American Superconductor (NASDAQ:AMSC) Issues Q3 2024 Earnings Guidance

American Superconductor (NASDAQ:AMSC) issued an update on its third quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.050- for the period, compared to the consensus estimate of 0.070. The company issued revenue guidance of $55.0 million-$60.0 million, compared to the consensus revenue estimate of $56.0 million. American Superconductor also updated its Q3 guidance to $0.05 EPS.

American Superconductor Stock Performance

Shares of American Superconductor stock traded down $0.60 during midday trading on Wednesday, reaching $23.48. 767,567 shares of the company’s stock traded hands, compared to its average volume of 983,567. The stock has a 50 day moving average of $22.09 and a 200-day moving average of $20.88. American Superconductor has a 12 month low of $6.08 and a 12 month high of $32.70. The company has a market cap of $868.71 million, a PE ratio of -60.21 and a beta of 2.14.

American Superconductor (NASDAQ:AMSC) last posted its earnings results on Tuesday, August 6th. The technology company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.09. American Superconductor had a negative net margin of 5.29% and a positive return on equity of 1.15%. The firm had revenue of $40.29 million during the quarter, compared to analysts’ expectations of $39.55 million. On average, equities analysts anticipate that American Superconductor will post 0.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AMSC has been the subject of several recent research reports. Roth Mkm reissued a “buy” rating and set a $29.00 price objective on shares of American Superconductor in a research report on Monday, September 30th. Craig Hallum reissued a “buy” rating and issued a $33.00 target price on shares of American Superconductor in a report on Tuesday, September 10th.

About American Superconductor

American Superconductor Corporation, together with its subsidiaries, provides megawatt-scale power resiliency solutions worldwide. The company operates through Grid and Wind segments. The Grid segment offers products and services that enable electric utilities, industrial facilities, and renewable energy project developers to connect, transmit, and distribute power under the Gridtec Solutions brand.