Quantum Corp. (QMCO) got here out with quarterly earnings of $0.03 per share, beating the Zacks Consensus Estimate of $0.01 per share. This compares to lack of $0.06 per share a yr in the past. These figures are adjusted for non-recurring gadgets.
This quarterly report represents an earnings shock of 200%. 1 / 4 in the past, it was anticipated that this pc storage system maker would submit a lack of $0.02 per share when it really produced break-even earnings, delivering a shock of 100%.
During the last 4 quarters, the corporate has surpassed consensus EPS estimates thrice.
Quantum Corp.Which belongs to the Zacks Laptop- Storage Gadgets business, posted revenues of $92.43 million for the quarter ended March 2021, lacking the Zacks Consensus Estimate by 5.73%. This compares to year-ago revenues of $88.22 million. The corporate has topped consensus income estimates thrice over the past 4 quarters.
The sustainability of the inventory’s instant value motion primarily based on the recently-released numbers and future earnings expectations will largely rely upon administration’s commentary on the earnings name.
Quantum Corp. Shares have added about 44.8% because the starting of the yr versus the S&P 500’s acquire of 11.5%.
What’s Subsequent for Quantum Corp.
Whereas Quantum Corp. Has outperformed the market thus far this yr, the query that involves buyers’ minds is: what’s subsequent for the inventory?
There are not any simple solutions to this key query, however one dependable measure that may assist buyers tackle that is the corporate’s earnings outlook. Not solely does this embrace present consensus earnings expectations for the approaching quarter(s), but additionally how these expectations have modified recently.
Empirical analysis exhibits a powerful correlation between near-term inventory actions and developments in earnings estimate revisions. Buyers can monitor such revisions by themselves or depend on a tried-and-tested ranking instrument just like the Zacks Rank, which has a powerful monitor report of harnessing the ability of earnings estimate revisions.
Forward of this earnings launch, the estimate revisions development for Quantum Corp. Was combined. Whereas the magnitude and route of estimate revisions may change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out in keeping with the market within the close to future. You may see the entire listing of immediately’s Zacks #1 Rank (Sturdy Purchase) shares right here.
It is going to be fascinating to see how estimates for the approaching quarters and present fiscal yr change within the days forward. The present consensus EPS estimate is $0.01 on $91.99 million in revenues for the approaching quarter and $0.34 on $401.19 million in revenues for the present fiscal yr.
Buyers needs to be conscious of the truth that the outlook for the business can have a cloth impression on the efficiency of the inventory as properly. When it comes to the Zacks Trade Rank, Laptop- Storage Gadgets is at present within the prime 47% of the 250 plus Zacks industries. Our analysis exhibits that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
Click on to get this free report
Quantum Company (QMCO): Free Inventory Evaluation Report
To learn this text on Zacks.com click on right here.
Zacks Funding Analysis
The views and opinions expressed herein are the views and opinions of the writer and don’t essentially replicate these of Nasdaq, Inc.