Brokerages Expect PTC Inc. (PTC) Will Announce Earnings of $0.37 Per Share
Wall Street brokerages predict that PTC Inc. (NASDAQ:PTC) will post earnings of $0.37 per share for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for PTC’s earnings, with estimates ranging from $0.35 to $0.43. PTC reported earnings of $0.20 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 85%. The business is scheduled to report its next earnings results on Wednesday, October 25th.
According to Zacks, analysts expect that PTC will report full year earnings of $1.21 per share for the current financial year, with EPS estimates ranging from $1.19 to $1.26. For the next financial year, analysts anticipate that the company will post earnings of $1.49 per share, with EPS estimates ranging from $1.27 to $1.65. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that that provide coverage for PTC.
PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, July 19th. The technology company reported $0.28 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.28. PTC had a negative net margin of 3.46% and a positive return on equity of 6.69%. The company had revenue of $291.92 million for the quarter, compared to analyst estimates of $290.55 million. During the same quarter last year, the firm posted $0.26 earnings per share. The business’s quarterly revenue was up .8% on a year-over-year basis.
Several equities analysts have weighed in on the company. Barclays PLC reissued an “overweight” rating and issued a $65.00 target price (down previously from $67.00) on shares of PTC in a research note on Saturday, July 22nd. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $68.00 price target on shares of PTC in a research report on Thursday, July 20th. Pacific Crest raised their price target on PTC from $62.00 to $67.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 6th. Robert W. Baird reiterated a “buy” rating and set a $65.00 price objective on shares of PTC in a report on Thursday, August 31st. Finally, BidaskClub downgraded PTC from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $62.65.
In other PTC news, EVP Barry F. Cohen sold 27,374 shares of the firm’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $54.67, for a total transaction of $1,496,536.58. Following the sale, the executive vice president now owns 79,729 shares in the company, valued at $4,358,784.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Anthony Dibona sold 2,205 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $55.88, for a total value of $123,215.40. Following the sale, the executive vice president now owns 22,228 shares in the company, valued at approximately $1,242,100.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 65,329 shares of company stock valued at $3,588,097. Company insiders own 1.02% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Stephens Inc. AR bought a new position in shares of PTC during the second quarter valued at about $126,000. Toronto Dominion Bank grew its stake in shares of PTC by 10.0% in the first quarter. Toronto Dominion Bank now owns 2,475 shares of the technology company’s stock worth $130,000 after purchasing an additional 225 shares during the last quarter. Gilder Gagnon Howe & Co. LLC bought a new stake in shares of PTC in the first quarter worth about $132,000. US Bancorp DE grew its stake in shares of PTC by 56.2% in the second quarter. US Bancorp DE now owns 2,604 shares of the technology company’s stock worth $144,000 after purchasing an additional 937 shares during the last quarter. Finally, Advisor Group Inc. grew its stake in shares of PTC by 7.4% in the second quarter. Advisor Group Inc. now owns 2,711 shares of the technology company’s stock worth $150,000 after purchasing an additional 186 shares during the last quarter. Institutional investors and hedge funds own 98.15% of the company’s stock.
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PTC (NASDAQ PTC) traded up 1.17% during mid-day trading on Friday, hitting $56.05. 764,824 shares of the stock were exchanged. The company’s market cap is $6.48 billion. PTC has a one year low of $42.28 and a one year high of $60.22. The company has a 50-day moving average price of $54.65 and a 200-day moving average price of $55.03.
PTC Inc is a global computer software and services company. The Company offers a portfolio of computer-aided design (CAD) modeling, product lifecycle management (PLM) and service lifecycle management (SLM) solutions for manufacturers to create, operate, and service products. It offers a suite of Internet of Things (IoT) solutions that enables its customers to connect, manage and analyze data, and create applications.
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