Results: Cadence Design Systems, Inc. Beat Earnings Expectations And Analysts Now Have New Forecasts
Results: Cadence Design Systems, Inc. Beat Earnings Expectations And Analysts Now Have New Forecasts
Cadence Design Systems, Inc. (NASDAQ:CDNS) shareholders are probably feeling a little disappointed, since its shares fell 9.2% to US$283 in the week after its latest second-quarter results. It looks like a credible result overall - although revenues of US$1.1b were in line with what the analysts predicted, Cadence Design Systems surprised by delivering a statutory profit of US$0.84 per share, a notable 10% above expectations. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there's been a strong change in the company's prospects, or if it's business as usual. We've gathered the most recent statutory forecasts to see whether the analysts have changed their earnings models, following these results.
Cadence Design Systems股東可能會感到有些失望,因爲該股在最新的第二季度業績發佈後的一週內下跌了9.2%至283美元。總體來看,這看起來是一個可信的結果 - 儘管11億美元的營業收入與分析師的預測相符,但 Cadence Design Systems交出了每股0.84美元的 statutory收益,比預期高10%。 在此後的結果公佈後,分析師們更新了他們的盈利模型,我們想知道他們是否認爲公司的前景發生了很大的變化,還是一切照常。我們收集了最近的 statutory預測,看看分析師是否根據這些結果調整了他們的盈利模型。
Taking into account the latest results, the current consensus from Cadence Design Systems' 16 analysts is for revenues of US$4.62b in 2024. This would reflect a solid 11% increase on its revenue over the past 12 months. Statutory earnings per share are predicted to accumulate 4.2% to US$4.01. Yet prior to the latest earnings, the analysts had been anticipated revenues of US$4.60b and earnings per share (EPS) of US$4.11 in 2024. So it looks like there's been a small decline in overall sentiment after the recent results - there's been no major change to revenue estimates, but the analysts did make a minor downgrade to their earnings per share forecasts.
考慮到最新的結果,Cadence Design Systems 16名分析師的共識是2024年營業收入將達到462億美元。這將反映出過去12個月營收的穩健增長11%。預計每股 statutory收益將增長4.2%,達到4.01美元。然而,在最新的收益之前,分析師曾預計2024年的營收爲46億美元,每股股息(EPS)爲4.11美元。因此,看起來最近的收益公佈之後,總體情緒有所下滑,除了小幅下調EPS預測,分析師沒有對營收估計做出重大變化。
The consensus price target held steady at US$324, with the analysts seemingly voting that their lower forecast earnings are not expected to lead to a lower stock price in the foreseeable future. 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. There are some variant perceptions on Cadence Design Systems, with the most bullish analyst valuing it at US$355 and the most bearish at US$240 per share. These price targets show that analysts do have some differing views on the business, but the estimates do not vary enough to suggest to us that some are betting on wild success or utter failure.
共識價格目標保持在324美元,分析師似乎投票認爲他們對較低的預期收益不會在可預見的未來導致較低的股價。然而,過於關注單個價格目標可能不明智,因爲共識目標實際上是分析師價格目標的平均值。因此,一些投資者喜歡查看估計值範圍,以查看公司估值上是否存在不同看法。Cadence Design Systems存在一些不同看法,其中最看好的分析師將其估值爲355美元,最看淡的爲240美元/股。這些價格目標表明分析師對該公司的業務持有一定不同的看法,但估計值的差異不足以使我們相信一些人在押注野心勃勃的成功或徹底失敗。
Another way we can view these estimates is in the context of the bigger picture, such as how the forecasts stack up against past performance, and whether forecasts are more or less bullish relative to other companies in the industry. The analysts are definitely expecting Cadence Design Systems' growth to accelerate, with the forecast 23% annualised growth to the end of 2024 ranking favourably alongside historical growth of 13% per annum over the past five years. Compare this with other companies in the same industry, which are forecast to grow their revenue 12% annually. Factoring in the forecast acceleration in revenue, it's pretty clear that Cadence Design Systems is expected to grow much faster than its industry.
我們還可以從更大的背景下,比如預測如何與過去業績相比以及預測相對於行業其他公司來看預測是否更加看好,來看待這些估計。分析師明確預計Cadence Design Systems的增長將加速,到2024年底的預測年化增長率23%排名相當高,排在過去五年年均增長13%的歷史增長率之前。與同行業其他公司相比,這些公司的收入預計每年將增長12%。考慮到營業收入預測加速增長的預測,很明顯Cadence Design Systems的增長預期要遠高於該行業。
The Bottom Line
最重要的事情是分析師增加了它對下一年每股虧損的估計。令人欣慰的是,營收預測未發生重大變化,業務仍有望比整個行業增長更快。共識價格目標穩定在28.50美元,最新估計不足以對價格目標產生影響。
The biggest concern is that the analysts reduced their earnings per share estimates, suggesting business headwinds could lay ahead for Cadence Design Systems. Happily, there were no major changes to revenue forecasts, with the business still expected to grow faster than the wider industry. The consensus price target held steady at US$324, with the latest estimates not enough to have an impact on their price targets.
最大的擔憂是分析師降低了他們的每股收益預測,暗示着Cadence Design Systems未來可能會遇到業務阻力。令人欣慰的是,未來預計營收沒有太大變化,公司仍有望比整個行業增長更快。共識價格目標保持在324美元,最新的預測沒有足夠的影響力,無法對價格目標產生影響。
Following on from that line of thought, we think that the long-term prospects of the business are much more relevant than next year's earnings. We have estimates - from multiple Cadence Design Systems analysts - going out to 2026, and you can see them free on our platform here.
沿着這思路,我們認爲業務的長期前景比明年的收益更重要。我們有多個Cadence Design Systems分析師的預測 - 延伸至2026年,您可以在我們的平台上免費查看。
You can also see whether Cadence Design Systems is carrying too much debt, and whether its balance sheet is healthy, for free on our platform here.
您還可以在我們的平台上免費查看Cadence Design Systems是否負債過重,以及其資產負債表是否健康。
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對本文有任何反饋?對內容有任何疑慮?請直接與我們聯繫。或者,發送電子郵件至editorial-team@simplywallst.com。
這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論,只使用公正的方法論,我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議,也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意,我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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