Sectors & IndustriesTechnologyCommunication Equipment

Best Communication Equipment Stocks to Buy Now (2024)

Top communication equipment stocks in 2024 ranked by overall Zen Score. See the best communication equipment stocks to buy now, according to analyst forecasts for the communication equipment industry.

According to Zen Score, the 3 best communication equipment stocks to buy right now are:

Cisco (NASDAQ:CSCO) is the top communication equipment stock with a Zen Score of 58, which is 30 points higher than the communication equipment industry average of 28. It passed 21 out of 38 due diligence checks and has strong fundamentals. Cisco has seen its stock return 2.52% over the past year, overperforming other communication equipment stocks by 9 percentage points.

Cisco has an average 1 year price target of $53.15, an upside of 12.81% from Cisco's current stock price of $47.12.

Cisco stock has a consensus Hold recommendation according to Wall Street analysts. Of the 13 analysts covering Cisco, 15.38% have issued a Strong Buy rating, 7.69% have issued a Buy, 76.92% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Ituran Location & Control (NASDAQ:ITRN) is the second best communication equipment stock with a Zen Score of 52, which is 24 points higher than the communication equipment industry average of 28. It passed 19 out of 38 due diligence checks and has strong fundamentals. Ituran Location & Control has seen its stock return 25.06% over the past year, overperforming other communication equipment stocks by 32 percentage points.

Audiocodes (NASDAQ:AUDC) is the third best communication equipment stock with a Zen Score of 52, which is 24 points higher than the communication equipment industry average of 28. It passed 19 out of 38 due diligence checks and has strong fundamentals. Audiocodes has seen its stock return 9.95% over the past year, overperforming other communication equipment stocks by 16 percentage points.

Audiocodes has an average 1 year price target of $15.00, an upside of 35.75% from Audiocodes's current stock price of $11.05.

Audiocodes stock has a consensus Sell recommendation according to Wall Street analysts. Of the 2 analysts covering Audiocodes, 0% have issued a Strong Buy rating, 50% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 50% have issued a Strong Sell.

Out of 12 communication equipment stocks that have issued dividends in the past year, the 3 communication equipment stocks with the highest dividend yields are:

Clearone (NASDAQ:CLRO) has an annual dividend yield of 142.86%, which is 128 percentage points higher than the communication equipment industry average of 14.51%. Clearone's dividend payout is not stable, having dropped more than 10% two times in the last 10 years. Clearone's dividend has shown consistent growth over the last 10 years.

Clearone's dividend payout ratio of -5,000% indicates that its high dividend yield might not be sustainable for the long-term.

Audiocodes (NASDAQ:AUDC) has an annual dividend yield of 4.89%, which is -10 percentage points lower than the communication equipment industry average of 14.51%. Audiocodes's dividend payout is not stable, having dropped more than 10% one times in the last 10 years. Audiocodes's dividend has not shown consistent growth over the last 10 years.

Audiocodes's dividend payout ratio of 128.6% indicates that its high dividend yield might not be sustainable for the long-term.

Ericsson Lm Telephone Co (NASDAQ:ERIC) has an annual dividend yield of 4.88%, which is -10 percentage points lower than the communication equipment industry average of 14.51%. Ericsson Lm Telephone Co's dividend payout is not stable, having dropped more than 10% five times in the last 10 years. Ericsson Lm Telephone Co's dividend has not shown consistent growth over the last 10 years.

Ericsson Lm Telephone Co's dividend payout ratio of -33.1% indicates that its high dividend yield might not be sustainable for the long-term.

Communication equipment stocks were up 1.52% in the last day, and up 2.59% over the last week. Clearfield was the among the top gainers in the communication equipment industry, gaining 13.22% yesterday.

Clearfield shares are trading higher after the company reported better-than-expected Q2 results and increased its repurchase authorization.

Based on WallStreetZen's Valuation Score, the 3 most undervalued communication equipment stocks right now are:

Audiocodes (NASDAQ:AUDC) is the most undervalued communication equipment stock based on WallStreetZen's Valuation Score. Audiocodes has a valuation score of 71, which is 49 points higher than the communication equipment industry average of 22. It passed 5 out of 7 valuation due diligence checks.

Audiocodes's stock has gained 9.95% in the past year. It has overperformed other stocks in the communication equipment industry by 16 percentage points.

Telesat (NASDAQ:TSAT) is the second most undervalued communication equipment stock based on WallStreetZen's Valuation Score. Telesat has a valuation score of 71, which is 49 points higher than the communication equipment industry average of 22. It passed 5 out of 7 valuation due diligence checks.

Telesat's stock has dropped -8.89% in the past year. It has underperformed other stocks in the communication equipment industry by -2 percentage points.

Gilat Satellite Networks (NASDAQ:GILT) is the third most undervalued communication equipment stock based on WallStreetZen's Valuation Score. Gilat Satellite Networks has a valuation score of 57, which is 35 points higher than the communication equipment industry average of 22. It passed 4 out of 7 valuation due diligence checks.

Gilat Satellite Networks's stock has gained 9.84% in the past year. It has overperformed other stocks in the communication equipment industry by 16 percentage points.