Equities research analysts predict that TTM Technologies, Inc. (NASDAQ:TTMI) will report $625.86 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for TTM Technologies’ earnings, with the highest sales estimate coming in at $627.30 million and the lowest estimate coming in at $624.41 million. TTM Technologies posted sales of $601.85 million in the same quarter last year, which suggests a positive year over year growth rate of 4%. The business is scheduled to announce its next quarterly earnings results on Wednesday, July 26th.
According to Zacks, analysts expect that TTM Technologies will report full year sales of $625.86 million for the current year, with estimates ranging from $2.64 billion to $2.66 billion. For the next fiscal year, analysts expect that the firm will report sales of $2.76 billion per share, with estimates ranging from $2.73 billion to $2.78 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover TTM Technologies.
TTM Technologies (NASDAQ:TTMI) last announced its quarterly earnings results on Wednesday, May 3rd. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.13. TTM Technologies had a net margin of 2.92% and a return on equity of 18.17%. The firm had revenue of $625.20 million for the quarter, compared to the consensus estimate of $615 million. During the same period in the prior year, the firm posted $0.14 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year.
Several brokerages have issued reports on TTMI. TheStreet raised shares of TTM Technologies from a “c” rating to a “b-” rating in a research note on Wednesday, May 3rd. Zacks Investment Research raised shares of TTM Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, April 12th. Needham & Company LLC boosted their price objective on shares of TTM Technologies from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, June 9th. Finally, J P Morgan Chase & Co cut shares of TTM Technologies from an “overweight” rating to a “neutral” rating and set a $18.00 price objective on the stock. in a research note on Friday, February 17th. They noted that the move was a valuation call. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. TTM Technologies currently has an average rating of “Buy” and an average price target of $19.75.
Shares of TTM Technologies (NASDAQ TTMI) traded down 0.11% during mid-day trading on Friday, reaching $18.10. 1,585,338 shares of the company were exchanged. The stock has a market capitalization of $1.84 billion, a P/E ratio of 25.42 and a beta of 1.45. The stock has a 50 day moving average price of $16.76 and a 200-day moving average price of $15.65. TTM Technologies has a 12 month low of $6.93 and a 12 month high of $18.85.
In other TTM Technologies news, Director Kenton K. Alder sold 3,000 shares of the business’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $16.25, for a total value of $48,750.00. Following the transaction, the director now directly owns 42,492 shares of the company’s stock, valued at approximately $690,495. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 9,000 shares of company stock worth $149,670 over the last three months. 28.40% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. bought a new stake in shares of TTM Technologies during the first quarter valued at approximately $101,000. Oberweis Asset Management Inc. bought a new stake in shares of TTM Technologies during the fourth quarter valued at approximately $138,000. State of Alaska Department of Revenue raised its stake in shares of TTM Technologies by 1.5% in the first quarter. State of Alaska Department of Revenue now owns 9,310 shares of the technology company’s stock valued at $150,000 after buying an additional 140 shares during the last quarter. Eqis Capital Management Inc. bought a new stake in shares of TTM Technologies during the first quarter valued at approximately $167,000. Finally, ARP Americas LLC bought a new stake in shares of TTM Technologies during the fourth quarter valued at approximately $171,000. 95.16% of the stock is currently owned by institutional investors.
About TTM Technologies
TTM Technologies, Inc is a manufacturer of printed circuit board (PCB) products and is focused on technologically advanced PCBs and electro-mechanical solutions (E-M Solutions). As of January 2, 2017, the Company operated a total of 25 specialized facilities in North America and China. The Company’s segments include PCB, E-M Solutions and Corporate.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This story was originally published by WKRB News (https://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://www.wkrb13.com/markets/2231127/625-86-million-in-sales-expected-for-ttm-technologies-inc-ttmi-this-quarter.html
Receive News & Ratings for TTM Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TTM Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.