Q3 2018 EPS Estimates for American Superconductor Corporation Increased by FBR & Co (AMSC)
American Superconductor Corporation (NASDAQ:AMSC) – Equities researchers at FBR & Co boosted their Q3 2018 EPS estimates for shares of American Superconductor Corporation in a note issued to investors on Wednesday. FBR & Co analyst C. Driscoll now expects that the technology company will post earnings of ($0.36) per share for the quarter, up from their previous forecast of ($0.37). FBR & Co has a “Hold” rating and a $6.00 price target on the stock. FBR & Co also issued estimates for American Superconductor Corporation’s Q4 2018 earnings at ($0.26) EPS, Q1 2019 earnings at ($0.36) EPS, Q2 2019 earnings at ($0.31) EPS, Q3 2019 earnings at ($0.23) EPS, Q4 2019 earnings at ($0.15) EPS and FY2019 earnings at ($1.02) EPS.
American Superconductor Corporation (NASDAQ:AMSC) last issued its earnings results on Tuesday, August 8th. The technology company reported ($0.97) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.06) by $0.09. The business had revenue of $8.92 million for the quarter, compared to analysts’ expectations of $8.46 million. American Superconductor Corporation had a negative return on equity of 54.39% and a negative net margin of 45.60%. The business’s revenue for the quarter was down 33.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.64) EPS.
A number of other research analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of American Superconductor Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday. Cowen and Company reissued a “buy” rating and set a $6.00 price objective (down from $7.50) on shares of American Superconductor Corporation in a research note on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $7.43.
American Superconductor Corporation (NASDAQ:AMSC) opened at 4.54 on Friday. The stock’s 50 day moving average price is $3.69 and its 200 day moving average price is $4.76. The firm’s market capitalization is $87.14 million. American Superconductor Corporation has a one year low of $2.89 and a one year high of $8.55.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Royce & Associates LP boosted its position in American Superconductor Corporation by 114.3% during the second quarter. Royce & Associates LP now owns 369,300 shares of the technology company’s stock worth $1,706,000 after acquiring an additional 197,000 shares during the last quarter. Bank of New York Mellon Corp boosted its position in American Superconductor Corporation by 2.0% during the first quarter. Bank of New York Mellon Corp now owns 83,720 shares of the technology company’s stock worth $575,000 after acquiring an additional 1,635 shares during the last quarter. PEAK6 Investments L.P. acquired a new stake in American Superconductor Corporation during the first quarter worth approximately $612,000. Prescott Group Capital Management L.L.C. acquired a new stake in American Superconductor Corporation during the second quarter worth approximately $1,120,000. Finally, Renaissance Technologies LLC boosted its position in American Superconductor Corporation by 7.9% during the first quarter. Renaissance Technologies LLC now owns 459,588 shares of the technology company’s stock worth $3,153,000 after acquiring an additional 33,700 shares during the last quarter. Hedge funds and other institutional investors own 35.19% of the company’s stock.
American Superconductor Corporation Company Profile
American Superconductor Corporation (AMSC) is a provider of megawatt-scale solutions. The Company operates through two segments: Wind and Grid. Through the Company’s Windtec Solutions brand, the Wind business segment enables manufacturers to field wind turbines. Through the Company’s Gridtec Solutions, the Grid business segment enables electric utilities and renewable energy project developers to connect, transmit and distribute power.
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