PC-Tel’s (PCTI) “Buy” Rating Reiterated at B. Riley

B. Riley reaffirmed their buy rating on shares of PC-Tel, Inc. (NASDAQ:PCTI) in a research note released on Thursday morning. B. Riley currently has a $8.50 target price on the Wireless communications provider’s stock. B. Riley also issued estimates for PC-Tel’s FY2019 earnings at $0.21 EPS.

PC-Tel (PCTI) opened at $7.13 on Thursday. The firm has a market cap of $126.40, a PE ratio of 64.82 and a beta of 0.62. PC-Tel has a 52 week low of $4.86 and a 52 week high of $8.48.

PC-Tel (NASDAQ:PCTI) last posted its quarterly earnings results on Wednesday, November 8th. The Wireless communications provider reported $0.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.02. The firm had revenue of $23.70 million for the quarter, compared to the consensus estimate of $23.11 million. PC-Tel had a negative net margin of 4.86% and a positive return on equity of 2.14%. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period last year, the firm posted $0.07 earnings per share. analysts anticipate that PC-Tel will post 0.08 EPS for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 8th will be paid a $0.055 dividend. This represents a $0.22 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Tuesday, November 7th. PC-Tel’s dividend payout ratio is currently -75.86%.

A number of hedge funds have recently modified their holdings of the business. Citadel Advisors LLC purchased a new position in PC-Tel during the third quarter worth about $101,000. JPMorgan Chase & Co. raised its stake in PC-Tel by 138.8% during the third quarter. JPMorgan Chase & Co. now owns 46,198 shares of the Wireless communications provider’s stock worth $291,000 after purchasing an additional 26,851 shares during the period. Chartwell Investment Partners LLC raised its stake in PC-Tel by 12.0% during the third quarter. Chartwell Investment Partners LLC now owns 1,719,342 shares of the Wireless communications provider’s stock worth $10,831,000 after purchasing an additional 184,135 shares during the period. Macquarie Group Ltd. purchased a new position in PC-Tel during the third quarter worth about $426,000. Finally, Susquehanna International Group LLP purchased a new position in PC-Tel during the second quarter worth about $114,000. 71.32% of the stock is currently owned by institutional investors.

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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