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, Inc.(纳斯达克股票代码:CDNS)的股东可能会感到有些失望,因为其股价在公布最新的第二季度业绩后的一周内下跌了9.2%,至283美元。总体而言,这似乎是一个可信的业绩——尽管11亿美元的收入与分析师的预测一致,但Cadence Design Systems惊讶地实现了每股0.84美元的法定利润,比预期高出10%。根据结果,分析师更新了他们的盈利模式,很高兴知道他们是否认为公司的前景发生了巨大变化,或者业务是否照旧。根据这些结果,我们收集了最新的法定预测,以了解分析师是否改变了盈利模式。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240724/0-3c8d37d1097aa10ff882bafa8e6556f9-0-d1dd844ef3fa360b3ae77ed6f39eedfa.png/big)
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.
考虑到最新业绩,Cadence Design Systems的16位分析师目前的共识是,2024年的收入为46.2亿美元。这将反映其在过去12个月中收入稳步增长11%。预计每股法定收益将累计4.2%至4.01美元。然而,在最新财报公布之前,分析师曾预计2024年的收入为46.0亿美元,每股收益(EPS)为4.11美元。因此,在最近的业绩公布之后,整体情绪似乎略有下降——收入估计没有重大变化,但分析师确实对每股收益的预测进行了小幅下调。
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.
共识目标股价稳定在324美元,分析师似乎投票认为,在可预见的将来,他们较低的预期收益预计不会导致股价下跌。但是,固定单一价格目标可能是不明智的,因为共识目标实际上是分析师目标股价的平均值。因此,一些投资者喜欢查看估计范围,看看对公司的估值是否有任何分歧。对Cadence Design Systems的看法有所不同,最看涨的分析师将其估值为355美元,最看跌的为每股240美元。这些目标股价表明,分析师对该业务的看法确实有所不同,但这些估计的差异不足以向我们表明,有些人押注取得巨大成功或彻底失败。
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.
我们可以从大局的角度看待这些估计值的另一种方式,例如预测如何与过去的表现相提并论,以及预测相对于业内其他公司是否或多或少看涨。分析师肯定预计,Cadence Design Systems的增长将加速,预计到2024年底的年化增长率为23%,与过去五年中每年13%的历史增长率一样,表现良好。相比之下,同行业的其他公司预计收入每年将增长12%。考虑到收入增长的预测,很明显,Cadence Design Systems的增长速度预计将比其行业快得多。
The Bottom Line
底线
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.
最大的担忧是,分析师下调了每股收益预期,这表明Cadence Design Systems可能会面临业务不利因素。令人高兴的是,收入预测没有重大变化,预计该业务的增长速度仍将快于整个行业。共识目标股价稳定在324美元,最新估计不足以对其目标价格产生影响。
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.
根据这种思路,我们认为该业务的长期前景比明年的收益重要得多。根据多位Cadence Design Systems分析师的估计,到2026年,你可以在我们的平台上免费查看。
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.
您还可以在我们的平台上免费查看Cadence Design Systems是否背负了过多的债务,以及其资产负债表是否健康。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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.
对这篇文章有反馈吗?对内容感到担忧吗?请直接联系我们。或者,也可以发送电子邮件至编辑团队 (at) simplywallst.com。
Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
对这篇文章有反馈吗?担心内容吗?直接联系我们。或者,发送电子邮件至 editorial-team@simplywallst.com