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 (EPS) guidance of 0.050- for the period, compared to the consensus 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.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Roth Mkm reissued a “buy” rating and issued a $29.00 target price on shares of American Superconductor in a research report on Monday, September 30th. Craig Hallum reiterated a “buy” rating and issued a $33.00 price objective on shares of American Superconductor in a research note on Tuesday, September 10th.

American Superconductor Stock Up 16.4 %

American Superconductor stock 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. American Superconductor has a fifty-two week low of $6.73 and a fifty-two week high of $32.70. The company has a market cap of $1.13 billion, a P/E ratio of -570.69 and a beta of 2.14. The business has a 50-day simple moving average of $22.39 and a 200-day simple moving average of $21.04.

American Superconductor (NASDAQ:AMSC) last issued its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.05 earnings per share (EPS) for the quarter, topping 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 positive return on equity of 9.38% and a negative net margin of 0.49%. As a group, equities analysts forecast that American Superconductor will post 0.18 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.