Keysight Technologies (NYSE:KEYS) Releases Quarterly Earnings Results, Beats Expectations By $0.12 EPS

Keysight Technologies (NYSE:KEYS) issued its earnings results on Monday. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.12, MarketWatch Earnings reports. Keysight Technologies had a net margin of 20.19% and a return on equity of 30.56%. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the prior year, the business posted $2.02 EPS. The company’s revenue for the quarter was down 9.2% on a year-over-year basis. Keysight Technologies updated its Q1 guidance to $1.53-$1.59 EPS.

Keysight Technologies Stock Performance

Shares of KEYS stock traded up $1.74 during mid-day trading on Monday, hitting $134.92. The stock had a trading volume of 1,833,943 shares, compared to its average volume of 1,231,998. Keysight Technologies has a fifty-two week low of $118.57 and a fifty-two week high of $189.45. The firm has a market cap of $23.96 billion, a PE ratio of 21.42, a PEG ratio of 3.28 and a beta of 1.04. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.66 and a quick ratio of 2.93. The company’s 50-day simple moving average is $128.20 and its 200-day simple moving average is $145.68.

Institutional Trading of Keysight Technologies

Several hedge funds have recently made changes to their positions in the company. Quarry LP purchased a new stake in shares of Keysight Technologies during the 2nd quarter worth $27,000. VitalStone Financial LLC purchased a new stake in shares of Keysight Technologies during the 1st quarter worth $35,000. Fred Alger Management LLC purchased a new stake in shares of Keysight Technologies during the 4th quarter worth $41,000. Pacific Center for Financial Services acquired a new stake in Keysight Technologies in the first quarter valued at $48,000. Finally, Zions Bancorporation N.A. grew its holdings in Keysight Technologies by 1,148.3% in the first quarter. Zions Bancorporation N.A. now owns 362 shares of the scientific and technical instruments company’s stock valued at $57,000 after purchasing an additional 333 shares during the last quarter. Institutional investors and hedge funds own 81.72% of the company’s stock.

Wall Street Analyst Weigh In

KEYS has been the topic of several research reports. The Goldman Sachs Group raised Keysight Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $146.00 to $164.00 in a report on Monday, September 4th. Morgan Stanley raised Keysight Technologies from an “equal weight” rating to an “overweight” rating and set a $165.00 price objective on the stock in a report on Friday, September 15th. Wells Fargo & Company dropped their price objective on Keysight Technologies from $200.00 to $175.00 and set an “overweight” rating on the stock in a report on Friday, August 18th. StockNews.com lowered Keysight Technologies from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Bank of America reduced their target price on shares of Keysight Technologies from $148.00 to $142.00 in a report on Friday, August 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.30.

About Keysight Technologies

Keysight Technologies, Inc provides electronic design and test solutions to commercial communications, networking, aerospace, defense and government, automotive, energy, semiconductor, electronic, and education industries in the Americas, Europe, and the Asia Pacific. Its Communications Solutions Group segment provides electronic design automation (EDA) software; radio frequency and microwave test solutions, and related software; hardware and virtual network test platforms and software applications, including data center, routing and switching, software defined networking, security, and encryption; oscilloscopes, logic and serial protocol analyzers, logic-signal sources, arbitrary waveform generators, and bit error rate testers; and optical modulation analyzers, optical component analyzers, optical power meters, and optical laser source solutions, as well as resells refurbished used Keysight equipment.