PC-Tel, Inc. (PCTI) Releases Earnings Results, Beats Expectations By $0.01 EPS

PC-Tel, Inc. (NASDAQ:PCTI) released its earnings results on Tuesday. The Wireless communications provider reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01, Briefing.com reports. The firm had revenue of $21.50 million during the quarter, compared to the consensus estimate of $24.09 million. PC-Tel had a positive return on equity of 1.99% and a negative net margin of 16.11%. The company’s revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.08 EPS.

PC-Tel (NASDAQ PCTI) traded down 8.52% during mid-day trading on Wednesday, hitting $6.01. The stock had a trading volume of 130,085 shares. The company’s market cap is $99.02 million. PC-Tel has a 12 month low of $4.80 and a 12 month high of $8.48. The firm’s 50-day moving average is $7.18 and its 200 day moving average is $6.58.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 8th will be given a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 3.66%. This is an increase from PC-Tel’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Friday, August 4th. PC-Tel’s dividend payout ratio is presently -21.78%.

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A number of research firms have recently weighed in on PCTI. B. Riley reiterated a “buy” rating and set a $8.50 target price on shares of PC-Tel in a research report on Wednesday. Lake Street Capital began coverage on PC-Tel in a research report on Wednesday, April 12th. They set a “buy” rating and a $8.00 target price for the company. Wunderlich upped their target price on PC-Tel from $7.00 to $8.50 and gave the company a “buy” rating in a research report on Thursday, April 13th. Finally, Zacks Investment Research downgraded PC-Tel from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 10th.

About PC-Tel

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.

Earnings History for PC-Tel (NASDAQ:PCTI)

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