American Superconductor (NASDAQ:AMSC) Releases Q3 2024 Earnings Guidance

American Superconductor (NASDAQ:AMSC) updated its third quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.050- for the period, compared to the consensus earnings per share estimate of 0.070. The company issued revenue guidance of $55.0 million-$60.0 million, compared to the consensus revenue estimate of $56.0 million. American Superconductor also updated its Q3 guidance to $0.05 EPS.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Roth Mkm restated 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 reissued a “buy” rating and issued a $33.00 price target on shares of American Superconductor in a report on Tuesday, September 10th.

American Superconductor Stock Performance

NASDAQ:AMSC traded down $0.60 during mid-day trading on Wednesday, reaching $23.48. The stock had a trading volume of 767,567 shares, compared to its average volume of 983,567. American Superconductor has a one year low of $6.08 and a one year high of $32.70. The firm has a 50 day moving average price of $22.09 and a two-hundred day moving average price of $20.88. The stock has a market capitalization of $868.71 million, a P/E ratio of -60.21 and a beta of 2.14.

American Superconductor (NASDAQ:AMSC) last released its earnings results on Tuesday, August 6th. The technology company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.09. The company 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 5.29% and a positive return on equity of 1.15%. Research analysts forecast that American Superconductor will post 0.17 earnings per share for the current year.

American Superconductor Company Profile

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.