Stock Story -
Electronic measurement provider Keysight (NYSE:KEYS) will be reporting results tomorrow after market close. Here’s what you need to know.
Keysight beat analysts’ revenue expectations by 1% last quarter, reporting revenues of $1.22 billion, down 12.5% year on year. It was a weaker quarter for the company, with a miss of analysts’ backlog sales estimates.
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This quarter, analysts are expecting Keysight’s revenue to decline 13.6% year on year to $1.19 billion, a deceleration from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $1.35 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Keysight has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 1.1% on average.
Looking at Keysight’s peers in the inspection instruments segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Badger Meter delivered year-on-year revenue growth of 23.2%, beating analysts’ expectations by 6.5%, and Itron reported revenues up 12.6%, topping estimates by 1.6%. Badger Meter traded up 3.7% following the results while Itron was down 2.2%.
Read the full analysis of Badger Meter’s and Itron’s results on StockStory.
Growth stocks have been quite volatile since the start of 2024, and while some of the inspection instruments stocks have fared somewhat better, they have not been spared, with share prices down 4.7% on average over the last month. Keysight is down 3.5% during the same time and is heading into earnings with an average analyst price target of $163.4 (compared to the current share price of $135.3).