Frequency Electronics (NASDAQ:FEIM) Releases Quarterly Earnings Results, Beats Estimates By $0.26 EPS

Frequency Electronics (NASDAQ:FEIM) posted its quarterly earnings results on Thursday. The communications equipment provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.26, FiscalAI reports. The firm had revenue of $23.45 million for the quarter, compared to analysts’ expectations of $17.85 million. Frequency Electronics had a negative net margin of 1.43% and a negative return on equity of 1.56%.

Frequency Electronics Stock Performance

Shares of NASDAQ:FEIM traded down $1.58 during midday trading on Thursday, reaching $62.06. 219,465 shares of the company’s stock traded hands, compared to its average volume of 226,127. The company has a fifty day simple moving average of $65.59 and a two-hundred day simple moving average of $60.53. Frequency Electronics has a 1 year low of $26.05 and a 1 year high of $80.60. The company has a market cap of $693.71 million, a P/E ratio of -689.56 and a beta of 0.72.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Weiss Ratings downgraded shares of Frequency Electronics from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, September 2nd. Wall Street Zen raised shares of Frequency Electronics from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 4th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $43.67.

Hedge Funds Weigh In On Frequency Electronics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Frequency Electronics during the third quarter worth about $25,000. Kestra Advisory Services LLC acquired a new position in shares of Frequency Electronics during the 4th quarter worth about $27,000. Wexford Capital LP purchased a new position in Frequency Electronics in the 3rd quarter valued at about $32,000. BNP Paribas Financial Markets lifted its stake in Frequency Electronics by 130.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,291 shares of the communications equipment provider’s stock valued at $44,000 after buying an additional 731 shares in the last quarter. Finally, State of Wyoming acquired a new stake in Frequency Electronics in the 4th quarter worth about $49,000. 58.60% of the stock is owned by hedge funds and other institutional investors.

About Frequency Electronics

Frequency Electronics, Inc (NASDAQ:FEIM) is a U.S.-based designer and manufacturer of precision frequency control products and timing solutions. The company’s portfolio includes oven-controlled crystal oscillators (OCXOs), atomic frequency standards such as rubidium oscillators, GPS-disciplined oscillators (GPSDOs), microwave synthesizers, and integrated timing subsystems. These products are used to provide stable and accurate frequency and time references for applications that demand high performance and reliability.

FEI serves a broad range of markets, including telecommunications, aerospace and defense, satellite and space systems, test and measurement equipment, and critical infrastructure.