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

American Superconductor (NASDAQ:AMSC) updated its third quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of 0.050- for the period, compared to the consensus EPS 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 Ratings Changes

Several brokerages have recently issued reports on AMSC. Roth Mkm restated a “buy” rating and set a $29.00 target price on shares of American Superconductor in a research report on Monday, September 30th. Craig Hallum reaffirmed 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 Performance

NASDAQ AMSC traded up $4.02 on Friday, reaching $28.54. 2,745,563 shares of the stock traded hands, compared to its average volume of 997,881. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -570.69 and a beta of 2.14. American Superconductor has a 12 month low of $6.73 and a 12 month high of $32.70. The company has a fifty day moving average price of $22.39 and a 200-day moving average price of $21.04.

American Superconductor (NASDAQ:AMSC) last issued its earnings results 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. American Superconductor had a negative net margin of 0.49% and a positive return on equity of 9.38%. The company had revenue of $40.29 million for the quarter, compared to analysts’ expectations of $39.55 million. As a group, research analysts anticipate that American Superconductor will post 0.18 earnings per share for the current fiscal 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.