Zacks: Analysts Expect PTC Inc. (PTC) Will Announce Quarterly Sales of $305.83 Million
Brokerages forecast that PTC Inc. (NASDAQ:PTC) will post sales of $305.83 million for the current quarter, Zacks reports. Six analysts have provided estimates for PTC’s earnings, with the highest sales estimate coming in at $307.90 million and the lowest estimate coming in at $304.66 million. PTC reported sales of $288.24 million in the same quarter last year, which indicates a positive year over year growth rate of 6.1%. The business is scheduled to issue its next quarterly earnings report on Wednesday, October 25th.
On average, analysts expect that PTC will report full year sales of $305.83 million for the current year, with estimates ranging from $1.16 billion to $1.17 billion. For the next financial year, analysts expect that the company will post sales of $1.24 billion per share, with estimates ranging from $1.21 billion to $1.26 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for PTC.
PTC (NASDAQ:PTC) last posted its earnings results on Wednesday, July 19th. The technology company reported $0.28 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.28. PTC had a negative net margin of 3.46% and a positive return on equity of 6.69%. The firm had revenue of $291.92 million for the quarter, compared to analyst estimates of $290.55 million. During the same period in the previous year, the firm posted $0.26 EPS. The company’s revenue for the quarter was up .8% compared to the same quarter last year.
A number of analysts have recently issued reports on PTC shares. Benchmark Co. started coverage on PTC in a research note on Thursday, May 18th. They set a “buy” rating and a $65.00 price objective on the stock. Robert W. Baird started coverage on PTC in a research report on Wednesday, May 10th. They issued an “outperform” rating and a $65.00 target price on the stock. BidaskClub downgraded PTC from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Barclays PLC restated an “overweight” rating and issued a $65.00 target price (down previously from $67.00) on shares of PTC in a research report on Saturday, July 22nd. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and issued a $68.00 price objective on shares of PTC in a report on Thursday, July 20th. Two analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $62.25.
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PTC (PTC) traded up 1.31% on Tuesday, reaching $54.13. 136,075 shares of the company’s stock traded hands. The company’s market cap is $6.26 billion. PTC has a 12 month low of $41.40 and a 12 month high of $60.22. The firm’s 50 day moving average price is $55.23 and its 200 day moving average price is $54.94.
In other news, EVP Anthony Dibona sold 2,205 shares of PTC stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $55.88, for a total transaction of $123,215.40. Following the sale, the executive vice president now directly owns 22,228 shares of the company’s stock, valued at $1,242,100.64. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Barry F. Cohen sold 27,374 shares of PTC stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $54.67, for a total value of $1,496,536.58. Following the sale, the executive vice president now directly owns 79,729 shares in the company, valued at $4,358,784.43. The disclosure for this sale can be found here. In the last quarter, insiders have sold 65,329 shares of company stock worth $3,588,097. 1.02% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of PTC by 10,192.0% in the first quarter. BlackRock Inc. now owns 10,303,522 shares of the technology company’s stock valued at $541,450,000 after buying an additional 10,203,410 shares during the last quarter. FMR LLC boosted its position in PTC by 115.0% in the first quarter. FMR LLC now owns 5,150,179 shares of the technology company’s stock valued at $270,642,000 after buying an additional 2,755,079 shares in the last quarter. Marshall Wace North America L.P. bought a new position in PTC during the first quarter valued at about $130,787,000. Thornburg Investment Management Inc. bought a new position in PTC during the first quarter valued at about $109,170,000. Finally, Artisan Partners Limited Partnership bought a new position in PTC during the second quarter valued at about $104,303,000. Institutional investors and hedge funds own 98.40% of the company’s stock.
PTC Inc is a global computer software and services company. The Company offers a portfolio of computer-aided design (CAD) modeling, product lifecycle management (PLM) and service lifecycle management (SLM) solutions for manufacturers to create, operate, and service products. It offers a suite of Internet of Things (IoT) solutions that enables its customers to connect, manage and analyze data, and create applications.
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