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

American Superconductor (NASDAQ:AMSC) issued an update on its third quarter 2024 earnings guidance on Wednesday morning. 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.

American Superconductor Stock Performance

NASDAQ AMSC traded up $4.02 during trading hours 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. The company’s 50-day moving average is $22.39 and its two-hundred day moving average is $21.04. American Superconductor has a fifty-two week low of $6.73 and a fifty-two week high of $32.70. The stock has a market cap of $1.13 billion, a PE ratio of -570.69 and a beta of 2.14.

American Superconductor (NASDAQ:AMSC) last released its quarterly 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. American Superconductor had a negative net margin of 0.49% and a positive return on equity of 9.38%. The business had revenue of $40.29 million for the quarter, compared to analyst estimates of $39.55 million. Equities analysts expect that American Superconductor will post 0.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.