Cadence Design Systems, Inc. (NASDAQ:CDNS) is projected to declare fiscal fourth quarter financial results right after the stock market’s official close on February 01, 2017. The stock added about 1.5 percent in price since last results when it was at $25.74 a share. Based on the most relevant past-periods data, there is an 57.14 percent probability for this firm’s share price to go up following next quarterly results. Earnings reaction history tells us that the equity price moved up 16 times out of last 28 reported quarters. It has beaten earnings-per-share estimates 91% of the time in its last 12 earnings reports. It fell short of earnings estimates on 1 occasions, and it has met expectations 0 time.
Here’s how traders responded to CDNS earnings announcements over the past few quarters.
Cadence Design Systems, Inc. (CDNS) Earnings Surprises & Reaction
Given its history, the average earnings announcement surprise was 14.58 percent over the past four quarters. Back on October 24, 2016, it posted earnings per-share earnings at $0.23 which beat the consensus $0.18 projection (positive surprise of27.78%. For the quarter, revenue came in at 446.22M versus consensus estimate of 446.52M. The stock dropped -0.93 percent the session following the earnings reports were released, and on 7th day price change was -0.62 percent.
On July 25, 2016, it reported earnings at $0.17 a share compared with the consensus estimate of $0.18 per share (negative surprise of -5.56%). Revenue of 453.02M for that quarter was above the $449.54M analysts had expected. The stock retreated -7.16% the day following the earnings announcement, and on 7th day price change was -7.58%.
On April 25, 2016, it recorded $0.2 a share in earnings which topped the consensus estimate of $0.18 (positive surprise of 11.11%). Revenue for the quarter was $441.08M while analysts called for revenues to be $440.36M. The stock dropped -1.13% the day following the earnings data was made public, and on 7th day price change was -1.09%.
On February 3, 2016, it announced earnings per share at $0.25 versus the consensus estimate of $0.2 per share (positive surprise of 25%). That came on revenues of $433.76M for that period. Analysts had expected $429.31M in revenue.
Cadence Design Systems, Inc. Earnings Estimates
As Q4 earnings announcement date approaches, Wall Street is expecting earnings per share of $0.31. The analysts’ present consensus range is $0.27-$0.33 for EPS. The market consensus range for revenue is between $455M and $473.9M, with an average of $465.43M.
Cadence Design Systems, Inc. (NASDAQ:CDNS) last ended at $26.03, sending the company’s market cap near $7.46B. The consensus 12-month price target from analysts covering the stock is $27.83. The share price has declined -7.04% from its top level in 52 weeks and dropped 3.21% this year. It recently traded in a range of $25.71-$26.11 at a volume of 3939816 shares. The recent trading ended with the price nearly -0.76 lower for the last 5 trading days, rebounding 38.38% from its 52-week low.