Novanta (NASDAQ:NOVT) announced its quarterly earnings results on Wednesday. The technology company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03, Bloomberg Earnings reports. The firm had revenue of $146.92 million during the quarter, compared to analysts’ expectations of $146.35 million. Novanta had a net margin of 12.45% and a return on equity of 18.29%. The company’s revenue for the quarter was up 48.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.35 earnings per share. Novanta updated its Q1 guidance to $0.40-0.43 EPS and its FY18 guidance to $1.85-1.96 EPS.
Novanta (NASDAQ NOVT) traded down $0.20 during trading hours on Wednesday, hitting $54.40. 271,100 shares of the stock were exchanged, compared to its average volume of 242,067. Novanta has a 52 week low of $23.75 and a 52 week high of $60.30. The company has a quick ratio of 2.00, a current ratio of 2.93 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $1,888.73, a PE ratio of 40.00 and a beta of 1.33.
A number of brokerages have commented on NOVT. William Blair began coverage on shares of Novanta in a research note on Tuesday. They set an “outperform” rating for the company. BidaskClub upgraded shares of Novanta from a “hold” rating to a “buy” rating in a research note on Thursday, February 22nd. Finally, Robert W. Baird began coverage on shares of Novanta in a research note on Thursday, December 7th. They set an “outperform” rating and a $54.00 price target for the company.
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Novanta Inc, formerly GSI Group Inc, designs, develops, manufactures and sells precision photonic and motion control components and subsystems. The Company’s segments are Photonics, Vision and Precision Motion. The Photonics segment designs, manufactures and markets photonics-based solutions, including carbon dioxide (CO2) laser sources, laser scanning and laser beam delivery products, to customers around the world.
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