American Superconductor (NASDAQ:AMSC) Releases Q3 Earnings Guidance

American Superconductor (NASDAQ:AMSC) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.05 for the period, compared to the consensus EPS estimate of $0.07. The company issued revenue guidance of $55-60 million, compared to the consensus revenue estimate of $56.03 million. American Superconductor also updated its Q3 2024 guidance to 0.050- EPS.

American Superconductor Trading Up 16.4 %

AMSC stock traded up $4.02 during trading hours on Friday, hitting $28.54. 2,745,563 shares of the stock were exchanged, compared to its average volume of 997,881. American Superconductor has a 12 month low of $6.73 and a 12 month high of $32.70. The firm has a market capitalization of $1.13 billion, a P/E ratio of -570.69 and a beta of 2.14. The company has a 50-day simple moving average of $22.39 and a two-hundred day simple moving average of $21.04.

American Superconductor (NASDAQ:AMSC) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.09. The business had revenue of $40.29 million for the quarter, compared to analyst estimates of $39.55 million. American Superconductor had a negative net margin of 0.49% and a positive return on equity of 9.38%. On average, equities research analysts predict that American Superconductor will post 0.18 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Roth Mkm reissued a “buy” rating and set a $29.00 price target on shares of American Superconductor in a research report on Monday, September 30th. Craig Hallum reiterated a “buy” rating and set a $33.00 target price on shares of American Superconductor in a research report on Tuesday, September 10th.

About American Superconductor

American Superconductor Corporation, together with its subsidiaries, provides megawatt-scale power resiliency solutions worldwide. The company operates through Grid and Wind segments. The Grid segment offers products and services that enable electric utilities, industrial facilities, and renewable energy project developers to connect, transmit, and distribute power under the Gridtec Solutions brand.