IPG Photonics (NASDAQ:IPGP) Releases Q3 2024 Earnings Guidance

IPG Photonics (NASDAQ:IPGP) issued an update on its third quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 0.000-0.300 for the period, compared to the consensus estimate of 0.780. The company issued revenue guidance of $210.0 million-$240.0 million, compared to the consensus revenue estimate of $282.3 million. IPG Photonics also updated its Q3 guidance to $0.00-0.30 EPS.

IPG Photonics Stock Down 2.7 %

IPG Photonics stock traded down $2.07 during midday trading on Friday, hitting $75.01. 7,154 shares of the stock were exchanged, compared to its average volume of 266,077. IPG Photonics has a 52-week low of $74.39 and a 52-week high of $111.53. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of 19.87 and a beta of 1.01. The business’s 50-day moving average price is $85.41 and its 200-day moving average price is $88.67.

IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). IPG Photonics had a net margin of 12.67% and a return on equity of 5.99%. The firm had revenue of $257.60 million for the quarter, compared to analysts’ expectations of $259.31 million. During the same period in the prior year, the company earned $1.31 EPS. The firm’s quarterly revenue was down 24.2% on a year-over-year basis. On average, sell-side analysts predict that IPG Photonics will post 2.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

IPGP has been the subject of a number of analyst reports. Stifel Nicolaus cut their price target on IPG Photonics from $115.00 to $100.00 and set a buy rating for the company in a report on Wednesday. Benchmark downgraded IPG Photonics from a buy rating to a hold rating in a research report on Wednesday. Citigroup dropped their target price on shares of IPG Photonics from $74.00 to $68.00 and set a sell rating for the company in a research report on Thursday, May 2nd. Needham & Company LLC reiterated a hold rating on shares of IPG Photonics in a research report on Wednesday, May 1st. Finally, Raymond James lowered their price objective on shares of IPG Photonics from $127.00 to $100.00 and set a strong-buy rating for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, IPG Photonics currently has a consensus rating of Hold and an average price target of $93.40.

Insider Activity

In other IPG Photonics news, Director Jeanmarie F. Desmond sold 985 shares of IPG Photonics stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $85.20, for a total transaction of $83,922.00. Following the sale, the director now directly owns 4,319 shares of the company’s stock, valued at approximately $367,978.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 38.00% of the company’s stock.

IPG Photonics Company Profile

IPG Photonics Corporation develops, manufactures, and sells various high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. Its laser products include hybrid fiber-solid state lasers with green and ultraviolet wavelengths; fiber pigtailed packaged diodes and fiber coupled direct diode laser systems; high-energy pulsed lasers, multi-wavelength and tunable lasers, and single-polarization and single-frequency lasers; and high-power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.