PTC Inc (NASDAQ:PTC) Expected to Post Quarterly Sales of $323.65 Million

Equities research analysts forecast that PTC Inc (NASDAQ:PTC) will post $323.65 million in sales for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for PTC’s earnings, with estimates ranging from $319.00 million to $334.00 million. PTC reported sales of $314.78 million during the same quarter last year, which indicates a positive year-over-year growth rate of 2.8%. The firm is expected to report its next quarterly earnings report after the market closes on Wednesday, July 24th.

According to Zacks, analysts expect that PTC will report full-year sales of $1.31 billion for the current financial year. For the next financial year, analysts expect that the company will report sales of $1.48 billion, with estimates ranging from $1.43 billion to $1.53 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow PTC.

PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.18. The firm had revenue of $322.40 million during the quarter, compared to analysts’ expectations of $322.42 million. PTC had a net margin of 3.06% and a return on equity of 11.68%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.36 EPS.

A number of brokerages have issued reports on PTC. TheStreet upgraded shares of Viacom from a “c+” rating to a “b-” rating in a research note on Wednesday, April 24th. BidaskClub raised shares of Xilinx from a “hold” rating to a “buy” rating in a report on Wednesday. Wedbush dropped their price objective on shares of PTC from $100.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday. KeyCorp upped their price objective on shares of Ingersoll-Rand from $112.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, April 10th. Finally, ValuEngine downgraded shares of China Southern Airlines from a “hold” rating to a “sell” rating in a report on Monday, April 29th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $95.13.

PTC stock traded up $0.46 during trading hours on Friday, hitting $73.36. The company had a trading volume of 1,993,387 shares, compared to its average volume of 1,178,365. The company has a market cap of $10.54 billion, a price-to-earnings ratio of 81.51, a P/E/G ratio of 2.70 and a beta of 1.19. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.32. PTC has a 1 year low of $72.56 and a 1 year high of $107.44. The business’s 50-day simple moving average is $88.56.

In other PTC news, EVP Matthew Lessner Cohen sold 10,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $90.00, for a total value of $900,000.00. Following the completion of the sale, the executive vice president now owns 25,672 shares of the company’s stock, valued at $2,310,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James E. Heppelmann sold 15,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $89.02, for a total transaction of $1,335,300.00. The disclosure for this sale can be found here. Insiders sold 25,700 shares of company stock valued at $2,295,738 over the last quarter. Company insiders own 9.91% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in PTC. Arlington Partners LLC acquired a new stake in PTC in the second quarter worth $64,000. Machina Capital S.A.S. increased its holdings in shares of PTC by 17,775.0% during the second quarter. Machina Capital S.A.S. now owns 715 shares of the technology company’s stock valued at $64,000 after purchasing an additional 711 shares during the period. First Manhattan Co. acquired a new position in shares of PTC during the first quarter valued at $92,000. Manchester Capital Management LLC acquired a new position in shares of PTC during the first quarter valued at $115,000. Finally, Pearl River Capital LLC increased its holdings in shares of PTC by 201.7% during the first quarter. Pearl River Capital LLC now owns 2,112 shares of the technology company’s stock valued at $194,000 after purchasing an additional 1,412 shares during the period. Institutional investors own 92.46% of the company’s stock.

About PTC

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.

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