PTC (PTC) Updates Q3 Earnings Guidance

PTC (NASDAQ:PTC) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.31-0.36 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.40. The company issued revenue guidance of $302-325 million, compared to the consensus revenue estimate of $331.51 million.PTC also updated its FY 2019 guidance to $1.45-1.70 EPS.

NASDAQ PTC traded up $1.07 during trading hours on Wednesday, reaching $101.89. 1,468,697 shares of the company’s stock were exchanged, compared to its average volume of 1,139,577. PTC has a one year low of $76.67 and a one year high of $107.44. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a market cap of $12.09 billion, a price-to-earnings ratio of 113.21, a PEG ratio of 2.60 and a beta of 1.25.

PTC (NASDAQ:PTC) last posted its earnings results on Wednesday, April 24th. The technology company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. PTC had a return on equity of 12.70% and a net margin of 4.65%. The business had revenue of $315.50 million during the quarter, compared to analysts’ expectations of $312.29 million. During the same period in the prior year, the business earned $0.34 EPS. PTC’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, analysts predict that PTC will post 1.07 EPS for the current year.

PTC has been the subject of a number of research reports. KeyCorp initiated coverage on PTC in a research note on Wednesday, April 10th. They set an overweight rating and a $111.00 target price for the company. BidaskClub raised PTC from a hold rating to a buy rating in a research note on Thursday, February 14th. Mitsubishi UFJ Financial Group lowered their target price on PTC from $80.00 to $78.00 and set a neutral rating for the company in a research note on Thursday, January 24th. Deutsche Bank initiated coverage on PTC in a research note on Wednesday, January 16th. They set a buy rating and a $115.00 target price for the company. Finally, Zacks Investment Research raised PTC from a hold rating to a buy rating and set a $97.00 target price for the company in a research note on Friday, February 8th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $106.50.

In other news, insider James E. Heppelmann sold 85,740 shares of the firm’s stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $84.86, for a total transaction of $7,275,896.40. Following the completion of the transaction, the insider now directly owns 679,391 shares of the company’s stock, valued at approximately $57,653,120.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kathleen Mitford sold 815 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $91.47, for a total value of $74,548.05. Following the completion of the sale, the executive vice president now directly owns 14,271 shares of the company’s stock, valued at approximately $1,305,368.37. The disclosure for this sale can be found here. Insiders have sold a total of 138,877 shares of company stock valued at $12,228,416 over the last ninety days. Company insiders own 9.91% of the company’s stock.

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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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Earnings History and Estimates for PTC (NASDAQ:PTC)

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