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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Cadence Design Systems, Inc.    CDNS

CADENCE DESIGN SYSTEMS, INC.

(CDNS)
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Cadence: 3Q Earnings Snapshot

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10/21/2019 | 04:33pm EST

SAN JOSE, Calif. (AP) _ Cadence Design Systems Inc. (CDNS) on Monday reported third-quarter profit of $101.5 million.

On a per-share basis, the San Jose, California-based company said it had net income of 36 cents. Earnings, adjusted for stock option expense and non-recurring costs, were 54 cents per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 51 cents per share.

The maker of hardware and software products for validating chip designs posted revenue of $579.6 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $574.8 million.

For the current quarter ending in December, Cadence expects its per-share earnings to range from 52 cents to 54 cents.

The company said it expects revenue in the range of $590 million to $600 million for the fiscal fourth quarter.

Cadence expects full-year earnings in the range of $2.18 to $2.20 per share, with revenue ranging from $2.33 billion to $2.34 billion.

Cadence shares have climbed 54% since the beginning of the year. In the final minutes of trading on Monday, shares hit $66.75, an increase of 66% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CDNS at https://www.zacks.com/ap/CDNS

Automated Insights, source Associated Press News

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Financials (USD)
Sales 2019 2 332 M
EBIT 2019 745 M
Net income 2019 428 M
Finance 2019 423 M
Yield 2019 -
P/E ratio 2019 45,1x
P/E ratio 2020 41,9x
EV / Sales2019 8,06x
EV / Sales2020 7,29x
Capitalization 19 216 M
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Technical analysis trends CADENCE DESIGN SYSTEMS, IN
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TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 73,82  $
Last Close Price 68,49  $
Spread / Highest target 19,7%
Spread / Average Target 7,79%
Spread / Lowest Target -29,9%
EPS Revisions
Managers
NameTitle
Lip Bu Tan Chief Executive Officer & Director
Anirudh Devgan President
John B. Shoven Chairman
John M. Wall Chief Financial Officer & Senior Vice President
Neil Kole Chief Information Officer & Senior Vice President
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