price on shares of Aviat Networks in a report on Monday, February 5th. B. Riley reduced their target price on Aviat Networks from $59.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday. Finally, StockNews.com raised Aviat Networks from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Aviat Networks presently has a consensus rating of “Moderate Buy” and an average target price of $53.75.

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.