FTE Networks (FTNW) Posts Quarterly Earnings Results, Beats Estimates By $0.10 EPS
FTE Networks (NYSEAMERICAN:FTNW) announced its quarterly earnings data on Tuesday. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.26) by $0.10, Morningstar.com reports. The business had revenue of $92.22 million during the quarter, compared to analyst estimates of $89.00 million.
Shares of FTE Networks stock traded up $0.46 during trading on Wednesday, hitting $5.48. The stock had a trading volume of 13,498 shares, compared to its average volume of 35,437. FTE Networks has a 1 year low of $4.53 and a 1 year high of $26.25.
In related news, CEO Michael Palleschi purchased 5,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 29th. The stock was acquired at an average cost of $12.67 per share, for a total transaction of $69,685.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have purchased 8,500 shares of company stock valued at $107,525.
Separately, Zacks Investment Research raised shares of FTE Networks from a “sell” rating to a “hold” rating in a research report on Tuesday, October 16th.
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FTE Networks Company Profile
FTE Networks, Inc, together with its subsidiaries, offers technology-oriented solutions for smart platforms, network infrastructure, and buildings in the United States. The company operates through three segments: Infrastructure, Technology, and Staffing. It also provides telecommunications solutions, including design, engineering, installation, upgrade, repair, and maintenance of infrastructures, antennas, switching systems, and backhaul links, as well as fiber optic, copper, and coaxial cable networks used for video, data, and voice transmission.
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