$24.09 Million in Sales Expected for PC Tel Inc (PCTI) This Quarter
Wall Street analysts expect PC Tel Inc (NASDAQ:PCTI) to report $24.09 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for PC Tel’s earnings. The lowest sales estimate is $24 million and the highest is $24.18 million. PC Tel reported sales of $24.24 million during the same quarter last year, which indicates a negative year-over-year growth rate of 0.6%. The firm is expected to report its next quarterly earnings results on Tuesday, August 1st.
On average, analysts expect that PC Tel will report full-year sales of $24.09 million for the current fiscal year, with estimates ranging from $99.25 million to $100.9 million. For the next fiscal year, analysts forecast that the company will report sales of $104.84 million per share, with estimates ranging from $104.68 million to $105 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow PC Tel.
PC Tel (NASDAQ:PCTI) last issued its earnings results on Tuesday, May 9th. The Wireless communications provider reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The business had revenue of $25 million during the quarter, compared to analyst estimates of $24.23 million. PC Tel had a positive return on equity of 0.32% and a negative net margin of 13.70%. PC Tel’s revenue was up 18.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.03) earnings per share.
Several analysts recently issued reports on the company. B. Riley restated a “buy” rating and issued a $9.00 price target on shares of PC Tel in a research note on Saturday, May 13th. Wunderlich downgraded PC Tel from a “buy” rating to a “hold” rating and set a $8.00 price target for the company. in a research note on Wednesday, May 10th. Zacks Investment Research downgraded PC Tel from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 10th. Finally, Lake Street Capital assumed coverage on PC Tel in a research note on Wednesday, April 12th. They issued a “buy” rating and a $8.00 price target for the company.
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PC Tel (NASDAQ:PCTI) opened at 6.40 on Friday. PC Tel has a 52 week low of $4.40 and a 52 week high of $8.48. The firm’s market capitalization is $105.45 million. The company has a 50 day moving average price of $7.24 and a 200-day moving average price of $5.90.
The company also recently declared a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Monday, May 8th were paid a $0.05 dividend. The ex-dividend date of this dividend was Thursday, May 4th. This represents a $0.20 annualized dividend and a yield of 3.15%. PC Tel’s dividend payout ratio (DPR) is presently -24.39%.
A number of hedge funds have recently added to or reduced their stakes in PCTI. Goldman Sachs Group Inc. increased its stake in PC Tel by 104.4% in the first quarter. Goldman Sachs Group Inc. now owns 69,441 shares of the Wireless communications provider’s stock valued at $494,000 after buying an additional 35,476 shares during the period. Renaissance Technologies LLC increased its stake in PC Tel by 9.3% in the first quarter. Renaissance Technologies LLC now owns 1,367,099 shares of the Wireless communications provider’s stock valued at $9,734,000 after buying an additional 115,800 shares during the period. Morgan Stanley increased its stake in PC Tel by 28.4% in the first quarter. Morgan Stanley now owns 166,885 shares of the Wireless communications provider’s stock valued at $1,188,000 after buying an additional 36,919 shares during the period. Globeflex Capital L P increased its stake in PC Tel by 14,519.5% in the first quarter. Globeflex Capital L P now owns 35,233 shares of the Wireless communications provider’s stock valued at $251,000 after buying an additional 34,992 shares during the period. Finally, Geode Capital Management LLC increased its stake in PC Tel by 0.5% in the first quarter. Geode Capital Management LLC now owns 90,628 shares of the Wireless communications provider’s stock valued at $645,000 after buying an additional 444 shares during the period. Institutional investors and hedge funds own 67.46% of the company’s stock.
PC Tel Company Profile
PCTEL, Inc (PCTEL) delivers telecom solutions. The Company operates in two segments: Connected Solutions and RF Solutions. The RF Solutions segment develops and provides test equipment, software and engineering services for wireless networks. The Connected Solutions segment designs and delivers antennas and site solutions for wireless networks globally.
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