Synopsys (SNPS) Updates FY19 Earnings Guidance

Synopsys (NASDAQ:SNPS) updated its FY19 earnings guidance on Thursday. The company provided earnings per share guidance of $4.20-4.27 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.25. Synopsys also updated its Q1 guidance to $0.95-1.00 EPS.

A number of brokerages recently commented on SNPS. BidaskClub upgraded Synopsys from a buy rating to a strong-buy rating in a research report on Tuesday, August 28th. DA Davidson lifted their price objective on Synopsys to $110.00 and gave the stock a buy rating in a research report on Thursday, August 23rd. JPMorgan Chase & Co. lifted their price objective on Synopsys to $98.00 and gave the stock an underweight rating in a research report on Thursday, August 23rd. KeyCorp lifted their price objective on Synopsys from $112.00 to $115.00 and gave the stock an overweight rating in a research report on Thursday, August 23rd. Finally, Needham & Company LLC reiterated a buy rating and set a $105.00 price objective (up previously from $100.00) on shares of Synopsys in a research report on Thursday, August 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. Synopsys has a consensus rating of Buy and an average price target of $108.50.

NASDAQ:SNPS opened at $90.09 on Friday. Synopsys has a 52 week low of $80.13 and a 52 week high of $103.40. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $13.29 billion, a price-to-earnings ratio of 31.95, a price-to-earnings-growth ratio of 3.52 and a beta of 1.29.

Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, December 5th. The semiconductor company reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.37. Synopsys had a return on equity of 17.30% and a net margin of 13.86%. The company had revenue of $795.08 million for the quarter, compared to the consensus estimate of $794.55 million. On average, research analysts predict that Synopsys will post 2.54 EPS for the current fiscal year.

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About Synopsys

Synopsys, Inc provides electronic design automation (EDA) software products used to design and test integrated circuits (ICs). It offers Galaxy Design platform that offers IC design solutions; Verification Continuum Platform, which provides virtual prototyping, static and formal verification, simulation, emulation, field-programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.

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Earnings History and Estimates for Synopsys (NASDAQ:SNPS)

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