It has been more than a month since the last earnings report for Maxwell Technologies, Inc. . Shares have added about 15.7% in that time frame, outperforming the market.
Will the recent positive trend continue leading up to the stock's next earnings release, or is it due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
Maxwell Incurs Narrower-Than-Expected Loss in Q3
Maxwell Technologies reported adjusted loss of 13 cents per share in third-quarter 2017, which was narrower than the Zacks Consensus Estimate of loss of 15 cents. On a year-over-year basis, the quarterly loss narrowed from the year-ago loss of 15 cents per share.
Excluding one-time items, the company incurred loss of 37 cents per share, substantially wider than earnings of 28 cents reported in the prior-year quarter.
Revenues
Maxwell Technologies’ third-quarter revenues of $35.8 million missed the Zacks Consensus Estimate of $36.4 million by 1.6%. Also, the top line declined 3.5% from the year-ago figure of $37.1 million.
While high voltage revenues dropped 31.4% in the quarter, ultracapacitor revenues improved 9.9%, resulting in a decline in total revenues.
Operational Highlights
In the quarter under review, the company’s cost of revenue was $28.4 million, down 2.9% year over year.
Total operating expenses were $20.7 million (or 57.8% of revenues) compared with $16.5 million (or 44.5% of revenues) in the prior-year quarter.
Financial Condition
As of Sep 30, Maxwell Technologies had cash and cash equivalents of $52.9 million compared with $25.4 million as of Dec 31, 2016.
As of Sep 30, long-term debt (excluding current portion) was $30.2 million compared with $0.04 million as of Dec 31, 2016.
Guidance
Maxwell Technologies expects total revenues in the range of $31-$33 million in fourth-quarter 2017. While adjusted gross margin is anticipated to be in the range of 26-29%, adjusted operating expenses are projected in the range of $11.9-$12.3 million.
How Have Estimates Been Moving Since Then?
Analysts were quiet during the past month as none of them issued any earnings estimate revisions.
VGM Scores
At this time, the stock has a subpar Growth Score of D, however its Momentum is doing a bit better with a C. Charting the exact same path, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
Our style scores indicate that the stock is more suitable for momentum investors than value investors.
Outlook
The stock has a Zacks Rank #2 (Buy). We are expecting an above average return from the stock in the next few months.
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Maxwell (MXWL) Up 15.7% Since Earnings Report: Can It Continue?
It has been more than a month since the last earnings report for Maxwell Technologies, Inc. . Shares have added about 15.7% in that time frame, outperforming the market.
Will the recent positive trend continue leading up to the stock's next earnings release, or is it due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
Maxwell Incurs Narrower-Than-Expected Loss in Q3
Maxwell Technologies reported adjusted loss of 13 cents per share in third-quarter 2017, which was narrower than the Zacks Consensus Estimate of loss of 15 cents. On a year-over-year basis, the quarterly loss narrowed from the year-ago loss of 15 cents per share.
Excluding one-time items, the company incurred loss of 37 cents per share, substantially wider than earnings of 28 cents reported in the prior-year quarter.
Revenues
Maxwell Technologies’ third-quarter revenues of $35.8 million missed the Zacks Consensus Estimate of $36.4 million by 1.6%. Also, the top line declined 3.5% from the year-ago figure of $37.1 million.
While high voltage revenues dropped 31.4% in the quarter, ultracapacitor revenues improved 9.9%, resulting in a decline in total revenues.
Operational Highlights
In the quarter under review, the company’s cost of revenue was $28.4 million, down 2.9% year over year.
Total operating expenses were $20.7 million (or 57.8% of revenues) compared with $16.5 million (or 44.5% of revenues) in the prior-year quarter.
Financial Condition
As of Sep 30, Maxwell Technologies had cash and cash equivalents of $52.9 million compared with $25.4 million as of Dec 31, 2016.
As of Sep 30, long-term debt (excluding current portion) was $30.2 million compared with $0.04 million as of Dec 31, 2016.
Guidance
Maxwell Technologies expects total revenues in the range of $31-$33 million in fourth-quarter 2017. While adjusted gross margin is anticipated to be in the range of 26-29%, adjusted operating expenses are projected in the range of $11.9-$12.3 million.
How Have Estimates Been Moving Since Then?
Analysts were quiet during the past month as none of them issued any earnings estimate revisions.
Maxwell Technologies, Inc. Price and Consensus
Maxwell Technologies, Inc. Price and Consensus | Maxwell Technologies, Inc. Quote
VGM Scores
At this time, the stock has a subpar Growth Score of D, however its Momentum is doing a bit better with a C. Charting the exact same path, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
Our style scores indicate that the stock is more suitable for momentum investors than value investors.
Outlook
The stock has a Zacks Rank #2 (Buy). We are expecting an above average return from the stock in the next few months.