Zacks: Analysts Anticipate PTC Inc. (PTC) Will Announce Quarterly Sales of $305.83 Million
Equities research analysts expect that PTC Inc. (NASDAQ:PTC) will post $305.83 million in sales for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for PTC’s earnings, with the lowest sales estimate coming in at $304.66 million and the highest estimate coming in at $307.90 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 announce its next earnings report on Wednesday, October 25th.
On average, analysts expect that PTC will report full-year sales of $305.83 million for the current financial year, with estimates ranging from $1.16 billion to $1.17 billion. For the next financial year, analysts anticipate 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 calculations are a mean average based on a survey of sell-side analysts that cover PTC.
PTC (NASDAQ:PTC) last posted its quarterly earnings results on Wednesday, July 19th. The technology company reported $0.28 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ 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 prior year, the firm posted $0.26 earnings per share. The company’s quarterly revenue was up .8% compared to the same quarter last year.
A number of equities analysts have issued reports on PTC shares. Benchmark Co. started coverage on shares of PTC in a report on Thursday, May 18th. They set a “buy” rating and a $65.00 price objective on the stock. Royal Bank Of Canada reaffirmed a “buy” rating and set a $65.00 price objective on shares of PTC in a report on Monday, September 4th. Robert W. Baird reaffirmed a “buy” rating and set a $65.00 price objective on shares of PTC in a report on Thursday, August 31st. Evercore ISI set a $65.00 price objective on shares of PTC and gave the stock a “buy” rating in a report on Monday, August 28th. Finally, Berenberg Bank started coverage on shares of PTC in a report on Wednesday, August 23rd. They set a “buy” rating and a $66.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company. PTC presently has a consensus rating of “Buy” and an average target price of $62.65.
PTC (PTC) opened at 55.40 on Friday. The stock has a 50 day moving average of $54.67 and a 200 day moving average of $55.03. PTC has a 12 month low of $42.79 and a 12 month high of $60.22. The company’s market capitalization is $6.40 billion.
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In related news, Director Donald K. Grierson sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $53.77, for a total value of $268,850.00. Following the sale, the director now directly owns 62,300 shares in the company, valued at approximately $3,349,871. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Anthony Dibona sold 2,205 shares of the business’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $55.88, for a total value of $123,215.40. Following the completion of the sale, the executive vice president now owns 22,228 shares in the company, valued at $1,242,100.64. The disclosure for this sale can be found here. Insiders sold a total of 65,329 shares of company stock worth $3,588,097 over the last 90 days. 1.11% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in PTC by 10,192.0% in the 1st quarter. BlackRock Inc. now owns 10,303,522 shares of the technology company’s stock valued at $541,450,000 after acquiring an additional 10,203,410 shares during the period. Vanguard Group Inc. raised its stake in PTC by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 9,349,753 shares of the technology company’s stock valued at $515,359,000 after acquiring an additional 161,122 shares during the period. FMR LLC raised its stake in PTC by 31.1% in the 2nd quarter. FMR LLC now owns 6,753,178 shares of the technology company’s stock valued at $372,235,000 after acquiring an additional 1,602,999 shares during the period. Epoch Investment Partners Inc. raised its stake in PTC by 4.3% in the 2nd quarter. Epoch Investment Partners Inc. now owns 4,320,584 shares of the technology company’s stock valued at $238,151,000 after acquiring an additional 177,690 shares during the period. Finally, State Street Corp raised its stake in PTC by 2.1% in the 2nd quarter. State Street Corp now owns 3,005,066 shares of the technology company’s stock valued at $165,643,000 after acquiring an additional 60,498 shares during the period. Institutional investors and hedge funds own 98.15% of the company’s stock.
PTC Company Profile
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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