UTStarcom (UTSI) Issues Quarterly Earnings Results
UTStarcom (NASDAQ:UTSI) released its quarterly earnings results on Friday. The Wireless communications provider reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06, MarketWatch Earnings reports. UTStarcom had a net margin of 2.71% and a return on equity of 3.16%. The firm had revenue of $52.09 million during the quarter, compared to analyst estimates of $40.50 million. During the same quarter last year, the business earned ($0.04) EPS. UTStarcom updated its Q4 2018 guidance to EPS.
Shares of UTSI stock traded down $0.03 during trading hours on Friday, hitting $3.60. 5,011 shares of the company were exchanged, compared to its average volume of 16,158. The company has a market cap of $131.37 million, a price-to-earnings ratio of 16.37 and a beta of 0.29. UTStarcom has a fifty-two week low of $3.16 and a fifty-two week high of $6.51.
UTSI has been the subject of several analyst reports. ValuEngine upgraded shares of UTStarcom from a “hold” rating to a “buy” rating in a report on Wednesday, July 18th. TheStreet upgraded shares of UTStarcom from a “d+” rating to a “c” rating in a report on Wednesday, August 8th.
UTStarcom Company Profile
UTStarcom Holdings Corp. operates as a telecom infrastructure provider to develop technology for bandwidth from cloud-based services, mobile, streaming, and other applications worldwide. The company helps network operators to offer communication services for its customers. Its products line include various platforms that leverage its expertise in packet optical communications, routing and switching technologies, broadband access, wireless communications, and synchronization.
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