American Superconductor Co. (NASDAQ:AMSC) Expected to Announce Quarterly Sales of $13.35 Million

Wall Street brokerages forecast that American Superconductor Co. (NASDAQ:AMSC) will report $13.35 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for American Superconductor’s earnings, with the highest sales estimate coming in at $13.60 million and the lowest estimate coming in at $13.10 million. American Superconductor reported sales of $14.88 million during the same quarter last year, which would suggest a negative year over year growth rate of 10.3%. The company is expected to announce its next quarterly earnings results on Tuesday, November 5th.

On average, analysts expect that American Superconductor will report full-year sales of $59.30 million for the current fiscal year, with estimates ranging from $58.30 million to $60.30 million. For the next year, analysts expect that the business will post sales of $80.40 million, with estimates ranging from $72.90 million to $87.90 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow American Superconductor.

American Superconductor (NASDAQ:AMSC) last released its quarterly earnings data on Tuesday, August 6th. The technology company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.04. American Superconductor had a negative return on equity of 22.93% and a net margin of 48.74%. The company had revenue of $13.77 million for the quarter, compared to the consensus estimate of $10.95 million. During the same period last year, the business posted ($0.18) EPS.

A number of research analysts have recently issued reports on AMSC shares. ValuEngine downgraded American Superconductor from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Zacks Investment Research downgraded American Superconductor from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $14.20.

Shares of NASDAQ:AMSC traded down $0.06 on Friday, reaching $8.19. The company had a trading volume of 88,198 shares, compared to its average volume of 294,617. American Superconductor has a 52-week low of $5.78 and a 52-week high of $16.44. The firm’s 50 day simple moving average is $8.11 and its 200-day simple moving average is $9.50. The firm has a market capitalization of $176.63 million, a PE ratio of -10.37 and a beta of 1.05. The company has a current ratio of 3.50, a quick ratio of 3.09 and a debt-to-equity ratio of 0.04.

Several large investors have recently made changes to their positions in AMSC. Marshall Wace LLP purchased a new position in shares of American Superconductor in the 1st quarter valued at $2,961,000. WINTON GROUP Ltd acquired a new stake in shares of American Superconductor in the 2nd quarter worth $175,000. Chicago Equity Partners LLC acquired a new stake in shares of American Superconductor in the 2nd quarter worth $218,000. Stone Ridge Asset Management LLC acquired a new stake in shares of American Superconductor in the 2nd quarter worth $206,000. Finally, JPMorgan Chase & Co. boosted its position in shares of American Superconductor by 1,087.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,769 shares of the technology company’s stock worth $51,000 after purchasing an additional 5,283 shares in the last quarter. Institutional investors and hedge funds own 45.79% of the company’s stock.

About American Superconductor

American Superconductor Corporation provides megawatt-scale solutions worldwide. The company operates in two segments, Wind and Grid. The Wind segment designs wind turbine systems and licenses these designs to third parties under the Windtec Solutions brand. It supplies power electronics and software-based control systems, and provides customer support services to wind turbine manufacturers.

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