IPG Photonics Announces Second Quarter 2019 Financial Results
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IPG Photonics (IPGP) PT Lowered to $148 at Needham & Company
July 31, 2019 8:12 AM EDTNeedham & Company analyst James Ricchiuti lowered the price target on IPG Photonics (NASDAQ: IPGP) to $148.00 (from $150.00) while maintaining a Buy rating.
The analyst commented, "IPGP yesterday posted better-than-expected Q2 revs and EPS (excluding Fx losses) and had a B-T-B that was above 1.0. Although... More
IPG Photonics (IPGP) Misses Q2 EPS by 5c, Revenues Beat; Offers Q3 EPS/Revenue Guidance Below Consensus
July 30, 2019 8:07 AM EDTIPG Photonics (NASDAQ: IPGP) reported Q2 EPS of $1.34, $0.05 worse than the analyst estimate of $1.39. Revenue for the quarter came in at $363.8 million versus the consensus estimate of $354.99 million.
"Although the macroeconomic and geopolitical environment remains challenging, we delivered results in the upper half of our guidance range, while demonstrating solid traction in new products," said Dr. Valentin Gapontsev, IPG Photonics' Chief Executive Officer. "We continue to meet competitive challenges by substantially reducing component and manufacturing costs while enhancing existing products and introducing new solutions that improve productivity and increase flexibility for our... More
