PTC Inc. (PTC) Expected to Announce Quarterly Sales of $305.83 Million
Brokerages expect that PTC Inc. (NASDAQ:PTC) will announce sales of $305.83 million for the current quarter, according to Zacks. Six analysts have made estimates for PTC’s earnings. The lowest sales estimate is $304.66 million and the highest is $307.90 million. PTC reported sales of $288.24 million in the same quarter last year, which indicates a positive year over year growth rate of 6.1%. The company is scheduled to report its next quarterly earnings report on Wednesday, October 25th.
According to Zacks, analysts expect that PTC will report full-year sales of $305.83 million for the current financial year, with estimates ranging from $1.16 billion to $1.17 billion. For the next year, analysts forecast that the business will report sales of $1.24 billion per share, with estimates ranging from $1.21 billion to $1.26 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover PTC.
PTC (NASDAQ:PTC) last announced its quarterly earnings data on Wednesday, July 19th. The technology company reported $0.28 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.28. The firm had revenue of $291.92 million for the quarter, compared to analysts’ expectations of $290.55 million. PTC had a positive return on equity of 6.69% and a negative net margin of 3.46%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the firm earned $0.26 earnings per share.
Several brokerages have recently issued reports on PTC. J P Morgan Chase & Co restated an “overweight” rating and set a $68.00 target price on shares of PTC in a research report on Thursday, July 20th. Pacific Crest upped their target price on shares of PTC from $62.00 to $67.00 and gave the company an “overweight” rating in a research report on Tuesday, June 6th. Goldman Sachs Group, Inc. (The) began coverage on shares of PTC in a report on Monday, July 17th. They set a “neutral” rating and a $62.00 price target on the stock. BidaskClub upgraded shares of PTC from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Robert W. Baird reiterated a “buy” rating and set a $65.00 price target on shares of PTC in a report on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the company’s stock. PTC has an average rating of “Buy” and a consensus target price of $62.65.
Shares of PTC (PTC) opened at 56.02 on Thursday. The company has a 50 day moving average price of $54.68 and a 200 day moving average price of $55.05. The company’s market capitalization is $6.48 billion. PTC has a 1-year low of $43.01 and a 1-year high of $60.22.
PTC declared that its Board of Directors has approved a share buyback program on Tuesday, September 19th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 7.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.
In other PTC news, EVP Anthony Dibona sold 2,205 shares of the company’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 transaction, the executive vice president now directly owns 22,228 shares in the company, valued at approximately $1,242,100.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Donald K. Grierson sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $53.77, for a total transaction of $268,850.00. Following the completion of the transaction, the director now owns 62,300 shares in the company, valued at $3,349,871. The disclosure for this sale can be found here. Insiders sold a total of 65,329 shares of company stock worth $3,588,097 over the last 90 days. Insiders own 1.11% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Lord Abbett & CO. LLC grew its stake in PTC by 179.8% in the 2nd quarter. Lord Abbett & CO. LLC now owns 149,088 shares of the technology company’s stock worth $8,218,000 after acquiring an additional 95,795 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of PTC in the 2nd quarter worth approximately $695,000. Koch Industries Inc. purchased a new stake in shares of PTC in the 2nd quarter worth approximately $327,000. Nomura Holdings Inc. lifted its position in shares of PTC by 1,506.6% in the 2nd quarter. Nomura Holdings Inc. now owns 85,149 shares of the technology company’s stock worth $4,695,000 after purchasing an additional 79,849 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in shares of PTC by 1.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 169,615 shares of the technology company’s stock worth $9,349,000 after purchasing an additional 2,573 shares during the period. Institutional investors and hedge funds own 97.92% of the company’s stock.
PTC Company Profile
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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