RF Industries, Ltd. (RFIL - Free Report) shares rallied 20.4% in the last trading session to close at $7.03. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 1.2% loss over the past four weeks.
The increase in share price can be attributed to RF Industries receiving a follow-on order for its OptiFlex hybrid fiber solution worth $6.5 million from its new tier-1 wireless carrier customer.
The rapid deployment of 5G bodes well for the company’s OptiFlex hybrid fiber solutions. OptiFlex hybrid fiber product line combines multiple cables (power, coax, Ethernet and fiber) and is utilized in wireless tower site upgrades from 3G to 4G and LTE as well as 5G.
RF Industries’ backlog now stands at more than $15 million. The company is anticipated to begin shipping against the new order in the second half of current fiscal year (ending on Oct 31, 2021).
Price and Consensus
This company is expected to post quarterly earnings of $0.05 per share in its upcoming report, which represents a year-over-year change of +600%. Revenues are expected to be $11.08 million, up 6.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For RF Industries, Ltd., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RFIL going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
RF Industries, Ltd. (RFIL - Free Report) shares rallied 20.4% in the last trading session to close at $7.03. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 1.2% loss over the past four weeks.
The increase in share price can be attributed to RF Industries receiving a follow-on order for its OptiFlex hybrid fiber solution worth $6.5 million from its new tier-1 wireless carrier customer.
The rapid deployment of 5G bodes well for the company’s OptiFlex hybrid fiber solutions. OptiFlex hybrid fiber product line combines multiple cables (power, coax, Ethernet and fiber) and is utilized in wireless tower site upgrades from 3G to 4G and LTE as well as 5G.
RF Industries’ backlog now stands at more than $15 million. The company is anticipated to begin shipping against the new order in the second half of current fiscal year (ending on Oct 31, 2021).
Price and Consensus
This company is expected to post quarterly earnings of $0.05 per share in its upcoming report, which represents a year-over-year change of +600%. Revenues are expected to be $11.08 million, up 6.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For RF Industries, Ltd., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RFIL going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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