"The company is likely to post upside to sales and gross margin, flowing through the beats to raise FY20 guidance and while valuation has become slightly more compelling, a beat and raise and material upside are still anticipated by investors," Wedbush analyst Christopher Svezia wrote in a note to clients on Wednesday.
His EPS estimate of $2.38 for the quarter is ahead of the consensus estimate of $2.33, according to numbers compiled by FactSet. Analysts are expecting $529 million in revenue.reports Wednesday after the close, and Bespoke found that the company exceeds estimates 91% of the time. Credit Suisse said the company continues to have a compelling valuation, and that it is "well positioned to benefit from recovery in memory CapEx." The firm has an outperform rating and $278 target on the stock, which is around 19% higher than where it traded on Friday.
The firm's EPS estimate of $3.00 is just slightly below the Street's consensus of $3.01, while the firm's revenue estimate of $2.16 billion is in-line with estimates.Of course, topping quarterly estimates isn't necessarily indicative of a company's health. Sometimes companies purposefully lower estimates — called sandbagging — so that they are virtually guaranteed to beat estimates.
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Reuters - 🏆 2. / 97 Read more »