Franklin Wireless (NASDAQ:FKWL) Releases Quarterly Earnings Results, Misses Expectations By $0.34 EPS

Franklin Wireless (NASDAQ:FKWL) issued its earnings results on Monday. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.34), FiscalAI reports. The company had revenue of $8.40 million during the quarter, compared to analyst estimates of $10.60 million. Franklin Wireless had a negative net margin of 2.07% and a negative return on equity of 2.98%.

Franklin Wireless Stock Down 0.4%

NASDAQ:FKWL opened at $2.42 on Tuesday. The company has a market capitalization of $28.51 million, a PE ratio of -40.33 and a beta of 0.31. Franklin Wireless has a 52-week low of $2.21 and a 52-week high of $5.48. The stock’s 50 day moving average price is $2.40 and its 200 day moving average price is $2.89.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Franklin Wireless in a research note on Friday, August 21st. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $6.00.

Franklin Wireless Company Profile

Franklin Wireless Corporation develops and supplies wireless communications equipment and connected-device solutions. The company’s products are designed to provide mobile broadband connectivity through cellular networks and include mobile hotspots, routers, modems, and related wireless devices.

Franklin Wireless primarily serves wireless network operators, distributors, retailers, and enterprise customers. Its offerings support applications such as home and mobile internet access, backup connectivity, remote communications, and Internet of Things deployments.