Analysts forecast that Advanced Energy (NASDAQ:AEIS) will announce $198.87 million in sales for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Advanced Energy’s earnings, with the lowest sales estimate coming in at $189.95 million and the highest estimate coming in at $202.00 million. Advanced Energy posted sales of $165.87 million in the same quarter last year, which would indicate a positive year over year growth rate of 19.9%. The firm is expected to issue its next earnings results on Monday, July 30th.
On average, analysts expect that Advanced Energy will report full-year sales of $771.98 million for the current financial year, with estimates ranging from $671.00 million to $800.00 million. For the next financial year, analysts anticipate that the business will post sales of $821.26 million per share, with estimates ranging from $733.00 million to $865.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Advanced Energy.
Advanced Energy (NASDAQ:AEIS) last released its quarterly earnings results on Monday, April 30th. The electronics maker reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.01. The firm had revenue of $195.62 million for the quarter, compared to analysts’ expectations of $187.92 million. Advanced Energy had a return on equity of 34.76% and a net margin of 20.47%. The company’s revenue was up 31.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.04 EPS.
In other news, CEO Yuval Wasserman sold 55,540 shares of the company’s stock in a transaction on Friday, May 4th. The stock was sold at an average price of $62.40, for a total value of $3,465,696.00. Following the completion of the sale, the chief executive officer now directly owns 141,929 shares in the company, valued at approximately $8,856,369.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.20% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Summit Trail Advisors LLC increased its stake in Advanced Energy by 5,051.2% in the 1st quarter. Summit Trail Advisors LLC now owns 106,167 shares of the electronics maker’s stock worth $106,000 after buying an additional 104,106 shares in the last quarter. Ramsey Quantitative Systems purchased a new stake in Advanced Energy in the 4th quarter worth $193,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in Advanced Energy in the 4th quarter worth $223,000. Two Sigma Securities LLC purchased a new stake in Advanced Energy in the 4th quarter worth $231,000. Finally, Xact Kapitalforvaltning AB purchased a new stake in Advanced Energy in the 4th quarter worth $259,000. Institutional investors and hedge funds own 92.83% of the company’s stock.
Shares of NASDAQ AEIS traded up $0.10 during midday trading on Monday, hitting $61.93. 260,530 shares of the stock traded hands, compared to its average volume of 435,156. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 1.37 and a beta of 1.35. Advanced Energy has a one year low of $57.35 and a one year high of $95.00.
Advanced Energy announced that its board has approved a stock repurchase program on Monday, May 7th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the electronics maker to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
About Advanced Energy
Advanced Energy Industries, Inc, together with its subsidiaries, designs, manufactures, sells, and supports power conversion and control products that transform electrical power into various usable forms. It offers process power systems, including direct current (DC), pulsed DC, low frequency, high voltage, and radio frequency (RF) power supplies, as well as matching networks and remote plasma sources for reactive gas applications and RF instrumentation.
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