Novanta (NASDAQ:NOVT) Issues Q2 Earnings Guidance

Novanta (NASDAQ:NOVT) updated its second quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.53-$0.55 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.57. The company issued revenue guidance of $153-$155 million, compared to the consensus revenue estimate of $160.88 million.Novanta also updated its FY 2019 guidance to $2.36-2.42 EPS.

NASDAQ NOVT opened at $79.89 on Friday. Novanta has a 52 week low of $55.68 and a 52 week high of $89.78. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.78 and a current ratio of 2.83. The firm has a market cap of $2.80 billion, a PE ratio of 36.99 and a beta of 1.46.

Novanta (NASDAQ:NOVT) last posted its quarterly earnings results on Tuesday, May 7th. The technology company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.49 by $0.04. The business had revenue of $157.20 million for the quarter, compared to analyst estimates of $155.85 million. Novanta had a return on equity of 19.26% and a net margin of 7.92%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.47 EPS. Sell-side analysts expect that Novanta will post 2.41 earnings per share for the current fiscal year.

A number of analysts recently issued reports on the company. BidaskClub downgraded Novanta from a strong-buy rating to a buy rating in a research report on Thursday, April 18th. Zacks Investment Research downgraded Novanta from a buy rating to a hold rating in a research report on Wednesday, May 1st.

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Novanta Company Profile

Novanta Inc, together with its subsidiaries, designs, manufactures, markets, and sells photonics, vision, and precision motion components and sub-systems to original equipment manufacturers in the medical and industrial markets worldwide. The company's Photonics segment offers photonics-based solutions, including laser scanning and laser beam delivery, CO2 laser, continuous wave and ultrafast laser, and optical light engine products for photonics-based applications, such as industrial material processing, metrology, medical and life science imaging, DNA sequencing, and medical laser procedures.

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