IEC Electronics (NYSEAMERICAN:IEC) released its earnings results on Wednesday, May 9th. The technology company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.10, MarketWatch Earnings reports. IEC Electronics had a negative return on equity of 13.93% and a negative net margin of 2.34%. The business had revenue of $31.77 million for the quarter, compared to analyst estimates of $29.00 million.
IEC Electronics opened at $5.25 on Friday, MarketBeat reports. IEC Electronics has a 12 month low of $5.28 and a 12 month high of $5.44.
Separately, Zacks Investment Research raised IEC Electronics from a “hold” rating to a “strong-buy” rating and set a $5.50 price objective on the stock in a research report on Saturday, May 12th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $6.25.
IEC Electronics Corp., together with its subsidiaries, provides electronic manufacturing services in the United States. It specializes in delivering technical solutions for the custom manufacturing, product configuration, and verification testing of engineered complex products that require a sophisticated level of manufacturing.
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