Analysts Anticipate Everspin Tech (MRAM) Will Announce Earnings of -$0.40 Per Share

Equities analysts predict that Everspin Tech (NASDAQ:MRAM) will announce earnings of ($0.40) per share for the current quarter, Zacks reports. Two analysts have issued estimates for Everspin Tech’s earnings. The highest EPS estimate is ($0.37) and the lowest is ($0.43). Everspin Tech posted earnings of ($0.48) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 16.7%. The firm is expected to report its next quarterly earnings results on Friday, March 9th.

According to Zacks, analysts expect that Everspin Tech will report full-year earnings of ($1.76) per share for the current financial year, with EPS estimates ranging from ($1.80) to ($1.71). For the next year, analysts anticipate that the business will post earnings of $0.23 per share, with EPS estimates ranging from ($0.15) to $0.61. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that follow Everspin Tech.

Everspin Tech (NASDAQ:MRAM) last posted its quarterly earnings data on Monday, November 13th. The business services provider reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.02. Everspin Tech had a negative return on equity of 108.26% and a negative net margin of 66.90%. The firm had revenue of $8.30 million for the quarter, compared to the consensus estimate of $9.90 million. The company’s quarterly revenue was up 31.7% on a year-over-year basis.

Several research analysts have issued reports on MRAM shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $18.00 price objective on shares of Everspin Tech in a report on Thursday, October 12th. Zacks Investment Research upgraded shares of Everspin Tech from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. Needham & Company LLC reiterated a “buy” rating and set a $24.00 target price on shares of Everspin Tech in a research report on Monday, August 28th. dropped their target price on shares of Everspin Tech from $24.00 to $17.00 and set a “strong-buy” rating for the company in a research report on Wednesday, November 15th. Finally, Canaccord Genuity dropped their target price on shares of Everspin Tech from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $16.75.

Several institutional investors have recently modified their holdings of the business. Bamco Inc. NY raised its position in shares of Everspin Tech by 20.3% during the 3rd quarter. Bamco Inc. NY now owns 243,825 shares of the business services provider’s stock valued at $4,167,000 after acquiring an additional 41,100 shares during the last quarter. B. Riley Financial Inc. increased its position in shares of Everspin Tech by 135.2% in the 3rd quarter. B. Riley Financial Inc. now owns 40,720 shares of the business services provider’s stock valued at $696,000 after buying an additional 23,408 shares in the last quarter. EAM Investors LLC increased its position in shares of Everspin Tech by 223.3% in the 3rd quarter. EAM Investors LLC now owns 126,205 shares of the business services provider’s stock valued at $2,157,000 after buying an additional 87,167 shares in the last quarter. Granite Investment Partners LLC bought a new stake in shares of Everspin Tech in the 3rd quarter valued at $560,000. Finally, Mesirow Financial Investment Management Inc. bought a new stake in shares of Everspin Tech in the 2nd quarter valued at $419,000. Institutional investors own 29.47% of the company’s stock.

Everspin Tech (NASDAQ MRAM) traded up $0.82 during trading hours on Tuesday, reaching $9.02. The company’s stock had a trading volume of 363,620 shares, compared to its average volume of 163,447. Everspin Tech has a 12-month low of $6.63 and a 12-month high of $25.39. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.27 and a current ratio of 3.04.

TRADEMARK VIOLATION NOTICE: “Analysts Anticipate Everspin Tech (MRAM) Will Announce Earnings of -$0.40 Per Share” was first posted by Transcript Daily and is owned by of Transcript Daily. If you are reading this piece on another domain, it was copied illegally and reposted in violation of U.S. and international trademark & copyright law. The original version of this piece can be read at https://transcriptdaily.com/2017/11/22/analysts-anticipate-everspin-tech-mram-will-announce-earnings-of-0-40-per-share.html.

Everspin Tech Company Profile

Everspin Technologies, Inc is a United States-based provider of magnetoresistive random-access memory (MRAM) solutions. The Company is engaged in designing, manufacturing and shipping discrete and embedded MRAM and spin-torque MRAM (ST-MRAM) into markets and applications. The Company’s products include 8-bit/16-bit Parallel Interface MRAM, Serial Peripheral Interface (SPI), Quad SPI and Double Data Rate (DDR) 3 dynamic random-access memory (DRAM) Compatible MRAM – Spin Torque Technology.

Get a free copy of the Zacks research report on Everspin Tech (MRAM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Everspin Tech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Everspin Tech and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply