Brokerages Expect pdvWireless Inc (PDVW) to Announce ($0.57) Earnings Per Share

Shares of pdvWireless Inc (NASDAQ:PDVW) have earned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.

Brokerages have set a 1 year consensus price target of $59.00 for the company and are anticipating that the company will post ($0.57) EPS for the current quarter, according to Zacks. Zacks has also assigned pdvWireless an industry rank of 110 out of 265 based on the ratings given to related companies.

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Several analysts have recently weighed in on the company. BidaskClub raised pdvWireless from a “buy” rating to a “strong-buy” rating in a report on Tuesday. TheStreet raised pdvWireless from a “d+” rating to a “c-” rating in a report on Wednesday, February 7th. ValuEngine raised pdvWireless from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Zacks Investment Research lowered pdvWireless from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Finally, B. Riley reissued a “buy” rating and set a $59.00 price objective on shares of pdvWireless in a report on Friday, December 15th.

Shares of pdvWireless (NASDAQ PDVW) opened at $36.80 on Tuesday. pdvWireless has a fifty-two week low of $20.00 and a fifty-two week high of $39.75.

pdvWireless (NASDAQ:PDVW) last released its earnings results on Tuesday, February 6th. The wireless provider reported ($0.59) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.61) by $0.02. The firm had revenue of $1.60 million for the quarter, compared to analyst estimates of $1.50 million. pdvWireless had a negative return on equity of 17.38% and a negative net margin of 613.47%. analysts forecast that pdvWireless will post -2.36 EPS for the current fiscal year.

In related news, major shareholder Owl Creek Asset Management, L. bought 6,403 shares of the business’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was acquired at an average price of $31.93 per share, for a total transaction of $204,447.79. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Richard E. Rohmann sold 900 shares of the firm’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $33.45, for a total value of $30,105.00. Following the transaction, the executive vice president now owns 11,309 shares of the company’s stock, valued at approximately $378,286.05. The disclosure for this sale can be found here. In the last three months, insiders have bought 13,735 shares of company stock worth $438,858 and have sold 2,700 shares worth $90,567. 10.91% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. MetLife Investment Advisors LLC bought a new position in shares of pdvWireless during the 4th quarter worth approximately $108,000. The Manufacturers Life Insurance Company lifted its position in shares of pdvWireless by 5.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,171 shares of the wireless provider’s stock worth $190,000 after buying an additional 448 shares during the period. Alliancebernstein L.P. bought a new position in shares of pdvWireless during the 4th quarter worth approximately $209,000. Dimensional Fund Advisors LP bought a new position in shares of pdvWireless during the 3rd quarter worth approximately $212,000. Finally, State Board of Administration of Florida Retirement System bought a new position in shares of pdvWireless during the 3rd quarter worth approximately $215,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

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pdvWireless Company Profile

pdvWireless, Inc, formerly Pacific DataVision, Inc, is a wireless communications carrier and a provider of mobile workforce communication and location-based solutions. The Company’s solutions focus on enhancing the productivity of its customers’ field-based workers, and the efficiency of their dispatch and call center operations.

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