Zacks: Analysts Expect Resonant Inc. (NASDAQ:RESN) Will Post Earnings of -$0.11 Per Share

Equities analysts expect that Resonant Inc. (NASDAQ:RESN) will post earnings of ($0.11) per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Resonant’s earnings. Resonant reported earnings of ($0.09) per share in the same quarter last year, which would suggest a negative year over year growth rate of 22.2%. The business is scheduled to issue its next quarterly earnings report on Tuesday, November 9th.

On average, analysts expect that Resonant will report full year earnings of ($0.40) per share for the current year, with EPS estimates ranging from ($0.41) to ($0.39). For the next fiscal year, analysts forecast that the company will report earnings of ($0.20) per share, with EPS estimates ranging from ($0.24) to ($0.16). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that follow Resonant.

Resonant (NASDAQ:RESN) last announced its earnings results on Wednesday, August 11th. The semiconductor company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. Resonant had a negative return on equity of 138.45% and a negative net margin of 961.22%.

Several research analysts have commented on the company. Zacks Investment Research lowered Resonant from a “hold” rating to a “sell” rating in a research report on Friday, August 20th. Benchmark began coverage on Resonant in a research note on Tuesday, July 27th. They issued a “buy” rating and a $6.00 price target on the stock. Finally, Craig Hallum restated a “buy” rating and issued a $6.00 price target on shares of Resonant in a research note on Wednesday, July 28th. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $5.65.

Shares of NASDAQ RESN traded up $0.04 during midday trading on Friday, hitting $2.56. 16,202 shares of the company’s stock were exchanged, compared to its average volume of 1,561,438. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.25 and a quick ratio of 4.25. Resonant has a twelve month low of $2.09 and a twelve month high of $8.33. The company has a market cap of $161.34 million, a PE ratio of -4.67 and a beta of 2.18. The firm’s fifty day simple moving average is $2.79 and its 200-day simple moving average is $3.39.

Several institutional investors have recently made changes to their positions in RESN. O Shaughnessy Asset Management LLC acquired a new stake in Resonant in the 1st quarter valued at approximately $32,000. Caxton Associates LP acquired a new position in shares of Resonant during the 1st quarter valued at $45,000. Boothbay Fund Management LLC acquired a new position in shares of Resonant during the 2nd quarter valued at $35,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Resonant during the 2nd quarter worth $42,000. Finally, Ibex Wealth Advisors bought a new stake in shares of Resonant during the 2nd quarter worth $46,000. Institutional investors and hedge funds own 24.59% of the company’s stock.

About Resonant

Resonant, Inc engages in the creation of filter designs for radio frequency front-ends for the mobile device industry. It focuses on developing its software platform, Infinite Synthesized Networks. The company was founded by Neal Fenzi and Robert B. Hammond in January 2012 and is headquartered in Austin, TX.

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