IPG Photonics Corporation (IPGP) has seen its stock price fall 30% year-to-date, attributed to declining earnings estimates and reduced demand for its laser systems. The company reported Q1 2024 sales of $227.79 million, a 9% decrease from the prior year, with earnings plummeting 40% to $0.31 per share.
Looking forward, IPG expects Q2 EPS to range between $0.05 and $0.25, a significant drop from $0.45 in the same period last year, and forecasts sales to be between $210 million and $240 million compared to $257 million in the previous year. Additionally, earnings estimates for fiscal years 2025 and 2026 have declined over 37% in the last 60 days, leading to a Zacks Rank #5 (Strong Sell) designation for the stock.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
