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.
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.
COPYRIGHT VIOLATION WARNING: This report was reported by American Banking News and is the sole property of of American Banking News. If you are reading this report on another website, it was illegally copied and reposted in violation of US & international trademark and copyright laws. The original version of this report can be accessed at https://www.americanbankingnews.com/2017/12/13/zacks-analysts-expect-ptc-inc-ptc-will-announce-quarterly-sales-of-299-79-million.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for PTC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PTC and related companies with MarketBeat.com's FREE daily email newsletter.