Ixia (XXIA) Posts Quarterly Earnings, Beats Expectations By $0.01 EPS
Ixia (NASDAQ:XXIA) issued its quarterly earnings data on Tuesday. The company reported $0.18 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.17 by $0.01, American Banking and Market News reports. The company had revenue of $115.40 million for the quarter, compared to the consensus estimate of $114.97 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. The company’s revenue for the quarter was up 4.3% on a year-over-year basis.
A number of research firms have recently commented on XXIA. Analysts at Wunderlich downgraded shares of Ixia from a “buy” rating to a “hold” rating in a research note to investors on Friday. They now have a $18.00 price target on the stock. On a related note, analysts at Jefferies Group initiated coverage on shares of Ixia in a research note to investors on Friday, August 9th. They set a “buy” rating and a $15.60 price target on the stock. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Ixia currently has a consensus rating of “Hold” and an average target price of $18.23.
Shares of Ixia (NASDAQ:XXIA) traded up 0.34% during mid-day trading on Tuesday, hitting $14.56. The stock had a trading volume of 763,848 shares. Ixia has a 52 week low of $13.00 and a 52 week high of $22.50. The stock has a 50-day moving average of $15.16 and a 200-day moving average of $16.83. The company has a market cap of $1.105 billion and a P/E ratio of 41.58.
Ixia is a provider of converged Internet Protocol test systems and services for wireless and wired infrastructures and services.
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