Airgain (NASDAQ:AIRG) Updates Q4 Earnings Guidance

Airgain (NASDAQ:AIRG) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.04-$0.05 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.04. The company issued revenue guidance of $13.0-$13.5 million, compared to the consensus revenue estimate of $14.20 million.

NASDAQ:AIRG traded up $0.18 on Friday, hitting $11.40. The stock had a trading volume of 66,500 shares, compared to its average volume of 92,887. Airgain has a 1-year low of $8.81 and a 1-year high of $17.25. The company has a fifty day moving average price of $11.18 and a two-hundred day moving average price of $12.85. The stock has a market cap of $111.68 million, a price-to-earnings ratio of -42.22 and a beta of 1.98.

Airgain (NASDAQ:AIRG) last announced its quarterly earnings data on Thursday, November 7th. The technology company reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.11. Airgain had a net margin of 4.38% and a return on equity of 5.94%. The company had revenue of $13.10 million for the quarter, compared to the consensus estimate of $12.83 million. During the same period in the prior year, the firm posted $0.09 EPS. The company’s quarterly revenue was down 17.1% compared to the same quarter last year. Analysts forecast that Airgain will post 0.04 EPS for the current year.

A number of brokerages have commented on AIRG. ValuEngine raised shares of Airgain from a hold rating to a buy rating in a research report on Thursday, October 31st. Cowen dropped their price objective on shares of Airgain from $14.00 to $12.00 and set an outperform rating on the stock in a research report on Friday. Finally, Zacks Investment Research downgraded shares of Airgain from a buy rating to a hold rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Airgain currently has a consensus rating of Buy and an average target price of $16.75.

About Airgain

Airgain, Inc designs, develops, and engineers antenna products for original equipment and design manufacturers, chipset vendors, service providers, and value added resellers and distributors worldwide. Its products include MaxBeam embedded antennas; profile embedded antennas; profile contour embedded antennas; ultra-embedded antennas; OmniMax high performance external antennas; MaxBeam carrier class antennas; and SmartMax embedded antennas, as well as automotive, fleet, public safety, and M2M antennas.

Further Reading: Price to Earnings Ratio (PE) Basics

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