Sectors & IndustriesTechnologyCommunication Equipment

Best Communication Equipment Stocks to Buy Now (2024)

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

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

Ituran Location & Control (NASDAQ:ITRN) is the top communication equipment stock with a Due Diligence Score of 61, which is 33 points higher than the communication equipment industry average of 28. It passed 22 out of 38 due diligence checks and has strong fundamentals. Ituran Location & Control has seen its stock return 17.69% over the past year, underperforming other communication equipment stocks by -44 percentage points.

Hewlett Packard Enterprise Co (NYSE:HPE) is the second best communication equipment stock with a Due Diligence Score of 54, which is 26 points higher than the communication equipment industry average of 28. It passed 19 out of 38 due diligence checks and has strong fundamentals. Hewlett Packard Enterprise Co has seen its stock return 50.82% over the past year, underperforming other communication equipment stocks by -10 percentage points.

Hewlett Packard Enterprise Co has an average 1 year price target of $24.00, an upside of 0.21% from Hewlett Packard Enterprise Co's current stock price of $23.95.

Hewlett Packard Enterprise Co stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 9 analysts covering Hewlett Packard Enterprise Co, 66.67% have issued a Strong Buy rating, 0% have issued a Buy, 33.33% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Ceragon Networks (NASDAQ:CRNT) is the third best communication equipment stock with a Due Diligence Score of 52, which is 24 points higher than the communication equipment industry average of 28. It passed 17 out of 33 due diligence checks and has strong fundamentals. Ceragon Networks has seen its stock return 129.95% over the past year, overperforming other communication equipment stocks by 69 percentage points.

Ceragon Networks has an average 1 year price target of $6.44, an upside of 49.72% from Ceragon Networks's current stock price of $4.30.

Ceragon Networks stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 4 analysts covering Ceragon Networks, 50% have issued a Strong Buy rating, 50% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Out of 11 communication equipment stocks that have issued dividends in the past year, the 3 communication equipment stocks with the highest dividend yields are:

Frequency Electronics (NASDAQ:FEIM) has an annual dividend yield of 7.5%, which is 5 percentage points higher than the communication equipment industry average of 2.55%. Frequency Electronics's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Frequency Electronics's dividend has not shown consistent growth over the last 10 years.

Frequency Electronics's dividend payout ratio of 163.9% indicates that its high dividend yield might not be sustainable for the long-term.

Ituran Location & Control (NASDAQ:ITRN) has an annual dividend yield of 4.54%, which is 2 percentage points higher than the communication equipment industry average of 2.55%. Ituran Location & Control's dividend payout is not stable, having dropped more than 10% five times in the last 10 years. Ituran Location & Control's dividend has shown consistent growth over the last 10 years.

Ituran Location & Control's dividend payout ratio of 53.8% indicates that its high dividend yield is sustainable for the long-term.

Audiocodes (NASDAQ:AUDC) has an annual dividend yield of 3.82%, which is 1 percentage points higher than the communication equipment industry average of 2.55%. 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 90% indicates that its dividend yield might not be sustainable for the long-term.

Communication equipment stocks were up 0.44% in the last day, and up 0.29% over the last week. Hewlett Packard Enterprise Co was the among the top gainers in the communication equipment industry, gaining 10.62% yesterday.

Hewlett Packard shares are trading higher after Stifel maintains its Buy rating on the stock and raised its price target from $22 to $25.

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

Bos Better Online Solutions (NASDAQ:BOSC) is the most undervalued communication equipment stock based on WallStreetZen's Valuation Score. Bos Better Online Solutions has a valuation score of 71, which is 51 points higher than the communication equipment industry average of 20. It passed 5 out of 7 valuation due diligence checks.

Bos Better Online Solutions's stock has gained 22.93% in the past year. It has underperformed other stocks in the communication equipment industry by -38 percentage points.

Gilat Satellite Networks (NASDAQ:GILT) is the second most undervalued communication equipment stock based on WallStreetZen's Valuation Score. Gilat Satellite Networks has a valuation score of 71, which is 51 points higher than the communication equipment industry average of 20. It passed 5 out of 7 valuation due diligence checks.

Gilat Satellite Networks's stock has dropped -4.25% in the past year. It has underperformed other stocks in the communication equipment industry by -65 percentage points.

Ituran Location & Control (NASDAQ:ITRN) is the third most undervalued communication equipment stock based on WallStreetZen's Valuation Score. Ituran Location & Control has a valuation score of 71, which is 51 points higher than the communication equipment industry average of 20. It passed 5 out of 7 valuation due diligence checks.

Ituran Location & Control's stock has gained 17.69% in the past year. It has underperformed other stocks in the communication equipment industry by -44 percentage points.