Resonant Inc. (NASDAQ:RESN) Expected to Post Earnings of -$0.11 Per Share

Wall Street brokerages expect that Resonant Inc. (NASDAQ:RESN) will post ($0.11) earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Resonant’s earnings. Resonant posted earnings of ($0.09) per share in the same quarter last year, which suggests a negative year-over-year growth rate of 22.2%. The firm is expected to issue its next earnings results on Tuesday, November 9th.

On average, analysts expect that Resonant will report full year earnings of ($0.40) per share for the current financial year, with EPS estimates ranging from ($0.41) to ($0.39). For the next financial year, analysts expect that the business will report earnings of ($0.20) per share, with EPS estimates ranging from ($0.24) to ($0.16). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Resonant.

Resonant (NASDAQ:RESN) last announced its quarterly earnings results on Wednesday, August 11th. The semiconductor company reported ($0.11) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.02. Resonant had a negative net margin of 961.22% and a negative return on equity of 138.45%.

A number of brokerages have recently issued reports on RESN. Benchmark started coverage on shares of Resonant in a report on Tuesday, July 27th. They set a “buy” rating and a $6.00 price target on the stock. Craig Hallum reissued a “buy” rating and issued a $6.00 price objective on shares of Resonant in a research note on Wednesday, July 28th. Finally, Zacks Investment Research lowered Resonant from a “hold” rating to a “sell” rating in a research report on Friday, August 20th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $5.65.

Hedge funds and other institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company increased its holdings in Resonant by 16.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 29,920 shares of the semiconductor company’s stock worth $127,000 after acquiring an additional 4,227 shares during the period. BlackRock Inc. boosted its stake in Resonant by 15.7% during the first quarter. BlackRock Inc. now owns 3,345,300 shares of the semiconductor company’s stock worth $14,184,000 after buying an additional 453,198 shares during the period. Russell Investments Group Ltd. bought a new position in Resonant in the first quarter worth about $449,000. JPMorgan Chase & Co. boosted its position in Resonant by 71.9% in the first quarter. JPMorgan Chase & Co. now owns 216,699 shares of the semiconductor company’s stock valued at $919,000 after buying an additional 90,644 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Resonant by 22.1% during the 1st quarter. Geode Capital Management LLC now owns 804,700 shares of the semiconductor company’s stock valued at $3,411,000 after buying an additional 145,433 shares in the last quarter. 24.59% of the stock is currently owned by institutional investors.

NASDAQ:RESN traded up $0.04 on Friday, reaching $2.56. 16,202 shares of the stock traded hands, compared to its average volume of 1,561,438. The company has a market capitalization of $161.34 million, a price-to-earnings ratio of -4.67 and a beta of 2.18. The company has a current ratio of 4.25, a quick ratio of 4.25 and a debt-to-equity ratio of 0.01. Resonant has a 12 month low of $2.09 and a 12 month high of $8.33. The company’s fifty day simple moving average is $2.79 and its 200 day simple moving average is $3.39.

Resonant Company Profile

Resonant, Inc engages in the creation of filter designs for radio frequency front-ends for the mobile device industry. It focuses on developing its software platform, Infinite Synthesized Networks. The company was founded by Neal Fenzi and Robert B. Hammond in January 2012 and is headquartered in Austin, TX.

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