Aviat Networks (NASDAQ:AVNW) Announces Quarterly Earnings Results

Aviat Networks (NASDAQ:AVNW) posted its quarterly earnings data on Tuesday. The communications equipment provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.57, Zacks reports. Aviat Networks had a negative net margin of 0.98% and a positive return on equity of 4.94%.

Aviat Networks Stock Up 5.1 %

Shares of NASDAQ AVNW traded up $1.00 during mid-day trading on Tuesday, reaching $20.55. 466,112 shares of the company’s stock traded hands, compared to its average volume of 159,529. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.72 and a quick ratio of 1.40. Aviat Networks has a 1-year low of $12.95 and a 1-year high of $38.85. The stock has a market cap of $260.78 million, a P/E ratio of -66.29 and a beta of 1.68. The business has a 50-day simple moving average of $17.94 and a 200 day simple moving average of $21.29.

Insider Buying and Selling

In related news, CFO Michael Connaway bought 3,500 shares of the company’s stock in a transaction on Friday, November 8th. The shares were purchased at an average price of $14.13 per share, for a total transaction of $49,455.00. Following the completion of the transaction, the chief financial officer now directly owns 57,893 shares in the company, valued at approximately $818,028.09. The trade was a 6.43 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Pete A. Smith purchased 3,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were bought at an average price of $14.13 per share, for a total transaction of $42,390.00. Following the completion of the transaction, the chief executive officer now owns 298,539 shares of the company’s stock, valued at approximately $4,218,356.07. This trade represents a 1.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 7,400 shares of company stock worth $106,110 in the last quarter. Insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. JMP Securities restated a “market outperform” rating and set a $50.00 price objective on shares of Aviat Networks in a research note on Tuesday, October 8th. Northland Securities decreased their price target on Aviat Networks from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. StockNews.com cut shares of Aviat Networks from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Roth Mkm decreased their target price on shares of Aviat Networks from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, Lake Street Capital lowered their target price on Aviat Networks from $45.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Aviat Networks has an average rating of “Moderate Buy” and a consensus price target of $38.60.

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.