RF Industries (NASDAQ:RFIL) Announces Quarterly Earnings Results

RF Industries (NASDAQ:RFIL) released its quarterly earnings data on Monday. The electronics maker reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.05, FiscalAI reports. RF Industries had a net margin of 0.34% and a return on equity of 10.54%. The company had revenue of $20.69 million during the quarter, compared to the consensus estimate of $19.67 million.

RF Industries Stock Performance

NASDAQ:RFIL traded down $0.63 during mid-day trading on Monday, reaching $18.12. The stock had a trading volume of 585,687 shares, compared to its average volume of 256,569. The firm has a market capitalization of $195.88 million, a price-to-earnings ratio of 453.11 and a beta of 1.30. RF Industries has a twelve month low of $4.08 and a twelve month high of $20.00. The business has a 50 day simple moving average of $15.53 and a 200 day simple moving average of $11.23.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in shares of RF Industries by 6.4% in the 4th quarter. State Street Corp now owns 38,484 shares of the electronics maker’s stock worth $222,000 after acquiring an additional 2,300 shares during the period. Geode Capital Management LLC grew its holdings in shares of RF Industries by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 103,152 shares of the electronics maker’s stock worth $596,000 after acquiring an additional 2,718 shares during the period. XTX Topco Ltd grew its holdings in shares of RF Industries by 26.9% in the 4th quarter. XTX Topco Ltd now owns 25,227 shares of the electronics maker’s stock worth $146,000 after acquiring an additional 5,350 shares during the period. Goldman Sachs Group Inc. acquired a new stake in shares of RF Industries in the 1st quarter worth approximately $56,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of RF Industries by 5.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 241,657 shares of the electronics maker’s stock worth $1,397,000 after acquiring an additional 13,349 shares during the period. 23.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on RFIL shares. Wall Street Zen downgraded shares of RF Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 28th. Weiss Ratings raised shares of RF Industries from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, June 2nd. B. Riley Financial upped their target price on shares of RF Industries from $10.25 to $11.25 and gave the company a “neutral” rating in a report on Tuesday, March 17th. Finally, Zacks Research cut shares of RF Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, RF Industries currently has an average rating of “Hold” and an average price target of $11.25.

RF Industries Company Profile

RF Industries, Inc (NASDAQ: RFIL) is a manufacturer and supplier of connectivity products and solutions for the wireless, broadcast, cable television, data networking, defense and aerospace markets. The company specializes in both standard and custom coaxial and fiber-optic cable assemblies, connectors, adapters and test accessories designed to withstand demanding environmental conditions. Through its product portfolio, RF Industries supports applications ranging from RF signal transmission and satellite communications to industrial automation and instrumentation.

The company’s offerings include premade and build-to-print coaxial cables and assemblies, field-installable connectors, power distribution components and calibration-grade test equipment.