Frequency Electronics (NASDAQ:FEIM) Posts Earnings Results, Misses Estimates By $0.76 EPS

Frequency Electronics (NASDAQ:FEIM) announced its quarterly earnings results on Wednesday. The communications equipment provider reported ($0.50) EPS for the quarter, missing the consensus estimate of $0.26 by ($0.76), FiscalAI reports. The firm had revenue of $15.40 million for the quarter, compared to analysts’ expectations of $18.57 million. Frequency Electronics had a net margin of 10.78% and a return on equity of 12.69%.

Frequency Electronics Stock Performance

FEIM stock traded up $0.34 during trading on Wednesday, reaching $59.27. 464,003 shares of the company traded hands, compared to its average volume of 193,803. The business has a 50 day simple moving average of $65.64 and a 200 day simple moving average of $56.75. Frequency Electronics has a 12 month low of $18.73 and a 12 month high of $80.00. The company has a market capitalization of $583.22 million, a price-to-earnings ratio of 79.03 and a beta of 0.71.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FEIM. Kestra Advisory Services LLC purchased a new stake in Frequency Electronics in the fourth quarter valued at $27,000. Informed Momentum Co LLC grew its holdings in Frequency Electronics by 1.2% during the fourth quarter. Informed Momentum Co LLC now owns 47,007 shares of the communications equipment provider’s stock worth $2,531,000 after acquiring an additional 541 shares during the period. First Trust Advisors LP raised its position in Frequency Electronics by 2.7% during the fourth quarter. First Trust Advisors LP now owns 21,628 shares of the communications equipment provider’s stock valued at $1,164,000 after acquiring an additional 569 shares in the last quarter. Police & Firemen s Retirement System of New Jersey lifted its holdings in Frequency Electronics by 52.2% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 2,010 shares of the communications equipment provider’s stock valued at $108,000 after acquiring an additional 689 shares during the period. Finally, New York State Common Retirement Fund boosted its position in Frequency Electronics by 63.6% in the 4th quarter. New York State Common Retirement Fund now owns 1,800 shares of the communications equipment provider’s stock worth $97,000 after purchasing an additional 700 shares in the last quarter. Hedge funds and other institutional investors own 58.60% of the company’s stock.

Wall Street Analyst Weigh In

FEIM has been the topic of several recent research reports. Wall Street Zen upgraded shares of Frequency Electronics from a “strong sell” rating to a “sell” rating in a report on Saturday, July 4th. Weiss Ratings restated a “hold (c+)” rating on shares of Frequency Electronics in a report on Monday, June 15th. Finally, Freedom Capital raised shares of Frequency Electronics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $43.67.

About Frequency Electronics

Frequency Electronics, Inc (NASDAQ:FEIM) is a U.S.-based designer and manufacturer of precision frequency control products and timing solutions. The company’s portfolio includes oven-controlled crystal oscillators (OCXOs), atomic frequency standards such as rubidium oscillators, GPS-disciplined oscillators (GPSDOs), microwave synthesizers, and integrated timing subsystems. These products are used to provide stable and accurate frequency and time references for applications that demand high performance and reliability.

FEI serves a broad range of markets, including telecommunications, aerospace and defense, satellite and space systems, test and measurement equipment, and critical infrastructure.