RF Industries (NASDAQ:RFIL) Issues Quarterly Earnings Results

RF Industries (NASDAQ:RFIL) announced its quarterly earnings results on Monday. The electronics maker reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.05, FiscalAI reports. RF Industries had a net margin of 0.34% and a return on equity of 10.54%. The firm had revenue of $20.69 million during the quarter, compared to analysts’ expectations of $19.67 million.

RF Industries Price Performance

Shares of RFIL traded down $0.63 during trading hours on Monday, hitting $18.12. 575,591 shares of the stock were exchanged, compared to its average volume of 255,524. RF Industries has a fifty-two week low of $4.08 and a fifty-two week high of $20.00. The business has a 50-day moving average of $15.53 and a 200-day moving average of $11.23. The firm has a market capitalization of $195.88 million, a P/E ratio of 453.11 and a beta of 1.30.

Institutional Investors Weigh In On RF Industries

Several large investors have recently modified their holdings of RFIL. Goldman Sachs Group Inc. acquired a new stake in shares of RF Industries during the first quarter worth $56,000. Vanguard Group Inc. increased its position in shares of RF Industries by 5.5% during the third quarter. Vanguard Group Inc. now owns 391,659 shares of the electronics maker’s stock worth $3,223,000 after buying an additional 20,536 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of RF Industries during the third quarter worth $1,651,000. Bridgeway Capital Management LLC increased its position in shares of RF Industries by 38.1% during the third quarter. Bridgeway Capital Management LLC now owns 66,676 shares of the electronics maker’s stock worth $549,000 after buying an additional 18,380 shares during the period. Finally, Two Sigma Investments LP acquired a new stake in shares of RF Industries during the third quarter worth $169,000. 23.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wall Street Zen lowered RF Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 28th. Weiss Ratings upgraded RF Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, June 2nd. B. Riley Financial upped their price target on RF Industries from $10.25 to $11.25 and gave the company a “neutral” rating in a research report on Tuesday, March 17th. Finally, Zacks Research lowered RF Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, RF Industries has a consensus rating of “Hold” and an average target price of $11.25.

RF Industries Company Profile

RF Industries, Inc (NASDAQ: RFIL) is a manufacturer and supplier of connectivity products and solutions for the wireless, broadcast, cable television, data networking, defense and aerospace markets. The company specializes in both standard and custom coaxial and fiber-optic cable assemblies, connectors, adapters and test accessories designed to withstand demanding environmental conditions. Through its product portfolio, RF Industries supports applications ranging from RF signal transmission and satellite communications to industrial automation and instrumentation.

The company’s offerings include premade and build-to-print coaxial cables and assemblies, field-installable connectors, power distribution components and calibration-grade test equipment.