UTStarcom (NASDAQ:UTSI) Announces Quarterly Earnings Results

UTStarcom (NASDAQ:UTSI) released its earnings results on Friday. The Wireless communications provider reported ($0.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.01), RTT News reports. The company had revenue of $13.08 million for the quarter, compared to analyst estimates of $15.00 million. UTStarcom had a net margin of 3.17% and a return on equity of 3.20%. During the same period in the previous year, the business posted $0.30 EPS.

Shares of UTSI traded down $0.09 during mid-day trading on Friday, hitting $2.87. The company’s stock had a trading volume of 21,800 shares, compared to its average volume of 16,146. The stock has a market capitalization of $107.38 million, a price-to-earnings ratio of 20.50 and a beta of 0.89. The firm has a 50-day moving average price of $2.98 and a 200 day moving average price of $3.05. UTStarcom has a fifty-two week low of $2.43 and a fifty-two week high of $4.11.

UTSI has been the topic of several research analyst reports. TheStreet raised shares of UTStarcom from a “d+” rating to a “c” rating in a research note on Friday, August 16th. Zacks Investment Research raised shares of UTStarcom from a “hold” rating to a “strong-buy” rating and set a $3.25 target price on the stock in a research note on Thursday, August 22nd. Finally, ValuEngine raised shares of UTStarcom from a “hold” rating to a “buy” rating in a research note on Friday, July 12th.

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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Earnings History for UTStarcom (NASDAQ:UTSI)

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