Earnings Beat: Cadence Design Systems, Inc. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models
Earnings Beat: Cadence Design Systems, Inc. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models
Last week, you might have seen that Cadence Design Systems, Inc. (NASDAQ:CDNS) released its full-year result to the market. The early response was not positive, with shares down 3.8% to US$296 in the past week. Cadence Design Systems reported US$4.1b in revenue, roughly in line with analyst forecasts, although statutory earnings per share (EPS) of US$3.82 beat expectations, being 9.2% higher than what the analysts expected. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. So we gathered the latest post-earnings forecasts to see what estimates suggest is in store for next year.
上週,你可能已經看到Cadence Design Systems, Inc.(納斯達克股票代碼:CDNS)向市場發佈了全年業績。早期的反應並不樂觀,過去一週股價下跌3.8%,至296美元。Cadence Design Systems公佈的收入爲41億美元,與分析師的預測大致一致,儘管法定每股收益(EPS)爲3.82美元,超出預期,比分析師的預期高出9.2%。對於投資者來說,盈利是一個重要時刻,因爲他們可以追蹤公司的業績,查看分析師對明年的預測,看看對公司的情緒是否發生了變化。因此,我們收集了最新的業績後預測,以了解估計對明年的預測。
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Taking into account the latest results, the consensus forecast from Cadence Design Systems' 15 analysts is for revenues of US$4.59b in 2024. This reflects a decent 12% improvement in revenue compared to the last 12 months. Statutory earnings per share are predicted to accumulate 8.2% to US$4.14. In the lead-up to this report, the analysts had been modelling revenues of US$4.58b and earnings per share (EPS) of US$4.17 in 2024. So it's pretty clear that, although the analysts have updated their estimates, there's been no major change in expectations for the business following the latest results.
考慮到最新業績,Cadence Design Systems的15位分析師的共識預測是,2024年的收入爲45.9億美元。這反映出與過去12個月相比,收入增長了12%。預計每股法定收益將累積8.2%,至4.14美元。在本報告發布之前,分析師一直在模擬2024年的收入爲45.8億美元,每股收益(EPS)爲4.17美元。因此,很明顯,儘管分析師已經更新了估計,但在最新業績公佈後,對該業務的預期沒有重大變化。
The consensus price target rose 8.1% to US$315despite there being no meaningful change to earnings estimates. It could be that the analystsare reflecting the predictability of Cadence Design Systems' earnings by assigning a price premium. Fixating on a single price target can be unwise though, since the consensus target is effectively the average of analyst price targets. As a result, some investors like to look at the range of estimates to see if there are any diverging opinions on the company's valuation. Currently, the most bullish analyst values Cadence Design Systems at US$350 per share, while the most bearish prices it at US$240. This shows there is still a bit of diversity in estimates, but analysts don't appear to be totally split on the stock as though it might be a success or failure situation.
儘管收益預期沒有有意義的變化,但共識目標股價上漲了8.1%,至315美元。可能是分析師通過分配價格溢價來反映Cadence Design Systems收益的可預測性。但是,固定單一價格目標可能是不明智的,因爲共識目標實際上是分析師目標股價的平均值。因此,一些投資者喜歡查看估計範圍,看看對公司的估值是否有任何分歧。目前,最看漲的分析師對Cadence Design Systems的估值爲每股350美元,而最看跌的分析師估值爲240美元。這表明估值仍然存在一點差異,但分析師似乎對該股的看法並不完全分歧,好像這可能是成功或失敗一樣。
One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. We can infer from the latest estimates that forecasts expect a continuation of Cadence Design Systems'historical trends, as the 12% annualised revenue growth to the end of 2024 is roughly in line with the 13% annual growth over the past five years. Compare this with the broader industry, which analyst estimates (in aggregate) suggest will see revenues grow 13% annually. So although Cadence Design Systems is expected to maintain its revenue growth rate, it's only growing at about the rate of the wider industry.
了解這些預測的更多背景信息的一種方法是研究它們與過去的業績相比如何,以及同一行業中其他公司的表現。我們可以從最新估計中推斷,預測預計Cadence Design Systems的歷史趨勢將延續,因爲到2024年底的12%的年化收入增長與過去五年13%的年增長率大致一致。相比之下,分析師估計(總計),整個行業的收入每年將增長13%。因此,儘管預計Cadence Design Systems將保持其收入增長率,但其增長速度僅與整個行業差不多。
The Bottom Line
底線
The most obvious conclusion is that there's been no major change in the business' prospects in recent times, with the analysts holding their earnings forecasts steady, in line with previous estimates. Happily, there were no real changes to revenue forecasts, with the business still expected to grow in line with the overall industry. There was also a nice increase in the price target, with the analysts clearly feeling that the intrinsic value of the business is improving.
最明顯的結論是,該業務的前景最近沒有重大變化,分析師的收益預測保持穩定,與先前的估計一致。令人高興的是,收入預測沒有實際變化,預計該業務仍將與整個行業保持一致。目標股價也大幅提高,分析師顯然認爲該業務的內在價值正在提高。
With that in mind, we wouldn't be too quick to come to a conclusion on Cadence Design Systems. Long-term earnings power is much more important than next year's profits. At Simply Wall St, we have a full range of analyst estimates for Cadence Design Systems going out to 2026, and you can see them free on our platform here..
考慮到這一點,我們不會很快就Cadence設計系統得出結論。長期盈利能力比明年的利潤重要得多。在Simply Wall St,我們有分析師對Cadence Design Systems到2026年的全方位估計,你可以在我們的平台上免費查看。
Another thing to consider is whether management and directors have been buying or selling stock recently. We provide an overview of all open market stock trades for the last twelve months on our platform, here.
需要考慮的另一件事是管理層和董事最近是否在買入或賣出股票。我們在此處概述了過去十二個月在我們的平台上所有公開市場股票交易。
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。