GT Advanced Technologies Inc. (GTAT) Releases Q1 Earnings Guidance
GT Advanced Technologies Inc. (NASDAQ:GTAT) updated its first quarter earnings guidance on Monday. The company provided earnings per share (EPS) guidance of ($0.25)-($0.20) for the period, compared to the Thomson Reuters consensus estimate of ($0.07), American Banking & Market News reports. The company issued revenue guidance of $20-30 million, compared to the consensus revenue estimate of $122.58 million.GT Advanced Technologies also updated its FY14 guidance to $0.02-0.18 EPS.
On a related note, analysts at Canaccord Genuity raised their price target on shares of GT Advanced Technologies from $13.00 to $15.00 in a research note on Tuesday, February 18th. They now have a buy rating on the stock. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $11.63.
GT Advanced Technologies Inc. (NASDAQ:GTAT) opened at 12.11 on Monday. GT Advanced Technologies Inc. has a 52-week low of $2.61 and a 52-week high of $12.89. The stock has a 50-day moving average of $10.07 and a 200-day moving average of $8.58. The company’s market cap is $1.480 billion.
GT Advanced Technologies (NASDAQ:GTAT) last released its earnings data on Monday, February 24th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.09. The company had revenue of $32.60 million for the quarter, compared to the consensus estimate of $37.38 million. On average, analysts predict that GT Advanced Technologies Inc. will post $-0.44 earnings per share for the current fiscal year.
GT Advanced Technologies Inc is diversified technology company with crystal growth equipment and solutions for the global solar, light emitting diode (NASDAQ:GTAT) and electronics industries.
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