TTM Technologies, Inc. (NASDAQ:TTMI) Expected to Announce Earnings of $0.24 Per Share
Brokerages expect TTM Technologies, Inc. (NASDAQ:TTMI) to report earnings of $0.24 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for TTM Technologies’ earnings, with the lowest EPS estimate coming in at $0.22 and the highest estimate coming in at $0.26. TTM Technologies reported earnings per share of $0.27 during the same quarter last year, which indicates a negative year-over-year growth rate of 11.1%. The company is scheduled to announce its next earnings report after the market closes on Wednesday, August 2nd.
On average, analysts expect that TTM Technologies will report full year earnings of $1.28 per share for the current year, with EPS estimates ranging from $1.21 to $1.34. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.39 per share, with EPS estimates ranging from $1.32 to $1.45. Zacks’ EPS averages are an average based on a survey of analysts that cover TTM Technologies.
TTM Technologies (NASDAQ:TTMI) last announced its quarterly earnings data on Wednesday, May 3rd. The technology company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.13. TTM Technologies had a net margin of 2.92% and a return on equity of 18.17%. The company had revenue of $625.20 million during the quarter, compared to analyst estimates of $615 million. During the same quarter last year, the business posted $0.14 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis.
TTMI has been the subject of several research analyst reports. Zacks Investment Research raised shares of TTM Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, April 12th. TheStreet raised shares of TTM Technologies from a “c” rating to a “b-” rating in a research report on Wednesday, May 3rd. J P Morgan Chase & Co raised shares of TTM Technologies from a “neutral” rating to an “overweight” rating and set a $21.00 price target on the stock in a research report on Tuesday, April 4th. Needham & Company LLC increased their price target on shares of TTM Technologies from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, June 9th. Finally, BidaskClub raised shares of TTM Technologies from a “buy” rating to a “strong-buy” rating in a report on Monday. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $20.25.
In other TTM Technologies news, SVP Daniel J. Weber sold 3,605 shares of the firm’s stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $17.92, for a total transaction of $64,601.60. Following the sale, the senior vice president now owns 48,270 shares of the company’s stock, valued at $864,998.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kenton K. Alder sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $18.09, for a total transaction of $54,270.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,074 shares of company stock worth $249,890. 28.40% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in TTMI. Kennedy Capital Management Inc. acquired a new position in shares of TTM Technologies during the first quarter worth about $4,540,000. State of Alaska Department of Revenue raised its position in shares of TTM Technologies by 1.5% in the first quarter. State of Alaska Department of Revenue now owns 9,310 shares of the technology company’s stock worth $150,000 after buying an additional 140 shares during the period. Paloma Partners Management Co acquired a new position in shares of TTM Technologies during the first quarter worth about $1,773,000. Mckinley Capital Management LLC Delaware raised its position in shares of TTM Technologies by 130.8% in the first quarter. Mckinley Capital Management LLC Delaware now owns 295,389 shares of the technology company’s stock worth $4,765,000 after buying an additional 167,428 shares during the period. Finally, Prudential Financial Inc. raised its position in shares of TTM Technologies by 28.3% in the first quarter. Prudential Financial Inc. now owns 967,728 shares of the technology company’s stock worth $15,609,000 after buying an additional 213,310 shares during the period. 95.16% of the stock is currently owned by institutional investors.
Shares of TTM Technologies (NASDAQ:TTMI) traded down 5.28% during midday trading on Friday, reaching $17.93. 345,181 shares of the company were exchanged. TTM Technologies has a 52 week low of $9.21 and a 52 week high of $19.54. The firm has a 50-day moving average of $18.23 and a 200 day moving average of $16.54. The firm has a market capitalization of $1.82 billion, a P/E ratio of 25.18 and a beta of 1.47.
TTM Technologies Company Profile
TTM Technologies, Inc is a manufacturer of printed circuit board (PCB) products and is focused on technologically advanced PCBs and electro-mechanical solutions (E-M Solutions). As of January 2, 2017, the Company operated a total of 25 specialized facilities in North America and China. The Company’s segments include PCB, E-M Solutions and Corporate.
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