Brokerages Expect PTC Inc (PTC) Will Post Quarterly Sales of $324.74 Million

Equities analysts expect PTC Inc (NASDAQ:PTC) to report sales of $324.74 million for the current quarter, according to Zacks. Eight analysts have issued estimates for PTC’s earnings, with the highest sales estimate coming in at $335.63 million and the lowest estimate coming in at $321.75 million. PTC posted sales of $306.64 million in the same quarter last year, which indicates a positive year over year growth rate of 5.9%. The company is scheduled to announce its next earnings report after the market closes on Wednesday, January 23rd.

According to Zacks, analysts expect that PTC will report full-year sales of $1.34 billion for the current fiscal year, with estimates ranging from $1.33 billion to $1.37 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $1.52 billion, with estimates ranging from $1.48 billion to $1.57 billion. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for PTC.

PTC (NASDAQ:PTC) last issued its quarterly earnings results on Wednesday, October 24th. The technology company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The firm had revenue of $312.52 million during the quarter, compared to the consensus estimate of $322.00 million. PTC had a net margin of 4.19% and a return on equity of 11.97%. The business’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 EPS.

A number of equities analysts recently weighed in on PTC shares. Deutsche Bank started coverage on shares of PTC in a report on Wednesday, January 16th. They set a “buy” rating and a $115.00 target price on the stock. BidaskClub raised PTC from a “hold” rating to a “buy” rating in a research note on Saturday, January 12th. Stifel Nicolaus began coverage on PTC in a research note on Tuesday, December 18th. They issued a “buy” rating and a $105.00 price objective on the stock. Cowen set a $105.00 price objective on PTC and gave the stock a “buy” rating in a research note on Sunday, October 28th. Finally, JPMorgan Chase & Co. reduced their price objective on PTC to $96.00 in a research note on Friday, October 26th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $102.31.

In other news, insider James E. Heppelmann sold 15,000 shares of the company’s stock in a transaction on Friday, November 16th. The stock was sold at an average price of $87.97, for a total transaction of $1,319,550.00. Following the completion of the sale, the insider now directly owns 718,898 shares in the company, valued at approximately $63,241,457.06. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Staats Aaron C. Von sold 11,907 shares of the company’s stock in a transaction on Friday, November 16th. The stock was sold at an average price of $87.62, for a total value of $1,043,291.34. Following the sale, the executive vice president now owns 23,981 shares of the company’s stock, valued at $2,101,215.22. The disclosure for this sale can be found here. Insiders sold a total of 147,981 shares of company stock worth $12,750,193 in the last 90 days. 1.19% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in PTC. Verition Fund Management LLC acquired a new position in shares of PTC in the third quarter valued at approximately $1,510,000. Wells Fargo & Company MN boosted its position in shares of PTC by 13.6% during the third quarter. Wells Fargo & Company MN now owns 231,287 shares of the technology company’s stock valued at $24,561,000 after buying an additional 27,689 shares during the last quarter. Aviva PLC purchased a new stake in shares of PTC during the third quarter valued at $5,931,000. Teachers Retirement System of The State of Kentucky boosted its position in shares of PTC by 21.8% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 59,088 shares of the technology company’s stock valued at $6,275,000 after buying an additional 10,589 shares during the last quarter. Finally, Private Advisor Group LLC purchased a new stake in shares of PTC during the third quarter valued at $202,000. Institutional investors and hedge funds own 91.49% of the company’s stock.

Shares of NASDAQ PTC traded down $1.42 during midday trading on Friday, reaching $86.26. The company’s stock had a trading volume of 67,021 shares, compared to its average volume of 858,292. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.74. PTC has a fifty-two week low of $65.48 and a fifty-two week high of $107.44. The company has a market capitalization of $10.41 billion, a PE ratio of 95.88, a price-to-earnings-growth ratio of 2.56 and a beta of 1.34.

PTC Company Profile

PTC Inc operates as software and services company in Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx, an industrial innovation platform to develop and deploy industrial Internet of Things applications; and KEPServerEX solution to provide communications connectivity for industrial automation environments to connect, manage, monitor, and control disparate devices and software applications.

Featured Article: How does the Federal Reserve determine interest rates?

Get a free copy of the Zacks research report on PTC (PTC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for PTC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PTC and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply