Zacks: PC Tel Inc (NASDAQ:PCTI) Given Average Recommendation of “Strong Buy” by Analysts

PC Tel Inc (NASDAQ:PCTI) has received an average broker rating score of 1.00 (Strong Buy) from the two brokers that cover the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy rating.

Analysts have set a 12 month consensus price target of $7.63 for the company and are anticipating that the company will post $0.08 earnings per share for the current quarter, according to Zacks. Zacks has also given PC Tel an industry rank of 44 out of 254 based on the ratings given to its competitors.

Several equities research analysts have recently issued reports on the company. Zacks Investment Research raised PC Tel from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a research note on Thursday, May 7th. B. Riley raised their price objective on PC Tel from $8.50 to $9.25 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, ValuEngine upgraded PC Tel from a “sell” rating to a “hold” rating in a report on Tuesday, March 3rd.

A number of hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC grew its stake in PC Tel by 2.5% during the 4th quarter. Renaissance Technologies LLC now owns 1,606,037 shares of the Wireless communications provider’s stock worth $13,603,000 after buying an additional 39,304 shares during the last quarter. Deprince Race & Zollo Inc. grew its stake in PC Tel by 1.5% during the 1st quarter. Deprince Race & Zollo Inc. now owns 529,582 shares of the Wireless communications provider’s stock worth $3,522,000 after buying an additional 8,011 shares during the last quarter. Royce & Associates LP grew its stake in PC Tel by 58.5% during the 4th quarter. Royce & Associates LP now owns 514,187 shares of the Wireless communications provider’s stock worth $4,355,000 after buying an additional 189,817 shares during the last quarter. Acadian Asset Management LLC grew its stake in PC Tel by 35.1% during the 1st quarter. Acadian Asset Management LLC now owns 351,553 shares of the Wireless communications provider’s stock worth $2,339,000 after buying an additional 91,333 shares during the last quarter. Finally, EAM Investors LLC grew its stake in PC Tel by 9.8% during the 1st quarter. EAM Investors LLC now owns 311,493 shares of the Wireless communications provider’s stock worth $2,071,000 after buying an additional 27,749 shares during the last quarter. Hedge funds and other institutional investors own 63.93% of the company’s stock.

Shares of NASDAQ:PCTI traded down $0.12 during midday trading on Friday, reaching $6.67. 50,066 shares of the company’s stock traded hands, compared to its average volume of 123,085. The company has a market cap of $126.17 million, a price-to-earnings ratio of 30.86 and a beta of 0.14. PC Tel has a one year low of $3.95 and a one year high of $9.65. The stock has a 50 day moving average of $6.14 and a 200 day moving average of $7.53.

PC Tel (NASDAQ:PCTI) last issued its quarterly earnings results on Thursday, May 7th. The Wireless communications provider reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. PC Tel had a return on equity of 5.77% and a net margin of 3.86%. The business had revenue of $17.51 million during the quarter, compared to analysts’ expectations of $18.06 million. Equities research analysts anticipate that PC Tel will post 0.16 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were issued a $0.055 dividend. The ex-dividend date of this dividend was Thursday, May 7th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 3.30%. PC Tel’s dividend payout ratio is presently 75.86%.

PC Tel Company Profile

PCTEL, Inc, together with its subsidiaries, delivers performance critical telecom solutions in the Asia Pacific, Europe, the Middle East, Africa, and the Americas. The company designs and manufactures precision antennas, which are used primarily in small cells, enterprise Wi-Fi access points, fleet management and transit systems, and in equipment and devices for the Industrial Internet of Things.

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