Zacks: Analysts Expect Cadence Design Systems Inc (CDNS) to Post $0.38 EPS

Equities research analysts predict that Cadence Design Systems Inc (NASDAQ:CDNS) will post $0.38 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Cadence Design Systems’ earnings, with the highest EPS estimate coming in at $0.38 and the lowest estimate coming in at $0.37. Cadence Design Systems reported earnings per share of $0.32 in the same quarter last year, which indicates a positive year over year growth rate of 18.8%. The company is expected to issue its next earnings report on Monday, April 23rd.

On average, analysts expect that Cadence Design Systems will report full-year earnings of $1.57 per share for the current financial year, with EPS estimates ranging from $1.55 to $1.58. For the next financial year, analysts anticipate that the firm will post earnings of $1.71 per share, with EPS estimates ranging from $1.65 to $1.77. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Cadence Design Systems.

How to Become a New Pot Stock Millionaire

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Wednesday, January 31st. The software maker reported $0.39 EPS for the quarter, hitting analysts’ consensus estimates of $0.39. The firm had revenue of $501.70 million for the quarter, compared to the consensus estimate of $496.20 million. Cadence Design Systems had a net margin of 10.50% and a return on equity of 31.28%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.34 earnings per share.

Several brokerages have issued reports on CDNS. DA Davidson raised shares of Cadence Design Systems from a “neutral” rating to a “buy” rating in a report on Thursday. Zacks Investment Research raised shares of Cadence Design Systems from a “strong sell” rating to a “hold” rating in a report on Tuesday. BidaskClub downgraded shares of Cadence Design Systems from a “sell” rating to a “strong sell” rating in a report on Tuesday, March 13th. ValuEngine raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, Credit Suisse Group reissued a “neutral” rating and issued a $43.00 price objective (up previously from $37.00) on shares of Cadence Design Systems in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $44.20.

In other Cadence Design Systems news, Director John B. Shoven sold 50,000 shares of the stock in a transaction on Monday, January 8th. The shares were sold at an average price of $45.00, for a total transaction of $2,250,000.00. Following the sale, the director now directly owns 196,189 shares of the company’s stock, valued at $8,828,505. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Anirudh Devgan sold 44,526 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $45.01, for a total transaction of $2,004,115.26. Following the sale, the president now directly owns 377,019 shares in the company, valued at $16,969,625.19. The disclosure for this sale can be found here. Insiders have sold 162,110 shares of company stock worth $7,016,878 over the last three months. 2.55% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Cadence Design Systems by 15.4% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 41,301 shares of the software maker’s stock worth $1,630,000 after acquiring an additional 5,500 shares during the period. Barings LLC increased its holdings in shares of Cadence Design Systems by 88.6% in the 4th quarter. Barings LLC now owns 79,400 shares of the software maker’s stock worth $3,321,000 after acquiring an additional 37,300 shares during the period. QUANTRES ASSET MANAGEMENT Ltd acquired a new stake in shares of Cadence Design Systems in the 4th quarter worth about $611,000. Camelot Portfolios LLC increased its holdings in shares of Cadence Design Systems by 21.3% in the 4th quarter. Camelot Portfolios LLC now owns 11,402 shares of the software maker’s stock worth $477,000 after acquiring an additional 2,000 shares during the period. Finally, BlackRock Inc. increased its holdings in shares of Cadence Design Systems by 3.5% in the 4th quarter. BlackRock Inc. now owns 19,696,293 shares of the software maker’s stock worth $823,698,000 after acquiring an additional 659,728 shares during the period. 86.73% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ CDNS opened at $36.98 on Tuesday. Cadence Design Systems has a 12-month low of $30.86 and a 12-month high of $46.00. The stock has a market capitalization of $10,389.09, a price-to-earnings ratio of 33.96, a price-to-earnings-growth ratio of 3.58 and a beta of 1.14. The company has a current ratio of 1.53, a quick ratio of 1.47 and a debt-to-equity ratio of 0.65.

COPYRIGHT VIOLATION WARNING: “Zacks: Analysts Expect Cadence Design Systems Inc (CDNS) to Post $0.38 EPS” was first posted by Ticker Report and is owned by of Ticker Report. If you are accessing this news story on another site, it was illegally copied and republished in violation of U.S. & international copyright & trademark legislation. The correct version of this news story can be read at https://www.tickerreport.com/banking-finance/3334866/zacks-analysts-expect-cadence-design-systems-inc-cdns-to-post-0-38-eps.html.

About Cadence Design Systems

Cadence Design Systems, Inc provides solutions that enable its customers to design electronic products. The Company’s product categories include Functional Verification, Digital integrated circuits (IC) Design and Signoff, Custom IC Design and Verification, System Interconnect and Analysis, and intellectual property (IP).

Get a free copy of the Zacks research report on Cadence Design Systems (CDNS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Cadence Design Systems (NASDAQ:CDNS)

Receive News & Ratings for Cadence Design Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cadence Design Systems and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Sojourn Reaches Market Capitalization of $44,783.00
Sojourn Reaches Market Capitalization of $44,783.00
Nework Hits 24-Hour Volume of $3.99 Million
Nework Hits 24-Hour Volume of $3.99 Million
Brokerages Anticipate FLIR Systems  to Post $0.43 EPS
Brokerages Anticipate FLIR Systems to Post $0.43 EPS
Strayer Education  Given Consensus Rating of “Buy” by Brokerages
Strayer Education Given Consensus Rating of “Buy” by Brokerages
Lionsgate  Given Average Rating of “Buy” by Analysts
Lionsgate Given Average Rating of “Buy” by Analysts
 Reaches Market Cap of $0.00
Reaches Market Cap of $0.00


© 2006-2018 Ticker Report. Google+.