American Superconductor (NASDAQ:AMSC) Updates Q3 Earnings Guidance

American Superconductor (NASDAQ:AMSC) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.05 for the period, compared to the consensus earnings per share 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 traded up $4.02 during midday trading on Friday, reaching $28.54. The company’s stock had a trading volume of 2,745,563 shares, compared to its average volume of 997,881. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -570.69 and a beta of 2.14. American Superconductor has a 1 year low of $6.73 and a 1 year high of $32.70. The stock’s 50-day moving average is $22.39 and its 200-day moving average is $21.04.

American Superconductor (NASDAQ:AMSC) last announced its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.05 earnings per share 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 analysts’ expectations of $39.55 million. American Superconductor had a negative net margin of 0.49% and a positive return on equity of 9.38%. As a group, equities research analysts forecast that American Superconductor will post 0.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.