Zacks: Analysts Expect PTC Inc. (PTC) Will Announce Quarterly Sales of $299.79 Million

Equities research analysts expect PTC Inc. (NASDAQ:PTC) to post $299.79 million in sales for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for PTC’s earnings. The highest sales estimate is $301.20 million and the lowest is $298.66 million. PTC reported sales of $286.33 million in the same quarter last year, which indicates a positive year over year growth rate of 4.7%. The company is scheduled to announce its next earnings results on Wednesday, January 17th.

According to Zacks, analysts expect that PTC will report full year sales of $299.79 million for the current financial year, with estimates ranging from $1.23 billion to $1.24 billion. For the next fiscal year, analysts expect that the business will report sales of $1.35 billion per share, with estimates ranging from $1.34 billion to $1.37 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 issued its earnings results on Wednesday, October 25th. The technology company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The business had revenue of $306.38 million during the quarter, compared to analysts’ expectations of $306.59 million. PTC had a return on equity of 8.08% and a net margin of 0.54%. PTC’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.20 EPS.

A number of equities analysts have issued reports on PTC shares. Royal Bank of Canada restated a “buy” rating and issued a $65.00 price objective on shares of PTC in a research report on Monday, September 4th. Robert W. Baird reaffirmed a “buy” rating and set a $65.00 target price on shares of PTC in a research note on Thursday, August 31st. Evercore ISI set a $65.00 target price on shares of PTC and gave the company a “buy” rating in a research note on Monday, August 28th. Berenberg Bank initiated coverage on shares of PTC in a research note on Wednesday, August 23rd. They set a “buy” rating and a $66.00 target price on the stock. Finally, BidaskClub raised shares of PTC from a “hold” rating to a “buy” rating in a research note on Wednesday, October 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. PTC currently has an average rating of “Buy” and an average price target of $65.88.

In other news, insider James E. Heppelmann sold 25,000 shares of the stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $64.58, for a total value of $1,614,500.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Anthony Dibona sold 4,920 shares of the stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $64.58, for a total transaction of $317,733.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,924 shares of company stock valued at $3,627,304. 1.02% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in PTC. Tributary Capital Management LLC purchased a new position in PTC in the 3rd quarter worth about $109,000. Stephens Inc. AR bought a new position in PTC during the 2nd quarter worth about $126,000. US Bancorp DE grew its holdings in PTC by 56.2% during the 2nd quarter. US Bancorp DE now owns 2,604 shares of the technology company’s stock worth $144,000 after acquiring an additional 937 shares in the last quarter. Advisor Group Inc. grew its holdings in PTC by 7.4% during the 2nd quarter. Advisor Group Inc. now owns 2,711 shares of the technology company’s stock worth $150,000 after acquiring an additional 186 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in PTC by 85.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,013 shares of the technology company’s stock worth $165,000 after acquiring an additional 1,389 shares in the last quarter. 97.99% of the stock is currently owned by institutional investors and hedge funds.

Shares of PTC (NASDAQ:PTC) traded down $0.89 during trading hours on Wednesday, reaching $60.55. 942,400 shares of the company were exchanged, compared to its average volume of 1,186,606. The stock has a market cap of $7,134.74, a PE ratio of 104.14 and a beta of 1.33. PTC has a one year low of $45.72 and a one year high of $67.12. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.98 and a current ratio of 0.98.

PTC declared that its Board of Directors has authorized a share buyback program on Tuesday, September 19th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to buy up to 7.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

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About PTC

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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