Brokerages Anticipate American Superconductor Co. (NASDAQ:AMSC) Will Post Quarterly Sales of $26.70 Million

Equities research analysts predict that American Superconductor Co. (NASDAQ:AMSC) will announce $26.70 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for American Superconductor’s earnings. The highest sales estimate is $26.80 million and the lowest is $26.60 million. American Superconductor posted sales of $23.63 million in the same quarter last year, which suggests a positive year-over-year growth rate of 13%. The business is expected to report its next quarterly earnings results on Wednesday, February 2nd.

On average, analysts expect that American Superconductor will report full year sales of $107.95 million for the current fiscal year, with estimates ranging from $107.40 million to $108.50 million. For the next fiscal year, analysts anticipate that the firm will report sales of $120.35 million, with estimates ranging from $116.70 million to $124.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow American Superconductor.

American Superconductor (NASDAQ:AMSC) last announced its quarterly earnings data on Monday, November 8th. The technology company reported ($0.19) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.03). American Superconductor had a negative net margin of 25.87% and a negative return on equity of 17.64%. The company had revenue of $27.91 million during the quarter, compared to the consensus estimate of $24.90 million. During the same quarter in the previous year, the business earned ($0.16) EPS.

Several brokerages have commented on AMSC. Zacks Investment Research downgraded shares of American Superconductor from a “hold” rating to a “sell” rating in a research report on Wednesday, November 17th. TheStreet upgraded shares of American Superconductor from a “d+” rating to a “c-” rating in a research report on Friday, October 29th.

NASDAQ AMSC opened at $12.80 on Wednesday. American Superconductor has a 1-year low of $11.25 and a 1-year high of $31.78. The company has a 50 day moving average of $15.64 and a 200-day moving average of $14.89. The company has a market cap of $363.46 million, a price-to-earnings ratio of -13.33 and a beta of 1.14.

In related news, CFO John W. Kosiba, Jr. sold 3,766 shares of the company’s stock in a transaction dated Monday, November 1st. The shares were sold at an average price of $18.95, for a total value of $71,365.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Daniel P. Mcgahn sold 7,241 shares of the company’s stock in a transaction dated Monday, November 1st. The stock was sold at an average price of $18.96, for a total transaction of $137,289.36. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. US Bancorp DE bought a new stake in shares of American Superconductor in the second quarter worth about $31,000. UBS Group AG raised its stake in American Superconductor by 4,040.0% during the 3rd quarter. UBS Group AG now owns 3,312 shares of the technology company’s stock valued at $49,000 after buying an additional 3,232 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in American Superconductor during the 3rd quarter valued at $52,000. Citigroup Inc. grew its position in shares of American Superconductor by 187.2% during the 3rd quarter. Citigroup Inc. now owns 3,791 shares of the technology company’s stock valued at $55,000 after acquiring an additional 2,471 shares during the period. Finally, Metropolitan Life Insurance Co NY grew its position in shares of American Superconductor by 101,800.0% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 7,133 shares of the technology company’s stock valued at $124,000 after acquiring an additional 7,126 shares during the period. Institutional investors own 57.11% of the company’s stock.

About American Superconductor

American Superconductor Corp. engages in provision of megawatt-scale power solutions, which improve the performance of the power grid and lower the cost of wind power. It operates through Grid and Wind segments. The Grid segment enables electric utilities and renewable energy project developers to connect, transmit, and distribute power with efficiency, reliability, security, and affordability.

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