Novanta Inc reports results for the quarter ended in September 30 - Earnings Summary

Novanta

06/11/2024 04:52

* Novanta Inc  NOVT.OQ  reported quarterly adjusted earnings
of 85
cents​​ per share for the quarter ended September 30, identical
to the same quarter last year.  The mean expectation of
three analysts for the quarter was for earnings of 85 cents per
share. Wall Street expected results to range from 85 cents to 86
cents per share.
    * Revenue rose 10.3% to $244.41 million from a year ago;
analysts
expected $242.33 million. 
    * Novanta Inc's reported EPS for the quarter was 53 cents​.
    * The company reported quarterly net income of $19.19
million.
    * Novanta Inc shares had fallen by 2.7% this quarter and
gained 3.4% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts was unchanged 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
178.00 
This summary was machine generated from LSEG data November 6 at
04:52 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
 Sep. 30 2024      0.85           0.85           Met
 Jun. 30 2024      0.69           0.73           Beat
 Mar. 31 2024      0.58           0.74           Beat
 Dec. 31 2023      0.63           0.63           Met