Analog Devices Likely To Report Lower Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts
Portfolio Pulse from Avi Kapoor
Analog Devices, Inc. (NASDAQ:ADI) is anticipated to report lower Q1 earnings before the opening bell on Feb. 21, 2024, with expected earnings of $1.71 per share, down from $2.75 per share year-ago. Revenue is projected at $2.50 billion. The company recently appointed Richard C. Puccio, Jr. as CFO. Shares rose 0.6% to close at $189.40. Analyst ratings vary, with price targets ranging from $175 to $215.
February 21, 2024 | 6:40 am
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Analog Devices is expected to report lower Q1 earnings with a per-share earnings of $1.71, down from $2.75 year-ago, and projected revenue of $2.50 billion. The company appointed a new CFO and shares recently rose 0.6%.
The expected decrease in earnings per share (EPS) from $2.75 to $1.71 indicates a significant drop in profitability, which could negatively impact investor sentiment and stock price in the short term. The appointment of a new CFO and a slight increase in share price suggest some positive market reaction, but the lower earnings projection is likely to have a more substantial negative effect.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100