The PTC Inc. (PTC) Issues FY17 Earnings Guidance

The PTC Inc. (PTC) Issues FY17 Earnings Guidance

PTC Inc. (NASDAQ:PTC) issued an update on its FY17 earnings guidance on Wednesday morning. The company provided EPS guidance of $1.27-1.37 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.20. The company issued revenue guidance of $1.225-1.24 billion, compared to the consensus revenue estimate of $1.17 billion.PTC also updated its Q1 guidance to $0.28-0.32 EPS.

PTC Inc. (NASDAQ:PTC) traded down 1.64% during mid-day trading on Wednesday, reaching $60.09. 2,246,288 shares of the company’s stock were exchanged. PTC Inc. has a 1-year low of $43.12 and a 1-year high of $61.65. The firm’s 50-day moving average is $57.53 and its 200 day moving average is $55.88. The stock’s market capitalization is $6.95 billion.

PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, October 25th. The technology company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.02). PTC had a negative net margin of 3.46% and a positive return on equity of 6.69%. The business had revenue of $306.38 million during the quarter, compared to analysts’ expectations of $306.59 million. During the same period last year, the company earned $0.20 EPS. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. Analysts forecast that PTC Inc. will post $1.20 earnings per share for the current fiscal year.

PTC announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, September 19th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 7.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Several analysts have issued reports on PTC shares. Goldman Sachs Group, Inc. (The) started coverage on shares of PTC in a report on Monday, July 17th. They issued a neutral rating and a $62.00 price target on the stock. J P Morgan Chase & Co reaffirmed an overweight rating and issued a $68.00 price target on shares of PTC in a report on Thursday, July 20th. Barclays PLC reaffirmed an overweight rating and issued a $65.00 price target (down previously from $67.00) on shares of PTC in a report on Saturday, July 22nd. BidaskClub downgraded shares of PTC from a hold rating to a sell rating in a report on Friday, July 28th. Finally, Berenberg Bank started coverage on shares of PTC in a report on Wednesday, August 23rd. They issued a buy rating and a $66.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $63.31.

In related news, insider James E. Heppelmann sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $55.27, for a total transaction of $1,381,750.00. Following the completion of the transaction, the insider now owns 561,022 shares of the company’s stock, valued at $31,007,685.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Donald K. Grierson sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $53.77, for a total transaction of $268,850.00. Following the transaction, the director now directly owns 62,300 shares of the company’s stock, valued at approximately $3,349,871. The disclosure for this sale can be found here. Insiders have sold 35,750 shares of company stock worth $1,968,345 in the last three months. Insiders own 1.02% of the company’s stock.

PTC Company Profile

PTC Inc is a global computer software and services company. The Company offers a portfolio of computer-aided design (CAD) modeling, product lifecycle management (PLM) and service lifecycle management (SLM) solutions for manufacturers to create, operate, and service products. It offers a suite of Internet of Things (IoT) solutions that enables its customers to connect, manage and analyze data, and create applications.

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