Brokerages Anticipate Advanced Energy Industries, Inc. (AEIS) Will Announce Quarterly Sales of $165.80 Million
Brokerages expect that Advanced Energy Industries, Inc. (NASDAQ:AEIS) will announce $165.80 million in sales for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Advanced Energy Industries’ earnings, with the highest sales estimate coming in at $167.70 million and the lowest estimate coming in at $164.50 million. Advanced Energy Industries reported sales of $126.55 million during the same quarter last year, which indicates a positive year over year growth rate of 31%. The firm is scheduled to issue its next earnings report on Monday, October 30th.
According to Zacks, analysts expect that Advanced Energy Industries will report full year sales of $165.80 million for the current financial year, with estimates ranging from $642.00 million to $653.90 million. For the next fiscal year, analysts forecast that the firm will post sales of $677.35 million per share, with estimates ranging from $642.40 million to $700.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Advanced Energy Industries.
Advanced Energy Industries (NASDAQ:AEIS) last issued its quarterly earnings results on Monday, July 31st. The electronics maker reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.15. Advanced Energy Industries had a net margin of 27.42% and a return on equity of 36.19%. The business had revenue of $165.95 million for the quarter, compared to analysts’ expectations of $155.72 million. During the same period last year, the business earned $0.73 earnings per share. The business’s quarterly revenue was up 39.7% on a year-over-year basis.
Several research firms have recently weighed in on AEIS. BidaskClub downgraded Advanced Energy Industries from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. ValuEngine raised Advanced Energy Industries from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Zacks Investment Research raised Advanced Energy Industries from a “hold” rating to a “strong-buy” rating and set a $86.00 target price on the stock in a research report on Monday, May 8th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Advanced Energy Industries has an average rating of “Buy” and an average price target of $72.25.
Advanced Energy Industries (AEIS) opened at 71.17 on Monday. Advanced Energy Industries has a one year low of $41.01 and a one year high of $86.25. The company has a market cap of $2.84 billion, a PE ratio of 18.08 and a beta of 1.34. The stock has a 50 day moving average of $70.40 and a 200 day moving average of $69.34.
In other news, CEO Yuval Wasserman sold 12,281 shares of the stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $80.00, for a total transaction of $982,480.00. Following the transaction, the chief executive officer now owns 130,349 shares of the company’s stock, valued at approximately $10,427,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas M. Rohrs sold 4,000 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $64.87, for a total value of $259,480.00. The disclosure for this sale can be found here. Insiders sold a total of 89,796 shares of company stock worth $6,836,106 in the last ninety days. 1.13% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in Advanced Energy Industries by 117,677.4% in the first quarter. BlackRock Inc. now owns 4,971,385 shares of the electronics maker’s stock worth $340,838,000 after buying an additional 4,967,164 shares during the last quarter. AJO LP increased its position in Advanced Energy Industries by 883.6% in the second quarter. AJO LP now owns 284,774 shares of the electronics maker’s stock worth $18,422,000 after buying an additional 255,821 shares during the last quarter. Bank of Montreal Can increased its position in Advanced Energy Industries by 787.7% in the second quarter. Bank of Montreal Can now owns 164,164 shares of the electronics maker’s stock worth $10,620,000 after buying an additional 145,670 shares during the last quarter. Victory Capital Management Inc. increased its position in Advanced Energy Industries by 130.9% in the second quarter. Victory Capital Management Inc. now owns 254,549 shares of the electronics maker’s stock worth $16,466,000 after buying an additional 144,316 shares during the last quarter. Finally, Systematic Financial Management LP purchased a new position in Advanced Energy Industries during the second quarter worth about $9,199,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.
About Advanced Energy Industries
Advanced Energy Industries, Inc is a provider of engineered, precision power conversion, measurement and control solutions. The Company is engaged in designing, manufacturing, selling and supporting its power conversion products and solutions that transform power into various forms in various applications ranging from manufacturing and industrial processes to instrumentation, and test and measurement.
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