SMART Global Gears Up For Q4 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
Portfolio Pulse from Avi Kapoor
SMART Global Holdings, Inc. (NASDAQ:SGH) is anticipated to release its Q2 earnings after the market closes on April 9, 2024, with analysts expecting a decrease in earnings per share from 76 cents to 25 cents year-over-year, and a projected quarterly revenue of $283.79 million. The company previously announced a $75 million share repurchase authorization. Shares fell 2% to $25.49 recently. Analysts from Needham, Rosenblatt, Deutsche Bank, and Barclays have provided updated ratings and price targets for SGH.
April 05, 2024 | 2:38 pm
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SMART Global Holdings, Inc. is expected to report a significant decrease in earnings per share in its upcoming Q2 earnings report, with a projected revenue of $283.79 million. The company has also announced a $75 million share repurchase authorization.
The expected decrease in earnings per share from 76 cents to 25 cents year-over-year suggests a significant downturn in profitability, which could negatively impact investor sentiment and stock price in the short term. The share repurchase authorization might provide some support to the stock price, but the sharp decline in expected earnings is likely to have a more pronounced negative effect.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100