Frequency Electronics (NASDAQ:FEIM) Announces Quarterly Earnings Results, Misses Estimates By $0.76 EPS

Frequency Electronics (NASDAQ:FEIM) announced its quarterly earnings data on Wednesday. The communications equipment provider reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.76), FiscalAI reports. Frequency Electronics had a net margin of 10.78% and a return on equity of 12.69%. The business had revenue of $15.40 million during the quarter, compared to the consensus estimate of $18.57 million.

Frequency Electronics Price Performance

Shares of NASDAQ FEIM traded up $0.34 during midday trading on Wednesday, reaching $59.27. 451,931 shares of the stock were exchanged, compared to its average volume of 193,189. Frequency Electronics has a 12 month low of $18.73 and a 12 month high of $80.00. The company has a market capitalization of $583.22 million, a price-to-earnings ratio of 79.03 and a beta of 0.71. The business has a 50-day simple moving average of $65.64 and a two-hundred day simple moving average of $56.75.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd acquired a new position in Frequency Electronics in the third quarter valued at about $25,000. Kestra Advisory Services LLC acquired a new stake in shares of Frequency Electronics during the fourth quarter worth about $27,000. Wexford Capital LP acquired a new stake in shares of Frequency Electronics during the third quarter worth about $32,000. BNP Paribas Financial Markets raised its position in shares of Frequency Electronics by 130.5% during the third quarter. BNP Paribas Financial Markets now owns 1,291 shares of the communications equipment provider’s stock worth $44,000 after purchasing an additional 731 shares during the period. Finally, State of Wyoming bought a new position in shares of Frequency Electronics during the 4th quarter valued at about $49,000. 58.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FEIM has been the subject of several recent research reports. Wall Street Zen upgraded shares of Frequency Electronics from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 4th. Weiss Ratings restated a “hold (c+)” rating on shares of Frequency Electronics in a research report on Monday, June 15th. Finally, Freedom Capital raised Frequency Electronics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $43.67.

Frequency Electronics Company Profile

Frequency Electronics, Inc (NASDAQ:FEIM) is a U.S.-based designer and manufacturer of precision frequency control products and timing solutions. The company’s portfolio includes oven-controlled crystal oscillators (OCXOs), atomic frequency standards such as rubidium oscillators, GPS-disciplined oscillators (GPSDOs), microwave synthesizers, and integrated timing subsystems. These products are used to provide stable and accurate frequency and time references for applications that demand high performance and reliability.

FEI serves a broad range of markets, including telecommunications, aerospace and defense, satellite and space systems, test and measurement equipment, and critical infrastructure.