Cirrus Logic Inc expected to post earnings of 64 cents a share - Earnings Preview

Cirrus Logic

04/05/2024 03:58

* Cirrus Logic Inc  CRUS.OQ   CRUS.O  is expected to show a
fall
in quarterly revenue when it reports  results on May 7 for the
period ending March 31 2024
    * The Austin Texas-based  company is expected to report a
15.1% decrease in revenue to $316.522 million from $372.82
million a year ago, according to the mean estimate from 8
analysts, based on LSEG data.The company's guidance on February
6 2024, for the period ended March 31, was for revenue between
$290.00 million and $350.00 million.
    * ​LSEG's mean analyst estimate for Cirrus Logic Inc is for
earnings of 64 cents per share. 
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 7 "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell."  
    * The mean earnings estimate of analysts was unchanged in
the last
three months. ​
    * Wall Street's median 12-month price target for Cirrus
Logic Inc
is $100.00​, above​ its last closing price of $88.48. ​​​

The company's guidance on February 6 2024 for the period ended
March 31 was for gross profit margin between USD49% and USD51%.
Previous quarterly performance (using preferred earnings measure
in US dollars). ​
 QUARTER       STARMINESM  LSEG IBES  ACTUAL    BEAT,   SURPRI
 ENDING        ARTESTIMAT  ESTIMATE             MET,    SE %
               E®                               MISSED  
 Jan. 1 0001   2.01        2.01       2.89      Beat    43.6
 Sep. 30 0001  1.56        1.54       1.80      Beat    16.6
 Jun. 30 2023  0.41        0.41       0.67      Beat    63.9​
 Jan. 1 0001   0.85        0.84       0.92      Beat    9.7
 ​​Dec.        2.00        1.99       2.40      Beat    20.6
 31 2022                                                
 Jan. 1 0001   1.44        1.44       1.99      Beat    38.5​
 Jun. 30 2022  0.84        0.83       1.12      Beat    35.6
 Mar. 31 2022  1.40        1.40       2.01      Beat    43.5
 This summary was machine generated May 4 at 02:58 GMT.  All
figures in US dollars unless otherwise stated. (For questions
concerning the data in this report, contact
Estimates.Support@lseg.com. For any other questions or feedback,
contact RefinitivNewsSupport@thomsonreuters.com)