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 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.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AMSC shares. Craig Hallum reaffirmed a “buy” rating and issued a $33.00 price objective on shares of American Superconductor in a research note on Tuesday, September 10th. Roth Mkm reaffirmed a “buy” rating and issued a $29.00 price objective on shares of American Superconductor in a research note on Monday, September 30th.

American Superconductor Trading Up 16.4 %

NASDAQ:AMSC traded up $4.02 on Friday, reaching $28.54. 2,745,563 shares of the stock traded hands, 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. The company’s 50 day moving average is $22.39 and its 200-day moving average is $21.04. American Superconductor has a 1-year low of $6.73 and a 1-year high of $32.70.

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

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.