Advanced Energy Industries (NASDAQ:AEIS) Announces Earnings Results, Beats Estimates By $0.14 EPS

Advanced Energy Industries (NASDAQ:AEIS) released its earnings results on Tuesday. The electronics maker reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.14, Briefing.com reports. The firm had revenue of $364.95 million during the quarter, compared to analyst estimates of $350.06 million. Advanced Energy Industries had a return on equity of 10.51% and a net margin of 6.00%. Advanced Energy Industries’s revenue was down 12.2% compared to the same quarter last year. During the same period last year, the business posted $0.95 earnings per share. Advanced Energy Industries updated its Q3 guidance to $0.65-1.15 EPS and its Q3 2024 guidance to 0.650-1.150 EPS.

Advanced Energy Industries Price Performance

Shares of NASDAQ:AEIS opened at $107.64 on Friday. The business’s 50 day simple moving average is $109.17 and its 200-day simple moving average is $103.65. The firm has a market capitalization of $4.05 billion, a price-to-earnings ratio of 39.57, a price-to-earnings-growth ratio of 5.69 and a beta of 1.52. The company has a debt-to-equity ratio of 0.78, a current ratio of 5.61 and a quick ratio of 4.40. Advanced Energy Industries has a 12 month low of $81.86 and a 12 month high of $125.31.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. TD Cowen lifted their target price on Advanced Energy Industries from $100.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday. Benchmark reaffirmed a “buy” rating and set a $117.00 price target on shares of Advanced Energy Industries in a report on Wednesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Advanced Energy Industries in a report on Wednesday. Susquehanna lifted their price target on Advanced Energy Industries from $90.00 to $103.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Citigroup downgraded Advanced Energy Industries from a “buy” rating to a “neutral” rating and set a $113.00 price target for the company. in a report on Monday, July 15th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $110.14.

About Advanced Energy Industries

Advanced Energy Industries, Inc provides precision power conversion, measurement, and control solutions in the United States and internationally. The company's plasma power products offer solutions to enable innovation for semiconductor and thin film plasma processes, such as dry etch and deposition.