Aviat Networks, Inc. (AVNW) shares rallied 7.3% in the last trading session to close at $20.95. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 13.1% loss over the past four weeks.
The uptrend was largely buoyed by Aviat's massive more than $250M market opportunity stemming from its new long-haul microwave portfolio. In addition, a major agreement with Nextlink Internet to power BEAD-funded rural broadband rollouts has solidified its revenue pipeline.
This company is expected to post quarterly earnings of $0.50 per share in its upcoming report, which represents a year-over-year change of -39.8%. Revenues are expected to be $109.58 million, down 5% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Aviat Networks, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AVNW going forward to see if this recent jump can turn into more strength down the road.
Aviat Networks is part of the Zacks Wireless Equipment industry. ViaSat (VSAT), another stock in the same industry, closed the last trading session 10.6% higher at $77.6. VSAT has returned -15.5% in the past month.
ViaSat's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0. Compared to the company's year-ago EPS, this represents a change of -100%. ViaSat currently boasts a Zacks Rank of #3 (Hold).
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