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PCTEL Inc. Stock Downgraded (PCTI)

NEW YORK ( TheStreet) -- PCTEL (Nasdaq: PCTI) has been downgraded by TheStreet Ratings from buy to hold. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins and notable return on equity. However, as a counter to these strengths, we find that the growth in the company's net income has been quite unimpressive.

Highlights from the ratings report include:

  • PCTI has no debt to speak of therefore resulting in a debt-to-equity ratio of zero, which we consider to be a relatively favorable sign. Along with this, the company maintains a quick ratio of 7.82, which clearly demonstrates the ability to cover short-term cash needs.
  • Compared to its price level of one year ago, PCTI is down 10.85% to its most recent closing price of 6.74. Looking ahead, our view is that this company's fundamentals will not have much impact either way, allowing the stock to generally move up or down based on the push and pull of the broad market.
  • The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. Compared to other companies in the Communications Equipment industry and the overall market, PCTEL INC's return on equity significantly trails that of both the industry average and the S&P 500.
  • The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Communications Equipment industry. The net income has significantly decreased by 537.0% when compared to the same quarter one year ago, falling from -$0.12 million to -$0.76 million.
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PCTEL, Inc. provides propagation and optimization solutions for the wireless industry. It designs and develops software-based radios (scanning receivers) for wireless network optimization; and develops and distributes antenna solutions. The company has a P/E ratio of 674, equal to the average telecommunications industry P/E ratio and above the S&P 500 P/E ratio of 17.7. PCTEL has a market cap of $124.6 million and is part of the technology sector and telecommunications industry. Shares are down 1.5% year to date as of the close of trading on Friday.

You can view the full PCTEL Ratings Report or get investment ideas from our investment research center.
-- Written by a member of TheStreet Ratings Staff

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