DragonWave Inc. (DRWI) Issues Quarterly Earnings Results, Misses Expectations By $0.01 EPS
DragonWave Inc. (NASDAQ:DRWI) posted its earnings results on Wednesday. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.95) by $0.01. DragonWave had a negative return on equity of 258.11% and a negative net margin of 55.79%. The firm earned $13.20 million during the quarter, compared to analysts’ expectations of $14.25 million.
DragonWave (NASDAQ:DRWI) traded up 2.26% during mid-day trading on Wednesday, reaching $2.72. 91,333 shares of the company’s stock traded hands. The stock has a 50 day moving average of $2.80 and a 200 day moving average of $4.27. DragonWave has a 12-month low of $1.40 and a 12-month high of $10.66. The company’s market cap is $9.86 million.
DRWI has been the topic of several recent analyst reports. Rodman & Renshaw initiated coverage on shares of DragonWave in a research note on Tuesday, September 6th. They issued a “buy” rating and a $4.00 target price on the stock. Zacks Investment Research upgraded shares of DragonWave from a “sell” rating to a “hold” rating in a research note on Wednesday, September 14th.
DragonWave Inc (DragonWave) is a provider of packet microwave solutions for Internet protocol (IP) networks. The Company operates through broadband wireless backhaul equipment segment. The principal application of DragonWave’s products is mobile network backhaul. Additional applications include leased line replacement, last mile fiber extension and enterprise networks.
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