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Aviat Networks, Inc. (AVNW) Stock Jumps 6.9%: Will It Continue to Soar?
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Aviat Networks, Inc. (AVNW - Free Report) shares rallied 6.9% in the last trading session to close at $63.73. 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 6.5% loss over the past four weeks.
AVNW’s rally is driven by optimism over WTM 4000 microwave and multi-band platform systems deployment win with LTD Broadband, one of several top RDOF (Rural Digital Opportunity Fund) award recipients. Markedly, the company has been striving to rollout high-speed broadband connectivity in the underserved communities of the United States in an effort to bridge the digital gap, especially amid the COVID-19 pandemic. Also, it is witnessing a healthy momentum for a solid deal in mobile 5G with a U.S.-based Tier 1 operator for microwave transport.
Price and Consensus
This company is expected to post quarterly earnings of $0.73 per share in its upcoming report, which represents a year-over-year change of +87.2%. Revenues are expected to be $64 million, up 4.3% 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 Aviat Networks, Inc., 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 AVNW going forward to see if this recent jump can turn into more strength down the road.
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Aviat Networks, Inc. (AVNW) Stock Jumps 6.9%: Will It Continue to Soar?
Aviat Networks, Inc. (AVNW - Free Report) shares rallied 6.9% in the last trading session to close at $63.73. 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 6.5% loss over the past four weeks.
AVNW’s rally is driven by optimism over WTM 4000 microwave and multi-band platform systems deployment win with LTD Broadband, one of several top RDOF (Rural Digital Opportunity Fund) award recipients. Markedly, the company has been striving to rollout high-speed broadband connectivity in the underserved communities of the United States in an effort to bridge the digital gap, especially amid the COVID-19 pandemic. Also, it is witnessing a healthy momentum for a solid deal in mobile 5G with a U.S.-based Tier 1 operator for microwave transport.
Price and Consensus
This company is expected to post quarterly earnings of $0.73 per share in its upcoming report, which represents a year-over-year change of +87.2%. Revenues are expected to be $64 million, up 4.3% 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 Aviat Networks, Inc., 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 AVNW going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>