Applied Materials (AMAT) Announces Quarterly Earnings, Beats Estimates By $0.01 EPS
Applied Materials (NASDAQ:AMAT) posted its quarterly earnings results on Thursday. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01, Stock Ratings Network.com reports. The company had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.29 billion.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Applied Materials in a research note on Wednesday, July 30th. They now have a $22.00 price target on the stock. On the ratings front, analysts at Argus raised their price target on shares of Applied Materials from $25.00 to $28.00 in a research note on Tuesday, July 15th. They now have a “buy” rating on the stock. Finally, analysts at B. Riley upgraded shares of Applied Materials from a “neutral” rating to a “buy” rating in a research note on Tuesday, July 15th. They now have a $25.00 price target on the stock, up previously from $23.06. Six investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Applied Materials presently has an average rating of “Buy” and an average price target of $24.35.
Applied Materials (NASDAQ:AMAT) traded up 0.86% on Thursday, hitting $21.15. The stock had a trading volume of 11,155,310 shares. Applied Materials has a one year low of $14.85 and a one year high of $23.46. The stock’s 50-day moving average is $22.03 and its 200-day moving average is $20.19. The company has a market cap of $25.748 billion and a P/E ratio of 29.79. Applied Materials also saw unusually large options trading on Wednesday. Stock investors acquired 65,197 call options on the stock. This is an increase of 579% compared to the typical daily volume of 9,608 call options.
Applied Materials, Inc (NASDAQ:AMAT) provides manufacturing equipment, services and software to the global semiconductor, flat panel display, solar photovoltaic (PV) and related industries.
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