ValuEngine Lowers PC Tel (NASDAQ:PCTI) to Sell

ValuEngine cut shares of PC Tel (NASDAQ:PCTI) from a hold rating to a sell rating in a report issued on Wednesday, October 17th.

Several other analysts have also issued reports on PCTI. TheStreet lowered shares of PC Tel from a b rating to a c+ rating in a research report on Monday, July 9th. B. Riley raised shares of PC Tel from a neutral rating to a buy rating and reduced their price objective for the stock from $8.50 to $4.50 in a report on Thursday, August 9th. Lake Street Capital downgraded shares of PC Tel from a buy rating to a hold rating and reduced their price objective for the stock from $9.00 to $6.00 in a report on Thursday, August 9th. Finally, Zacks Investment Research downgraded shares of PC Tel from a hold rating to a sell rating in a report on Wednesday, August 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $6.25.

Shares of PCTI traded down $0.03 during mid-day trading on Wednesday, hitting $4.40. 59,608 shares of the company’s stock were exchanged, compared to its average volume of 74,699. PC Tel has a twelve month low of $4.01 and a twelve month high of $7.85. The firm has a market cap of $82.41 million, a price-to-earnings ratio of 44.00 and a beta of 0.22.

PC Tel (NASDAQ:PCTI) last posted its earnings results on Thursday, November 8th. The Wireless communications provider reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06). The business had revenue of $18.43 million for the quarter, compared to analyst estimates of $19.50 million. PC Tel had a net margin of 2.35% and a return on equity of 1.41%. Research analysts anticipate that PC Tel will post -0.3 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, November 8th will be issued a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a yield of 5.00%. The ex-dividend date is Wednesday, November 7th. PC Tel’s dividend payout ratio is currently 220.00%.

Hedge funds have recently made changes to their positions in the stock. Deprince Race & Zollo Inc. increased its position in PC Tel by 161.5% in the 3rd quarter. Deprince Race & Zollo Inc. now owns 1,539,770 shares of the Wireless communications provider’s stock valued at $7,160,000 after acquiring an additional 950,987 shares in the last quarter. Rutabaga Capital Management LLC MA acquired a new stake in shares of PC Tel during the 3rd quarter worth approximately $608,000. Russell Investments Group Ltd. grew its position in shares of PC Tel by 67.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 255,252 shares of the Wireless communications provider’s stock worth $1,593,000 after buying an additional 102,692 shares during the period. Ariel Investments LLC grew its position in shares of PC Tel by 3.1% during the 2nd quarter. Ariel Investments LLC now owns 2,320,817 shares of the Wireless communications provider’s stock worth $14,482,000 after buying an additional 69,567 shares during the period. Finally, Chartwell Investment Partners LLC grew its position in shares of PC Tel by 2.2% during the 2nd quarter. Chartwell Investment Partners LLC now owns 1,866,338 shares of the Wireless communications provider’s stock worth $11,646,000 after buying an additional 39,980 shares during the period. 80.60% of the stock is owned by hedge funds and other institutional investors.

PC Tel Company Profile

PCTEL, Inc, together with its subsidiaries, delivers performance critical telecom solutions in the Asia Pacific, Europe, the Middle East, Africa, and the Americas. The company operates in two segments, Connected Solutions and RF Solutions. The Connected Solutions segment designs and delivers precision antennas, which are used primarily in small cells, enterprise Wi-Fi access points, fleet management and transit systems, and in equipment and devices for the Industrial Internet of Things.

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