MRV Communications, Inc. (MRVC) Releases Quarterly Earnings Results, Misses Estimates By $0.08 EPS
MRV Communications, Inc. (NASDAQ:MRVC) released its earnings results on Wednesday. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by $0.08, Bloomberg Earnings reports. The business had revenue of $19.73 million during the quarter, compared to the consensus estimate of $22 million. MRV Communications had a negative net margin of 10.63% and a negative return on equity of 20.68%.
MRV Communications (NASDAQ:MRVC) traded up 0.50% during trading on Thursday, hitting $10.00. The stock had a trading volume of 43,738 shares. The stock’s 50-day moving average price is $9.76 and its 200-day moving average price is $9.22. The company’s market capitalization is $68.01 million. MRV Communications has a 1-year low of $7.05 and a 1-year high of $13.09.
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MRVC has been the subject of several recent analyst reports. Zacks Investment Research lowered MRV Communications from a “buy” rating to a “sell” rating in a report on Thursday, May 11th. ValuEngine lowered MRV Communications from a “sell” rating to a “strong sell” rating in a report on Saturday, May 20th. Finally, Northland Securities set a $14.00 target price on MRV Communications and gave the company a “buy” rating in a report on Tuesday, July 4th.
MRV Communications Company Profile
MRV Communications, Inc (MRV) is a supplier of communications solutions to telecommunications service providers, enterprises and governments throughout the world. The Company’s products enable customers to provide high-bandwidth data, and video services and mobile communications services. The Company operates through Network Equipment segment.
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