Pctel closed at $6.08 in the latest trading session, marking a +1% move from the prior day. This change lagged the S&P 500's 1.34% gain on the day. Meanwhile, the Dow gained 2.13%, and the Nasdaq, a tech-heavy index, added 0.94%.
Prior to today's trading, shares of the provider of antennas and services for wireless networks had lost 11.21% over the past month. This has lagged the Computer and Technology sector's gain of 7.45% and the S&P 500's gain of 3.92% in that time.
Investors will be hoping for strength from PCTI as it approaches its next earnings release. On that day, PCTI is projected to report earnings of $0.08 per share, which would represent a year-over-year decline of 38.46%. Meanwhile, our latest consensus estimate is calling for revenue of $20.44 million, down 13.01% from the prior-year quarter.
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.
Investors should also note any recent changes to analyst estimates for PCTI. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. PCTI is currently a Zacks Rank #3 (Hold).
In terms of valuation, PCTI is currently trading at a Forward P/E ratio of 15.05. For comparison, its industry has an average Forward P/E of 25.01, which means PCTI is trading at a discount to the group.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 96, putting it in the top 38% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.