Microsemi Corp.(NASDAQ:MSCC) topped earnings-per-share estimates 50% of the time

Microsemi Corporation (NASDAQ:MSCC) is projected to declare fiscal second quarter financial results right before the stock market’s official open on April 27, 2017. The stock lost about -8 percent in price since last results when it was at $56.56 a share. Based on the most relevant past-periods data, there is an 59.26 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 27 reported quarters. It has beaten earnings-per-share estimates 50% of the time in its last 12 earnings reports. It fell short of earnings estimates on 3 occasions, and it has met expectations 3 times.

Here’s how traders responded to MSCC earnings announcements over the past few quarters.

Microsemi Corporation (MSCC) Earnings Surprises & Reaction

Given its history, the average earnings announcement surprise was 7.33 percent over the past four quarters. Back on January 26, 2017, it posted earnings per-share earnings at $0.62 which missed the consensus $0.7 projection (negative surprise of-11.43%). For the quarter, revenue came in at 435.5M versus consensus estimate of 435.26M. The stock dropped -1.63 percent the session following the earnings reports were released, and on 7th day price change was -5.41 percent.

On November 10, 2016, it reported earnings at $0.77 a share compared with the consensus estimate of $0.73 per share (positive surprise of 5.48%). Revenue of 450.1M for that quarter was above the $448.07M analysts had expected. The stock climbed 6.77% the day following the earnings announcement, and on 7th day price change was 13.79%.

On July 28, 2016, it recorded $0.62 a share in earnings which topped the consensus estimate of $0.54 (positive surprise of 14.81%). Revenue for the quarter was $431.4M while analysts called for revenues to be $430.22M. The stock gained 7.73% the day following the earnings data was made public, and on 7th day price change was 6.08%.

On April 28, 2016, it announced earnings per share at $0.53 versus the consensus estimate of $0.44 per share (positive surprise of 20.45%). That came on revenues of $444.3M for that period. Analysts had expected $444.67M in revenue.

Microsemi Corporation Earnings Estimates

As Q2 earnings announcement date approaches, Wall Street is expecting earnings per share of $1.01. The analysts’ present consensus range is $0.96-$1.09 for EPS. The market consensus range for revenue is between $455.9M and $469.3M, with an average of $462.38M.

Microsemi Corporation (NASDAQ:MSCC) last ended at $52.25, sending the company’s market cap near $6.02B. The consensus 12-month price target from analysts covering the stock is $63.91. The share price has declined -9.87% from its top level in 52 weeks and advanced -3.19% this year. It recently traded in a range of $51.58-$52.43 at a volume of 523889 shares. The recent trading ended with the price nearly -0.46 lower for the last 5 trading days, rebounding 76.04% from its 52-week low.


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