Novanta Inc reports results for the quarter ended in March - Earnings Summary

Novanta

08/05/2024 07:01

* Novanta Inc  NOVT.OQ  reported quarterly adjusted earnings
of 74
cents​​ per share for the quarter ended in March, identical to
the same quarter last year.  The mean expectation of
three analysts for the quarter was for earnings of 58 cents per
share. Wall Street expected results to range from 57 cents to 58
cents per share.
    * Revenue rose 5.4% to $230.92 million from a year ago;
analysts
expected $227.88 million. 
    * Novanta Inc's reported EPS for the quarter was 41 cents​.
    * The company reported quarterly net income of $14.68
million.
    * Novanta Inc shares had fallen by 7.4% this quarter and
lost 3.9%
so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 8.9%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the electronic
equipment & parts peer group is also "buy"

Wall Street's median 12-month price target for Novanta Inc is
$178.50 
This summary was machine generated from LSEG data May 8 at 06:01
a.m. UTC. ​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) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.58           0.74           Beat
 Dec. 31 2023      0.63           0.63           Met
 Sep. 30 2023      0.74           0.85           Beat
 Jun. 30 2023                     0.80