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Aviat Networks, Inc. (AVNW) shares ended the last trading session 10.9% higher at $34.06. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This 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 upcoming report, which represents a year-over-year change of +14.3%. Revenues are expected to be $71.33 million, up 7.4% 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 #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Aviat Networks, Inc. is a member of the Zacks Wireless Equipment industry. One other stock in the same industry, InterDigital (IDCC), finished the last trading session 0.6% lower at $60.91. IDCC has returned -4% over the past month.
For InterDigital , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.37. This represents a change of +105.6% from what the company reported a year ago. InterDigital currently has a Zacks Rank of #3 (Hold).
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