PC Tel Inc (PCTI) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

PC Tel Inc (NASDAQ:PCTI) posted its earnings results on Tuesday. The Wireless communications provider reported $0.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.01. PC Tel had a negative net margin of 13.70% and a positive return on equity of 0.32%. The firm had revenue of $25 million during the quarter, compared to analyst estimates of $24.23 million. During the same quarter in the prior year, the business posted ($0.03) EPS. The business’s revenue was up 18.7% compared to the same quarter last year.

Earnings History for PC Tel (NASDAQ:PCTI)

The firm also recently announced a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Monday, May 8th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, May 4th. This represents a $0.20 dividend on an annualized basis and a yield of 3.13%. PC Tel’s dividend payout ratio is presently -24.39%.

Several equities analysts recently weighed in on the stock. B. Riley restated a “buy” rating and set a $9.00 price target on shares of PC Tel in a research report on Saturday, May 13th. Wunderlich lowered shares of PC Tel from a “buy” rating to a “hold” rating and set a $8.00 price target for the company. in a research report on Wednesday, May 10th. Zacks Investment Research lowered shares of PC Tel from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 10th. Finally, Lake Street Capital assumed coverage on shares of PC Tel in a research report on Wednesday, April 12th. They set a “buy” rating and a $8.00 price target for the company.

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Several hedge funds and other institutional investors have recently made changes to their positions in PCTI. Goldman Sachs Group Inc. boosted its position in shares of 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 last quarter. Geode Capital Management LLC boosted its position in shares of 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 last quarter. Morgan Stanley boosted its position in shares of 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 last quarter. Finally, Vanguard Group Inc. boosted its position in shares of PC Tel by 3.1% in the first quarter. Vanguard Group Inc. now owns 699,656 shares of the Wireless communications provider’s stock valued at $4,981,000 after buying an additional 21,344 shares during the last quarter. Hedge funds and other institutional investors 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.

12 Month Chart for NASDAQ:PCTI

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