Pctel (PCTI) closed the most recent trading day at $6.64, making no change from the previous trading session. This move was narrower than the S&P 500's daily loss of 0.65%. At the same time, the Dow lost 0.77%, and the tech-heavy Nasdaq lost 1.27%.
Prior to today's trading, shares of the provider of antennas and services for wireless networks had lost 3.07% over the past month. This has lagged the Computer and Technology sector's gain of 7.86% and the S&P 500's gain of 7.76% in that time.
PCTI will be looking to display strength as it nears its next earnings release, which is expected to be August 6, 2020. In that report, analysts expect PCTI to post earnings of $0.08 per share. This would mark a year-over-year decline of 38.46%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $20.44 million, down 13.01% from the year-ago period.
PCTI's full-year Zacks Consensus Estimates are calling for earnings of $0.40 per share and revenue of $84.89 million. These results would represent year-over-year changes of -14.89% and -6.32%, respectively.
Any recent changes to analyst estimates for PCTI should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. PCTI currently has a Zacks Rank of #3 (Hold).
Digging into valuation, PCTI currently has a Forward P/E ratio of 16.6. Its industry sports an average Forward P/E of 21.77, so we one might conclude that PCTI is trading at a discount comparatively.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 195, which puts it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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