Advanced Energy Industries (NASDAQ:AEIS – Get Free Report) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.65-1.15 for the period, compared to the consensus earnings per share estimate of $0.90. The company issued revenue guidance of $350-390 million, compared to the consensus revenue estimate of $373.04 million. Advanced Energy Industries also updated its Q3 2024 guidance to 0.650-1.150 EPS.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on the stock. Wells Fargo & Company increased 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. Susquehanna raised their target price on Advanced Energy Industries from $90.00 to $103.00 and gave the stock a neutral rating in a research report on Wednesday. StockNews.com upgraded Advanced Energy Industries from a sell rating to a hold rating in a research report on Wednesday. Citigroup lowered Advanced Energy Industries from a buy rating to a neutral rating and set a $113.00 price objective for the company. in a research note on Monday, July 15th. Finally, TD Cowen boosted their target price on shares of Advanced Energy Industries from $100.00 to $120.00 and gave the company a hold rating in a research note on Wednesday. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $110.14.
Read Our Latest Analysis on AEIS
Advanced Energy Industries Price Performance
Advanced Energy Industries (NASDAQ:AEIS – Get Free Report) last announced its earnings results on Tuesday, July 30th. The electronics maker reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.14. Advanced Energy Industries had a net margin of 6.00% and a return on equity of 10.51%. The company 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 firm posted $0.95 earnings per share. The company’s revenue was down 12.2% on a year-over-year basis. As a group, equities research analysts expect that Advanced Energy Industries will post 2.33 EPS for the current fiscal year.
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.
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