PTC (PTC) Updates Q2 Earnings Guidance
PTC (NASDAQ:PTC) updated its second quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.28-0.32 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.32. The company issued revenue guidance of $300-305 million, compared to the consensus revenue estimate of $302.53 million.PTC also updated its FY18 guidance to $1.29-1.39 EPS.
A number of research firms have recently commented on PTC. Robert W. Baird reaffirmed a buy rating and issued a $68.00 price objective on shares of PTC in a research note on Thursday, January 4th. BidaskClub raised shares of PTC from a sell rating to a hold rating in a research note on Saturday, December 30th. JPMorgan Chase & Co. lowered shares of PTC from an overweight rating to a neutral rating and set a $68.00 price objective on the stock. in a research note on Tuesday, December 12th. Wedbush reaffirmed an outperform rating and issued a $69.00 price objective on shares of PTC in a research note on Tuesday, November 14th. Finally, Bank of America began coverage on shares of PTC in a research note on Monday, November 6th. They issued an underperform rating and a $60.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. PTC presently has an average rating of Buy and a consensus price target of $66.31.
PTC (PTC) traded down $0.64 during trading on Wednesday, hitting $65.29. 1,203,800 shares of the company were exchanged, compared to its average volume of 810,730. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.80. PTC has a 52 week low of $46.87 and a 52 week high of $67.12. The firm has a market cap of $7,620.00, a P/E ratio of 1,632.25 and a beta of 1.34.
PTC (NASDAQ:PTC) last released its earnings results on Wednesday, January 17th. The technology company reported $0.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.01. PTC had a net margin of 0.54% and a return on equity of 8.08%. The company had revenue of $306.44 million for the quarter, compared to the consensus estimate of $300.17 million. During the same quarter in the previous year, the company earned $0.26 EPS. PTC’s quarterly revenue was up 7.0% compared to the same quarter last year. analysts anticipate that PTC will post 0.81 earnings per share for the current fiscal year.
PTC declared that its board has initiated a share buyback plan on Tuesday, September 19th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 7.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
In other PTC news, Director Robert Schechter sold 1,128 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $66.88, for a total transaction of $75,440.64. Following the transaction, the director now owns 64,826 shares in the company, valued at $4,335,562.88. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Staats Aaron C. Von sold 9,947 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $64.67, for a total transaction of $643,272.49. The disclosure for this sale can be found here. Insiders have sold a total of 55,924 shares of company stock worth $3,627,304 in the last quarter. 1.02% of the stock is owned by corporate insiders.
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PTC Company Profile
PTC Inc is a global computer software and services company. The Company offers a portfolio of computer-aided design (CAD) modeling, product lifecycle management (PLM) and service lifecycle management (SLM) solutions for manufacturers to create, operate, and service products. It offers a suite of Internet of Things (IoT) solutions that enables its customers to connect, manage and analyze data, and create applications.
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