Advanced Energy Industries (AEIS) reported quarterly earnings results on Monday, May-2-2016. The company said it had a profit of $0.56 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.07. Analysts had a consensus of $0.49. The company posted revenue of $103.00 million in the period, compared to analysts expectations of $95.88 million. The company’s revenue was down -5.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 EPS.
Many Wall Street Analysts have commented on Advanced Energy Industries. Advanced Energy Industries was Downgraded by BofA/Merrill to ” Neutral” on Apr 20, 2016. Advanced Energy Industries was Downgraded by Susquehanna to ” Neutral” on Apr 19, 2016. Advanced Energy Industries was Downgraded by Needham to ” Hold” on Apr 18, 2016.
Advanced Energy Industries opened for trading at $33.54 and hit $34.25 on the upside on Wednesday, eventually ending the session at $34.16, with a gain of 1.49% or 0.5 points. The heightened volatility saw the trading volume jump to 2,52,262 shares. Company has a market cap of $1,361 M.
In a different news, on Apr 6, 2016, Thomas O Mcgimpsey (EVP Gen Counsel & Corp Sec) sold 6,247 shares at $34.86 per share price. According to the SEC, on Oct 16, 2015, Frederick Ball (director) sold 2,500 shares at $27.45 per share price. On Feb 19, 2015, Danny C Herron (Executive VP & CFO) sold 7,152 shares at $26.31 per share price, according to the Form-4 filing with the securities and exchange commission.
Advanced Energy Industries Inc. is a provider of highly-engineered mission-critical precision power conversion measurement and control solutions. The Company is engaged in designing manufacturing selling and supporting its power conversion products and solutions that transform power into various usable forms in various applications ranging from manufacturing and industrial processes to instrumentation and test and measurement. It also provides repair and maintenance services for all of its products. The Company is organized into two segments: Precision Power Products (Precision Power) and Inverters. The Precision Power segment serves OEMs and end customers in the semiconductor flat panel display solar panel and other industrial capital equipment markets. The Inverters segment focuses on commercial and utility-scale solar projects and installations selling primarily to distributors Engineering Procurement and Construction contractors (EPCs) developers and utility companies.