Advanced Energy Industries (NASDAQ:AEIS) Announces Earnings Results

Advanced Energy Industries (NASDAQ:AEIS) announced its quarterly earnings results on Tuesday. The electronics maker reported $0.85 EPS for the quarter, beating the consensus estimate of $0.71 by $0.14, Briefing.com reports. Advanced Energy Industries had a return on equity of 11.65% and a net margin of 6.58%. The business had revenue of $364.95 million for the quarter, compared to analyst estimates of $350.06 million. During the same quarter in the previous year, the firm earned $0.95 EPS. Advanced Energy Industries’s quarterly 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

Advanced Energy Industries stock opened at $116.37 on Thursday. The stock has a market cap of $4.36 billion, a PE ratio of 42.78, a P/E/G ratio of 5.39 and a beta of 1.52. The company has a quick ratio of 4.40, a current ratio of 5.61 and a debt-to-equity ratio of 0.78. Advanced Energy Industries has a 12-month low of $81.86 and a 12-month high of $126.38. The business’s 50-day moving average price is $109.18 and its two-hundred day moving average price is $103.63.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Advanced Energy Industries in a research note on Wednesday. Wells Fargo & Company lifted 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. StockNews.com raised Advanced Energy Industries from a “sell” rating to a “hold” rating in a research report on Wednesday. Benchmark restated a “buy” rating and set a $117.00 target price on shares of Advanced Energy Industries in a report on Wednesday. Finally, TD Cowen boosted their price target on shares of Advanced Energy Industries from $100.00 to $120.00 and gave the stock a “hold” rating in a research report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock 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.