Azenta (NASDAQ:AZTA) Updates FY24 Earnings Guidance

Azenta (NASDAQ:AZTA) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.30-0.36 for the period, compared to the consensus earnings per share estimate of $0.29. The company issued revenue guidance of $652-658 million, compared to the consensus revenue estimate of $660.67 million.

Azenta Price Performance

NASDAQ:AZTA traded up $2.46 during trading hours on Tuesday, reaching $58.34. 663,744 shares of the company were exchanged, compared to its average volume of 465,986. The company has a market capitalization of $3.14 billion, a P/E ratio of -20.62 and a beta of 1.51. Azenta has a 1-year low of $44.00 and a 1-year high of $69.16. The business has a 50 day moving average of $54.59 and a 200 day moving average of $57.56.

Azenta (NASDAQ:AZTA) last issued its earnings results on Wednesday, May 8th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.02 by $0.03. The company had revenue of $159.13 million during the quarter, compared to the consensus estimate of $159.89 million. Azenta had a positive return on equity of 0.81% and a negative net margin of 23.12%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the business posted ($0.06) EPS. As a group, equities research analysts anticipate that Azenta will post 0.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AZTA. Needham & Company LLC cut their target price on Azenta from $75.00 to $69.00 and set a buy rating on the stock in a research note on Thursday, May 9th. Evercore ISI boosted their target price on Azenta from $52.00 to $53.00 and gave the stock an in-line rating in a research note on Tuesday, July 2nd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $67.00.

Azenta Company Profile

Azenta, Inc provides biological and chemical compound sample exploration and management solutions for the life sciences market in North America, Africa, China, the United Kingdom, rest of Europe, the Asia Pacific, and internationally. The company operates in two reportable segments, Life Sciences Products and Life Sciences Services.