Airspan Networks Holdings Inc. (NYSE:MIMO) Expected to Announce Earnings of -$0.28 Per Share

Analysts expect that Airspan Networks Holdings Inc. (NYSE:MIMOGet Rating) will announce ($0.28) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Airspan Networks’ earnings, with the lowest EPS estimate coming in at ($0.36) and the highest estimate coming in at ($0.20). Airspan Networks reported earnings per share of ($15.55) in the same quarter last year, which suggests a positive year-over-year growth rate of 98.2%. The company is scheduled to report its next earnings report on Monday, January 1st.

On average, analysts expect that Airspan Networks will report full year earnings of ($1.00) per share for the current financial year, with EPS estimates ranging from ($1.27) to ($0.73). For the next financial year, analysts anticipate that the company will post earnings of ($0.49) per share. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Airspan Networks.

Airspan Networks (NYSE:MIMOGet Rating) last released its quarterly earnings results on Monday, April 11th. The company reported ($0.26) earnings per share for the quarter. The firm had revenue of $50.38 million during the quarter.

Several brokerages have commented on MIMO. Barrington Research reissued an “outperform” rating and issued a $6.00 price target on shares of Airspan Networks in a research report on Thursday, May 12th. Zacks Investment Research upgraded Airspan Networks from a “sell” rating to a “hold” rating in a report on Friday. Northland Securities cut their price target on Airspan Networks from $10.00 to $5.00 in a report on Wednesday, April 13th. Finally, Jefferies Financial Group downgraded shares of Airspan Networks from a “buy” rating to a “hold” rating and decreased their price target for the stock from $9.00 to $4.75 in a research note on Friday, March 25th.

In other Airspan Networks news, Director Bandel L. Carano bought 33,000 shares of the firm’s stock in a transaction that occurred on Monday, May 16th. The stock was purchased at an average price of $2.66 per share, for a total transaction of $87,780.00. Following the completion of the purchase, the director now directly owns 83,173 shares in the company, valued at $221,240.18. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 47.30% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Hudson Bay Capital Management LP purchased a new stake in shares of Airspan Networks in the 3rd quarter valued at about $1,670,000. Geode Capital Management LLC purchased a new position in shares of Airspan Networks during the fourth quarter worth approximately $801,000. Ghisallo Capital Management LLC purchased a new position in shares of Airspan Networks during the third quarter worth approximately $1,089,000. Renaissance Technologies LLC purchased a new position in shares of Airspan Networks during the fourth quarter worth approximately $218,000. Finally, State Street Corp raised its holdings in shares of Airspan Networks by 323.3% in the first quarter. State Street Corp now owns 57,140 shares of the company’s stock valued at $166,000 after buying an additional 43,640 shares during the last quarter. 68.46% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:MIMO traded down $0.06 on Friday, reaching $3.05. 32,128 shares of the company’s stock were exchanged, compared to its average volume of 97,086. Airspan Networks has a 52-week low of $2.20 and a 52-week high of $14.41. The firm has a market capitalization of $220.62 million, a price-to-earnings ratio of -0.18 and a beta of 0.42. The business has a fifty day moving average of $2.82 and a 200-day moving average of $3.81.

About Airspan Networks (Get Rating)

Airspan Networks Holdings Inc designs and produces wireless network equipment for 4G and 5G networks for mainstream public telecommunications service providers and private network implementations. It offers a range of 4G and 5G network build and network densification products with a portfolio of software and hardware tools for indoor and outdoor, compact femto, pico, micro, and macro base stations, as well as fixed wireless access and backhaul solutions portfolio for point-to-point and point-to-multipoint applications.

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