Advanced Energy Industries (NASDAQ:AEIS) Announces Quarterly Earnings Results

Advanced Energy Industries (NASDAQ:AEIS) issued its quarterly earnings data on Tuesday. The electronics maker reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.14, Briefing.com reports. Advanced Energy Industries had a net margin of 6.00% and a return on equity of 10.51%. The business had revenue of $364.95 million during the quarter, compared to analysts’ expectations of $350.06 million. During the same quarter in the previous year, the company earned $0.95 EPS. The business’s 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 Trading Down 7.5 %

AEIS traded down $8.73 during trading on Thursday, reaching $107.64. 327,925 shares of the company’s stock were exchanged, compared to its average volume of 206,704. Advanced Energy Industries has a one year low of $81.86 and a one year high of $125.31. The company has a current ratio of 5.61, a quick ratio of 4.40 and a debt-to-equity ratio of 0.78. The stock has a market capitalization 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. The firm has a fifty day moving average price of $109.18 and a two-hundred day moving average price of $103.63.

Analyst Upgrades and Downgrades

Several equities analysts have commented on AEIS shares. Benchmark reissued a “buy” rating and issued a $117.00 target price on shares of Advanced Energy Industries in a report on Wednesday. TD Cowen raised their target price on shares of Advanced Energy Industries from $100.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday. Susquehanna raised their target price on shares of Advanced Energy Industries from $90.00 to $103.00 and gave the company a “neutral” rating in a report on Wednesday. Wells Fargo & Company raised their target price on shares of Advanced Energy Industries from $97.00 to $103.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Citigroup lowered shares of Advanced Energy Industries from a “buy” rating to a “neutral” rating and set a $113.00 target price on the stock. in a report on Monday, July 15th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Advanced Energy Industries 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.