Aviat Networks (NASDAQ:AVNW) Announces Quarterly Earnings Results

Aviat Networks (NASDAQ:AVNW) announced its quarterly earnings data on Wednesday. The communications equipment provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01), Zacks reports. Aviat Networks had a net margin of 3.54% and a return on equity of 14.54%. The business had revenue of $111.61 million during the quarter, compared to analyst estimates of $113.56 million. During the same quarter in the prior year, the company posted $0.61 EPS. Aviat Networks updated its FY 2024 guidance to EPS.

Aviat Networks Price Performance

Shares of NASDAQ AVNW opened at $29.91 on Friday. The company has a fifty day moving average price of $34.92 and a 200 day moving average price of $32.32. The firm has a market cap of $375.67 million, a PE ratio of 26.47 and a beta of 1.78. The company has a current ratio of 2.12, a quick ratio of 1.63 and a debt-to-equity ratio of 0.18. Aviat Networks has a 1-year low of $21.15 and a 1-year high of $38.85.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AVNW. JMP Securities restated a “market outperform” rating and issued a $50.00 target price on shares of Aviat Networks in a research note on Monday, February 5th. B. Riley reduced their price target on Aviat Networks from $59.00 to $55.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, StockNews.com upgraded shares of Aviat Networks from a “hold” rating to a “buy” rating in a report on Friday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target 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.