Advanced Energy Industries (NASDAQ:AEIS) Posts Quarterly Earnings Results, Beats Expectations By $0.14 EPS

Advanced Energy Industries (NASDAQ:AEIS) issued its quarterly earnings results on Tuesday. The electronics maker reported $0.85 EPS for the quarter, topping the consensus estimate of $0.71 by $0.14, Briefing.com reports. Advanced Energy Industries had a return on equity of 10.51% and a net margin of 6.00%. The firm had revenue of $364.95 million during the quarter, compared to analysts’ expectations of $350.06 million. During the same period in the previous year, the business earned $0.95 earnings per share. The firm’s revenue for the quarter 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

Advanced Energy Industries stock traded down $8.73 during mid-day trading on Thursday, reaching $107.64. 327,925 shares of the company were exchanged, compared to its average volume of 206,704. Advanced Energy Industries has a twelve month low of $81.86 and a twelve month high of $125.31. The firm’s 50-day simple moving average is $109.18 and its two-hundred day simple moving average is $103.63. The company has a debt-to-equity ratio of 0.78, a quick ratio of 4.40 and a current ratio of 5.61. The firm has a market cap of $4.03 billion, a PE ratio of 39.48, a price-to-earnings-growth ratio of 5.30 and a beta of 1.52.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Wells Fargo & Company boosted their price objective on Advanced Energy Industries from $97.00 to $103.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Susquehanna boosted their price objective on Advanced Energy Industries from $90.00 to $103.00 and gave the stock a “neutral” rating in a research note on Wednesday. TD Cowen boosted their price objective on Advanced Energy Industries from $100.00 to $120.00 and gave the stock a “hold” rating in a research note on Wednesday. StockNews.com raised Advanced Energy Industries from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Advanced Energy Industries in a research note on Wednesday. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price 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.