PTC (NASDAQ:PTC) Releases Quarterly Earnings Results, Beats Expectations By $0.18 EPS
PTC (NASDAQ:PTC) announced its quarterly earnings results on Wednesday. The technology company reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.18, MarketWatch Earnings reports. PTC had a return on equity of 17.29% and a net margin of 6.21%. The firm had revenue of $352.00 million for the quarter, compared to analysts’ expectations of $333.22 million. During the same period in the prior year, the business posted $0.36 earnings per share. The company’s revenue was up 9.3% on a year-over-year basis. PTC updated its FY 2020
After-Hours guidance to 2.28-2.35 EPS and its FY20 guidance to $2.28-$2.35 EPS.
Shares of PTC stock traded down $0.99 during trading hours on Friday, reaching $84.59. 20,709 shares of the company traded hands, compared to its average volume of 722,650. The firm has a 50-day moving average price of $79.50 and a 200 day moving average price of $73.61. The company has a market cap of $9.75 billion, a P/E ratio of 112.37, a P/E/G ratio of 1.63 and a beta of 1.20. PTC has a 12-month low of $43.90 and a 12-month high of $89.07. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.13 and a quick ratio of 1.13.
Several equities research analysts have recently weighed in on the company. ValuEngine cut PTC from a “buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Stifel Nicolaus upgraded shares of PTC from a “hold” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $100.00 in a research report on Thursday, July 16th. Wedbush upped their price objective on shares of PTC from $70.00 to $78.00 in a research report on Thursday, June 11th. Griffin Securities upgraded shares of PTC from a “neutral” rating to a “buy” rating and set a $120.00 price objective on the stock in a research report on Thursday. Finally, Barclays upped their price objective on shares of PTC from $82.00 to $94.00 and gave the stock an “overweight” rating in a research report on Monday, July 20th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $99.18.
PTC Inc operates as software and services company in Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx, an industrial innovation platform to develop and deploy industrial Internet of Things applications; and KEPServerEX solution to provide communications connectivity for industrial automation environments to connect, manage, monitor, and control disparate devices and software applications.
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