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Strength seen in Aviat Networks, Inc. (AVNW): Can its 10.9% jump turn into more strength?


AViat Networks, Inc. (AVNW) shares ended the last trading session up 10.9% at $34.06. The jump occurred on impressive volume with an above average number of stocks changing hands during the session. That compares to the stock’s 9.4% gain over the past four weeks.

Fundamental/tangible driver(s) to be added by analyst

This company is expected to post quarterly earnings of $0.56 per share in its next report, representing a year-over-year change of +14.3%. Revenue is expected to be $71.33 million, up 7.4% from the prior year quarter.

Earnings and revenue growth forecasts certainly give a good idea of ​​a stock’s potential strength, but empirical research shows that trends in earnings estimate revisions are highly correlated with short-term stock price movements.

For Aviat Networks, Inc., the consensus EPS estimate for the quarter was unchanged for the past 30 days. And the price of a stock generally does not continue to rise in the absence of any trend in earnings estimate revisions. So be sure to keep an eye on AVNW to see if that recent jump can turn into more strength down the road.

The stock currently carries a Zacks rank #3 (Hold). You can see the full list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>

Aviat Networks, Inc. is a member of the Zacks Wireless Equipment Industry. Another stock in the same sector, InterDigital (IDCC), ended the last trading session down 0.6% at $60.91. IDCC returned -4% over the past month.

For InterDigital, the consensus EPS estimate for the next report remained unchanged over the past month at $0.37. This represents a change of +105.6% from what the company said a year ago. InterDigital currently has a Zacks rank of #3 (Hold).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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