The Q1 2014 earnings report for advanced materials stock GT Advanced Technologies Inc (NASDAQ: GTAT), a potential peer of stocks like Corning Incorporated (NYSE: GLW), UniPixel Inc (NASDAQ: UNXL) and Universal Display Corporation (NASDAQ: OLED), is due out after the market closes later today. Aside from the GT Advanced Technologies earnings report, it should be said that Corning Incorporated already reported earnings on Monday, April 28 while UniPixel Inc and Universal Display Corporation are both scheduled to release earnings after the market closes on Thursday. All of these stocks are interesting because all supply advanced materials to consumer electronics, mobile device, solar and organic light emitting diode (OLED) or light emitting diode (LED) makers.
What Should You Watch Out for With the GT Advanced Technologies Inc Earnings Report?First, here is a quick recap of GT Advanced Technologies' recent earnings history from Yahoo! Finance:
| EPS Est | -0.15 | 0.09 | -0.01 | -0.35 |
| EPS Actual | -0.07 | 0.15 | -0.16 | -0.26 |
| Difference | 0.08 | 0.06 | -0.15 | 0.09 |
| Surprise % | 53.30% | 66.70% | -1,500.00% | 25.70% |
In late February, GT Advanced Technologies reported results that were in line with its guidance, noting that the company expects that 2014 will be a "transformational year, one in which it builds a sapphire materials business while continuing to invest in the new technologies that will drive its equipment business in 2015 and beyond."
In the weeks and months after earnings, a number of analysts did issue bullish calls:
Credit Suisse raised their price target to $24 from $18 based on the potential of its new technology platform called Hyperion, an improving outlook for polysilicon and sapphire markets and progress on supply agreement with Apple. Canaccord Genuity analysts Jonathan Dorsheimer and Josh Baribeau reiterated a buy rating based on possible opportunities as a supplier of sapphire displays for Apple's iPhone 6 and other smart devices. They also believe the company will benefit from a global rebound in demand for solar products following a four-year slump. Goldman Sachs analyst Brian Lee initiated coverage with a Buy rating, saying the iPhone will be worth $15 to $25 per share as it will significantly raise the company's earnings and provide positive catalysts for the stock in the second half of 2014.This time around and according to the Yahoo! Finance analyst estimates page, the consensus expects GT Advanced Technologies to report Q1 2014 revenues of $26.98M and EPS of -$0.21 with the EPS consensus being –$0.20 sixty days ago and –$0.08 ninety days ago.
What do the GT Advanced Technologies Inc Charts Say?The latest technical chart for GT Advanced Technologies clearly shows that some bullishness – up until the start of April:
But the stock along with Corning Incorporated, UniPixel and Universal Display Corporation have been all over the place over the longer term:
And for reference, here are the latest technical charts for Corning Incorporated, UniPixel and Universal Display Corporation:
Its hard to tell what GT Advanced Technologies might do after earnings because it also has rather high short interest of 28.06% according to HighShortInterest.com and the technical chart has made a change in direction. So before getting overly excited one way or the other, perhaps traders should wait for the earnings call scheduled for 8 am Thursday morning before entering their next trade.
No comments:
Post a Comment