Advanced Energy Industries (NASDAQ:AEIS) Issues Quarterly Earnings Results

Advanced Energy Industries (NASDAQ:AEIS) announced its earnings results on Tuesday. The electronics maker reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.14, Briefing.com reports. Advanced Energy Industries had a net margin of 6.00% and a return on equity of 10.51%. The business had revenue of $364.95 million during the quarter, compared to the consensus estimate of $350.06 million. During the same period in the previous year, the company posted $0.95 earnings per share. The firm’s revenue was down 12.2% on a year-over-year basis. Advanced Energy Industries updated its Q3 guidance to $0.65-1.15 EPS and its Q3 2024 guidance to 0.650-1.150 EPS.

Advanced Energy Industries Stock Performance

Shares of NASDAQ:AEIS traded down $8.73 during trading on Thursday, hitting $107.64. 327,925 shares of the stock traded hands, compared to its average volume of 206,704. The company has a quick ratio of 4.40, a current ratio of 5.61 and a debt-to-equity ratio of 0.78. The company has a fifty day moving average price of $109.18 and a two-hundred day moving average price of $103.63. Advanced Energy Industries has a 52-week low of $81.86 and a 52-week high of $125.31. The company has a market cap of $4.03 billion, a price-to-earnings ratio of 39.48, a P/E/G ratio of 5.30 and a beta of 1.52.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Benchmark reissued a “buy” rating and set a $117.00 target price on shares of Advanced Energy Industries in a research report on Wednesday. TD Cowen increased their price target on shares of Advanced Energy Industries from $100.00 to $120.00 and gave the stock a “hold” rating in a report on Wednesday. Wells Fargo & Company raised their price target on shares of Advanced Energy Industries from $97.00 to $103.00 and gave the stock an “equal weight” rating in a research report on Wednesday. StockNews.com raised shares of Advanced Energy Industries from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Citigroup lowered shares of Advanced Energy Industries from a “buy” rating to a “neutral” rating and set a $113.00 price objective on the stock. in a research note on Monday, July 15th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $110.14.

Advanced Energy Industries Company Profile

Advanced Energy Industries, Inc provides precision power conversion, measurement, and control solutions in the United States and internationally. The company's plasma power products offer solutions to enable innovation for semiconductor and thin film plasma processes, such as dry etch and deposition.