Analysts expect that Keysight (NYSE:KEYS) will post sales of $963.00 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Keysight’s earnings, with the lowest sales estimate coming in at $957.00 million and the highest estimate coming in at $969.00 million. Keysight posted sales of $753.00 million in the same quarter last year, which suggests a positive year-over-year growth rate of 27.9%. The business is scheduled to report its next earnings report on Tuesday, June 5th.
On average, analysts expect that Keysight will report full year sales of $3.72 billion for the current year. For the next financial year, analysts forecast that the firm will post sales of $3.93 billion per share, with estimates ranging from $3.91 billion to $3.95 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Keysight.
Keysight (NYSE:KEYS) last issued its quarterly earnings results on Thursday, March 1st. The scientific and technical instruments company reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.19. Keysight had a net margin of 2.64% and a return on equity of 18.19%. The company had revenue of $837.00 million during the quarter, compared to the consensus estimate of $805.96 million. During the same period in the prior year, the company earned $0.57 EPS. Keysight’s revenue was up 15.3% on a year-over-year basis.
A number of equities research analysts have weighed in on the stock. Citigroup upped their price target on shares of Keysight from $55.00 to $62.00 and gave the company a “buy” rating in a report on Friday, March 9th. Deutsche Bank boosted their price objective on Keysight to $65.00 and gave the stock a “buy” rating in a report on Friday, March 9th. Zacks Investment Research downgraded Keysight from a “buy” rating to a “hold” rating in a report on Saturday, March 10th. Robert W. Baird restated an “outperform” rating and set a $60.00 price objective (up previously from $52.00) on shares of Keysight in a report on Thursday, March 8th. Finally, Credit Suisse Group boosted their price objective on Keysight from $54.00 to $57.00 and gave the stock an “outperform” rating in a report on Friday, March 9th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $55.50.
In related news, SVP Ingrid A. Estrada sold 43,134 shares of the stock in a transaction that occurred on Tuesday, March 20th. The stock was sold at an average price of $52.78, for a total value of $2,276,612.52. Following the transaction, the senior vice president now owns 74,213 shares in the company, valued at $3,916,962.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Neil Dougherty sold 6,671 shares of the stock in a transaction that occurred on Wednesday, March 28th. The stock was sold at an average price of $51.13, for a total value of $341,088.23. Following the completion of the transaction, the chief financial officer now owns 90,195 shares in the company, valued at approximately $4,611,670.35. The disclosure for this sale can be found here. Insiders sold a total of 116,049 shares of company stock worth $6,107,829 in the last quarter. 0.97% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in KEYS. Schwab Charles Investment Management Inc. increased its holdings in Keysight by 4.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 584,231 shares of the scientific and technical instruments company’s stock worth $24,340,000 after buying an additional 23,972 shares during the last quarter. Magnetar Financial LLC acquired a new position in Keysight in the third quarter worth approximately $336,000. Janus Henderson Group PLC increased its holdings in Keysight by 32.7% in the third quarter. Janus Henderson Group PLC now owns 53,915 shares of the scientific and technical instruments company’s stock worth $2,246,000 after buying an additional 13,284 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in Keysight by 146.4% in the third quarter. Point72 Asset Management L.P. now owns 322,600 shares of the scientific and technical instruments company’s stock worth $13,440,000 after buying an additional 191,700 shares during the last quarter. Finally, California Public Employees Retirement System increased its holdings in Keysight by 5.2% in the third quarter. California Public Employees Retirement System now owns 400,222 shares of the scientific and technical instruments company’s stock worth $16,673,000 after buying an additional 19,722 shares during the last quarter. Hedge funds and other institutional investors own 88.65% of the company’s stock.
Shares of NYSE KEYS opened at $53.89 on Friday. Keysight has a twelve month low of $35.33 and a twelve month high of $55.21. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.57 and a quick ratio of 1.88. The stock has a market capitalization of $10,090.90, a price-to-earnings ratio of 24.17 and a beta of 1.00.
Keysight declared that its Board of Directors has authorized a share repurchase plan on Tuesday, March 6th that allows the company to repurchase $350.00 million in outstanding shares. This repurchase authorization allows the scientific and technical instruments company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.
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Keysight Company Profile
Keysight Technologies, Inc provides electronic design and test solutions to communications and electronics industries internationally. Its Communications Solutions Group segment provides radio frequency and microwave test instruments and related software, and electronic design automation (EDA) software tools; oscilloscopes, logic and serial protocol analyzers, logic-signal sources, arbitrary waveform generators, and bit error rate testers; optical modulation analyzers, component analyzers, power meters, and laser source products, as well as optical amplifier, filter, and other passive component solutions; and related software solutions.
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