DragonWave Inc. (DRWI) Issues Quarterly Earnings Results, Misses Expectations By $0.01 EPS
DragonWave Inc. (NASDAQ:DRWI) issued its quarterly earnings data on Wednesday. The company reported ($0.96) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.95) by $0.01. The business had revenue of $13.20 million for the quarter, compared to analyst estimates of $14.25 million. DragonWave had a negative return on equity of 258.11% and a negative net margin of 55.79%.
Shares of DragonWave (NASDAQ:DRWI) traded up 2.26% during midday trading on Wednesday, reaching $2.72. 91,333 shares of the company’s stock traded hands. DragonWave has a 12 month low of $1.40 and a 12 month high of $10.66. The stock has a 50-day moving average price of $2.80 and a 200 day moving average price of $4.27. The firm’s market cap is $9.86 million.
A number of equities analysts have issued reports on DRWI shares. Zacks Investment Research upgraded DragonWave from a “sell” rating to a “hold” rating in a report on Wednesday, September 14th. Rodman & Renshaw assumed coverage on DragonWave in a report on Tuesday, September 6th. They set a “buy” rating and a $4.00 price target for the company.
DragonWave Inc (DragonWave) is a provider of packet microwave solutions for Internet protocol (IP) networks. The Company operates through broadband wireless backhaul equipment segment. The principal application of DragonWave’s products is mobile network backhaul. Additional applications include leased line replacement, last mile fiber extension and enterprise networks.
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