Altera 2Q Earnings Pregame Scorecard

FOXBusiness

After falling short of analyst expectations last quarter, Altera (NASDAQ:ALTR) will try to redeem itself when it reports again on Tuesday.

Expectations

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Analysts currently expect Altera to come in with earnings of 39 cents per share on revenues of $445.3 million. Analysts gave estimates ranging from 37 cents per share to 40 cents per share. Over the past three months, the average estimate has moved down from 40 cents.

Stock Movement

The stock fell $2.87 per share between May 29, 2012 and June 1, 2012. Looking at change over the last three months, April 23, 2012 and July 18, 2012, the stock price fell $2.77 (-8%), from $34.55 to $31.78.

Company Fundamental Trends

Stock Ratings

Analysts are bullish on the stock as 12 analysts rate it as a buy and there are no sell ratings. Analyst sentiment has been improving recently, as the average rating risen slightly over the past three months.

Last Quarter's Results

In the first quarter, profit fell 48.3% to $115.8 million (35 cents a share) from $224.1 million (68 cents a share) the year earlier, missing analyst expectations. Revenue fell 28.4% to $383.8 million from $535.8 million.

Summary

Reporting Period: 2Q

Date of Release: Tuesday, July 24, 2012

EPS: 39 cents

Revenue Estimate: $445.3 million

(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)