TTM Tech (TTMI) Updates Q4 Earnings Guidance
TTM Tech (TTMI) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided EPS guidance of at least $0.21 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.17. The company issued revenue guidance of at least $380 million, compared to the consensus revenue estimate of $366.61 million.
Shares of TTM Tech (TTMI) traded down 18.91% during mid-day trading on Tuesday, hitting $7.42. TTM Tech (TTMI) has a one year low of $8.30 and a one year high of $13.75. The stock’s 50-day moving average is currently $9.12. The company’s market cap is $607.9 million.
TTM Tech last posted its quarterly earnings results on Thursday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.03. The company had revenue of $339.00 million for the quarter, compared to the consensus estimate of $347.03 million. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. TTM Tech has set its Q4 guidance at $0.14-0.21 EPS. On average, analysts predict that TTM Tech (TTMI) will post $0.79 earnings per share for the current fiscal year.
TTMI has been the subject of a number of recent research reports. Analysts at Stifel Nicolaus downgraded shares of TTM Tech from a buy rating to a hold rating in a research note to investors on Tuesday. On a related note, analysts at JPMorgan Chase downgraded shares of TTM Tech from an overweight rating to a neutral rating in a research note to investors on Thursday, November 8th. Finally, analysts at Longbow Research downgraded shares of TTM Tech from a buy rating to a neutral rating in a research note to investors on Friday, October 26th.
Three equities research analysts have rated the stock with a buy rating, one has assigned an overweight rating, and three have given a hold rating to the company’s stock. The company presently has an average rating of overweight and an average price target of $12.00.
TTM Technologies, Inc. (TTM) is a one-stop provider of printed circuit boards (PCBs) and backplane assemblies, which serve as the foundation of electronic products.
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