IPG Photonics Corporation (IPGP) to Release Earnings on Tuesday
IPG Photonics Corporation (NASDAQ:IPGP) will be releasing its earnings data before the market opens on Tuesday, October 31st. Analysts expect IPG Photonics Corporation to post earnings of $1.79 per share for the quarter. IPG Photonics Corporation has set its Q3 guidance at $1.70-1.90 EPS.
IPG Photonics Corporation (NASDAQ:IPGP) last announced its quarterly earnings data on Tuesday, August 1st. The semiconductor company reported $1.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.28. IPG Photonics Corporation had a return on equity of 19.75% and a net margin of 26.84%. The firm had revenue of $369.37 million for the quarter, compared to analyst estimates of $333.06 million. During the same quarter in the prior year, the company posted $1.25 earnings per share. IPG Photonics Corporation’s quarterly revenue was up 46.1% on a year-over-year basis. On average, analysts expect IPG Photonics Corporation to post $6.6 EPS for the current fiscal year and $7.14 EPS for the next fiscal year.
Shares of IPG Photonics Corporation (IPGP) traded up 2.0788% on Tuesday, reaching $209.9864. The company had a trading volume of 228,075 shares. The company has a market capitalization of $11.30 billion, a price-to-earnings ratio of 35.1618 and a beta of 1.68. The stock has a 50 day moving average price of $187.45 and a 200-day moving average price of $156.38. IPG Photonics Corporation has a 12 month low of $82.12 and a 12 month high of $210.00.
In other news, Director William S. Hurley sold 8,167 shares of the firm’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $165.42, for a total value of $1,350,985.14. Following the completion of the sale, the director now owns 12,672 shares of the company’s stock, valued at $2,096,202.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Alexander Ovtchinnikov sold 12,000 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $160.30, for a total value of $1,923,600.00. Following the completion of the sale, the senior vice president now directly owns 83,595 shares of the company’s stock, valued at approximately $13,400,278.50. The disclosure for this sale can be found here. Insiders sold a total of 63,017 shares of company stock worth $10,647,886 over the last 90 days. Insiders own 33.80% of the company’s stock.
Several brokerages have recently issued reports on IPGP. Needham & Company LLC reiterated a “buy” rating and set a $182.00 price target (up from $160.00) on shares of IPG Photonics Corporation in a research report on Tuesday, August 1st. Benchmark Co. reiterated a “buy” rating and set a $180.00 price target on shares of IPG Photonics Corporation in a research report on Wednesday, August 2nd. Canaccord Genuity lifted their price target on IPG Photonics Corporation from $152.00 to $162.00 and gave the company a “hold” rating in a research report on Wednesday, August 2nd. Stifel Nicolaus lifted their price target on IPG Photonics Corporation from $135.00 to $145.00 and gave the company a “hold” rating in a research report on Friday, June 30th. Finally, Zacks Investment Research cut IPG Photonics Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $162.25.
IPG Photonics Corporation Company Profile
IPG Photonics Corporation is a developer and manufacturer of a line of fiber lasers, fiber amplifiers, diode lasers, laser systems and optical accessories that are used for various applications. The Company offers a line of lasers and amplifiers, which are used in materials processing, communications and medical applications.
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