AU Optronics (AUO) Posts Quarterly Earnings Results, Beats Estimates By $0.18 EPS
AU Optronics (NYSE:AUO) released its earnings data on Wednesday. The company reported $0.42 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.24 by $0.18, American Banking and Market News reports. The company had revenue of $102.04 billion for the quarter, compared to the consensus estimate of $101.59 billion. During the same quarter in the prior year, the company posted $0.43 earnings per share. The company’s quarterly revenue was down 9.2% on a year-over-year basis.
A number of research firms have recently commented on AUO. Analysts at Citigroup Inc. upgraded shares of AU Optronics from a “sell” rating to a “buy” rating in a research note on Wednesday. On a related note, analysts at Sanford C. Bernstein downgraded shares of AU Optronics from a “market perform” rating to an “underperform” rating in a research note on Friday, July 18th. Finally, analysts at Zacks downgraded shares of AU Optronics from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 1st. They now have a $4.30 price target on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. AU Optronics currently has an average rating of “Hold” and a consensus target price of $4.30.
Shares of AU Optronics (NYSE:AUO) traded up 5.75% during mid-day trading on Wednesday, hitting $4.60. The stock had a trading volume of 222,293 shares. AU Optronics has a 52-week low of $2.71 and a 52-week high of $4.61. The stock has a 50-day moving average of $4.17 and a 200-day moving average of $3.63. The company has a market cap of $4.427 billion and a P/E ratio of 17.40.
AU Optronics Corp. is principally engaged in the research, development, design, manufacture and distribution of flat panel displays.
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