PC Tel (NASDAQ:PCTI) Releases Earnings Results, Beats Expectations By $0.06 EPS

PC Tel (NASDAQ:PCTI) issued its quarterly earnings data on Thursday. The Wireless communications provider reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.06, Bloomberg Earnings reports. PC Tel had a negative net margin of 12.16% and a negative return on equity of 0.48%. The business had revenue of $23.50 million during the quarter, compared to analysts’ expectations of $22.40 million.

NASDAQ:PCTI traded up $1.14 during trading hours on Friday, hitting $5.67. 305,742 shares of the company traded hands, compared to its average volume of 37,879. The company has a market capitalization of $83.43 million, a PE ratio of -24.65 and a beta of 0.03. PC Tel has a twelve month low of $3.88 and a twelve month high of $6.00. The stock’s 50-day moving average price is $4.77.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 8th will be paid a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a yield of 3.88%. The ex-dividend date is Wednesday, August 7th. PC Tel’s payout ratio is currently -95.65%.

PCTI has been the subject of a number of analyst reports. Lake Street Capital upgraded shares of PC Tel from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $5.00 to $6.00 in a research note on Friday. Zacks Investment Research upgraded shares of PC Tel from a “hold” rating to a “buy” rating and set a $5.00 price objective for the company in a research note on Saturday. ValuEngine upgraded shares of PC Tel from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, B. Riley upgraded shares of PC Tel from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $5.00 to $6.50 in a research note on Friday.

About PC Tel

PCTEL, Inc, together with its subsidiaries, delivers performance critical telecom solutions in the Asia Pacific, Europe, the Middle East, Africa, and the Americas. The company designs and manufactures precision antennas, which are used primarily in small cells, enterprise Wi-Fi access points, fleet management and transit systems, and in equipment and devices for the Industrial Internet of Things.

See Also: Why Invest in Dividend Achievers?

Earnings History for PC Tel (NASDAQ:PCTI)

Receive News & Ratings for PC Tel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PC Tel and related companies with MarketBeat.com's FREE daily email newsletter.