Keysight Technologies Stock Up Ahead of Earnings: Retail’s Cautious
By Stocktwits Inc | First Published Nov 20, 2024, 2:31 AM ISTKeysight, which optimizes networks and brings electronic products to market faster, has beaten estimates four times in the last year.
Shares of Keysight Technologies Inc. ($KEYS) were trading up on Tuesday afternoon, ahead of its fourth- quarter earnings, with retail sentiment in the neutral zone.
Wall Street analysts expect Earnings Per Share (EPS) to come in at $1.57 on revenue of $1.26 billion. The company is due to report earnings after the markets close on Tuesday.
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Keysight, which optimizes networks and brings electronic products to market faster, has beaten estimates four times in the last year. Its customers span the worldwide communications ecosystems, aerospace and defense, automotive, energy, semiconductor and general electronics end markets.
The company earlier issued an outlook for its fourth fiscal quarter, pegging revenue in the range of $1.245 billion to $1.265 billion. Its non-GAAP EPS was expected to be in the range of $1.53 to $1.59, based on a weighted diluted share count of approximately 174 million shares and a non-GAAP tax rate of 14%.
Retail sentiment on the stock inched up to ‘neutral’ (54/100) from ‘bearish’ (39/100) a day ago. While message volumes continued to be in the ‘extremely high’ zone.
Keysight Techs has a consensus rating of ‘Outperform’ from Wall Street, Benzinga reported citing a consensus of seven analysts. The average one-year price target is $171.14, indicating a potential 14.57% upside, it added.
“The funnel of opportunities supports our outlook for second half orders to be above first half orders, followed by a more gradual recovery in 2025, barring any further macroeconomic degradation,” Satish Dhanasekaran, Keysight’s president and CEO, said at the time of the last earnings.
In the last quarter, it posted revenues of $1.22 billion, compared with $1.38 billion in the year-ago period. Its non-GAAP net income was $275 million, or $1.57 per share.
The company stock is down 2.36% year-to-date.
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