QualTek Services (QTEK) Scheduled to Post Quarterly Earnings on Monday

Posted by MarketBeat News on Aug 6th, 2022

QualTek Services (NASDAQ:QTEK – Get Rating) will announce its earnings results after the market closes on Monday, August 8th. Analysts expect the company to announce earnings of ($0.34) per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

QualTek Services (NASDAQ:QTEK – Get Rating) last issued its quarterly earnings data on Tuesday, May 17th. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.62) by $0.42. The business had revenue of $148.16 million during the quarter, compared to analyst estimates of $140.00 million. On average, analysts expect QualTek Services to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

QualTek Services Stock Up 8.2 %

Shares of QualTek Services stock opened at $1.72 on Friday. QualTek Services has a twelve month low of $0.97 and a twelve month high of $10.43. The business has a 50-day simple moving average of $1.43.

Institutional Investors Weigh In On QualTek Services

An institutional investor recently bought a new position in QualTek Services stock. Wasatch Advisors Inc. bought a new position in shares of QualTek Services Inc. (NASDAQ:QTEK – Get Rating) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,373,408 shares of the company’s stock, valued at approximately $4,409,000. Wasatch Advisors Inc. owned about 2.69% of QualTek Services as of its most recent filing with the Securities & Exchange Commission.

Wall Street Analysts Forecast Growth

Separately, DA Davidson dropped their target price on shares of QualTek Services to $7.00 and set an “underperforrm” rating for the company in a research report on Thursday, May 19th.

QualTek Services Company Profile

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QualTek Services Inc provides communications infrastructure, power grid modernization, and renewable solutions to telecommunications and utilities industries in North America. The company operates through two segments, Telecom, and Renewables and Recovery Logistics. The Telecom segment engages in the installation, project management, maintenance, real estate, and site acquisition; fiber optic aerial and underground installation, fiber optic splicing, termination and testing, new installation, engineering, and fulfillment services to telecommunication companies; and electrical contracting, and utility construction and maintenance services to municipalities, electric membership cooperatives, and electric-utility companies.