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