American Superconductor (NASDAQ:AMSC) Updates 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 guidance of 0.050- for the period, compared to the consensus earnings per share 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

Shares of NASDAQ:AMSC traded up $4.02 during midday trading on Friday, hitting $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 has a market cap of $1.13 billion, a P/E 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 business’s 50 day simple moving average is $22.39 and its 200 day simple moving average is $21.04.

American Superconductor (NASDAQ:AMSC) last issued its earnings results on Tuesday, August 6th. The technology company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.09. American Superconductor had a positive return on equity of 9.38% and a negative net margin of 0.49%. The business had revenue of $40.29 million for the quarter, compared to analysts’ expectations of $39.55 million. On average, sell-side analysts predict that American Superconductor will post 0.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on AMSC shares. Craig Hallum reaffirmed a “buy” rating and set a $33.00 target price on shares of American Superconductor in a research note on Tuesday, September 10th. Roth Mkm reaffirmed a “buy” rating and set a $29.00 price target on shares of American Superconductor in a research report on Monday, September 30th.

About American Superconductor

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.