$322.04 Million in Sales Expected for PTC Inc (NASDAQ:PTC) This Quarter

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Wall Street brokerages expect PTC Inc (NASDAQ:PTC) to report $322.04 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for PTC’s earnings. The lowest sales estimate is $321.10 million and the highest is $323.20 million. PTC reported sales of $314.78 million during the same quarter last year, which indicates a positive year over year growth rate of 2.3%. The business is expected to announce its next earnings report on Wednesday, July 17th.

According to Zacks, analysts expect that PTC will report full year sales of $1.32 billion for the current fiscal year. For the next fiscal year, analysts forecast that the business will report sales of $1.49 billion, with estimates ranging from $1.47 billion to $1.53 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover PTC.

PTC (NASDAQ:PTC) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.03. The firm had revenue of $315.50 million during the quarter, compared to analysts’ expectations of $312.29 million. PTC had a net margin of 3.06% and a return on equity of 11.68%. The business’s revenue was up 2.5% on a year-over-year basis. During the same period last year, the company earned $0.34 earnings per share.

A number of research analysts have recently issued reports on PTC shares. TheStreet upgraded shares of PTC from a “c+” rating to a “b-” rating in a report on Monday, February 25th. BidaskClub upgraded shares of PTC from a “hold” rating to a “buy” rating in a report on Thursday, February 14th. Evercore ISI reiterated a “buy” rating and set a $110.00 price objective on shares of PTC in a report on Monday, March 11th. Mizuho assumed coverage on shares of PTC in a report on Thursday, April 11th. They set a “buy” rating and a $120.00 price objective for the company. Finally, Deutsche Bank dropped their price target on shares of PTC from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. PTC has a consensus rating of “Buy” and a consensus target price of $103.50.

Shares of NASDAQ PTC traded down $0.85 during mid-day trading on Wednesday, reaching $87.47. 688,736 shares of the company’s stock traded hands, compared to its average volume of 1,155,785. The stock has a market capitalization of $10.11 billion, a P/E ratio of 97.19, a P/E/G ratio of 2.61 and a beta of 1.21. PTC has a 1-year low of $76.67 and a 1-year high of $107.44. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.32 and a quick ratio of 1.32.

In other PTC news, Director Corinna Lathan sold 2,260 shares of PTC stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $91.47, for a total value of $206,722.20. Following the sale, the director now owns 5,497 shares of the company’s stock, valued at $502,810.59. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider James E. Heppelmann sold 15,000 shares of PTC stock in a transaction dated Wednesday, May 1st. The stock was 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 have sold 19,025 shares of company stock worth $1,705,488 over the last three months. 9.91% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in PTC. Oregon Public Employees Retirement Fund raised its position in PTC by 8,190.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,497,800 shares of the technology company’s stock worth $42,000 after acquiring an additional 3,455,607 shares during the period. Norges Bank bought a new stake in PTC in the fourth quarter worth about $197,240,000. BlackRock Inc. raised its position in PTC by 9.3% in the first quarter. BlackRock Inc. now owns 12,536,242 shares of the technology company’s stock worth $1,155,590,000 after acquiring an additional 1,064,149 shares during the period. Morgan Stanley raised its position in PTC by 963.9% in the first quarter. Morgan Stanley now owns 910,560 shares of the technology company’s stock worth $83,936,000 after acquiring an additional 824,970 shares during the period. Finally, OZ Management LP raised its position in PTC by 23.2% in the first quarter. OZ Management LP now owns 2,586,970 shares of the technology company’s stock worth $238,467,000 after acquiring an additional 487,739 shares during the period. 92.61% of the stock is currently owned by institutional investors and hedge funds.

PTC Company Profile

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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Earnings History and Estimates for PTC (NASDAQ:PTC)

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