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Electronics Stocks' Feb 5 Earnings Roster: AME, NVT & More

By Zacks Investment ResearchStock MarketsFeb 03, 2020 10:15PM ET
www.investing.com/analysis/electronics-stocks-feb-5-earnings-roster-ame-nvt--more-200504429
Electronics Stocks' Feb 5 Earnings Roster: AME, NVT & More
By Zacks Investment Research   |  Feb 03, 2020 10:15PM ET
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Electronics stocks' quarterly results reflect growing adoption of AR/VR devices, AI, ML and cloud computing. Further, IoT supported industrial automation and rising demand for connected appliances in consumer market have acted as tailwinds.

Additionally, technical advancements in the Internet infrastructure and accelerated deployment of 5G technology worldwide are expected to have benefited industry participants’ fourth-quarter performance.

Furthermore, increasing usage of electronic components in smart cars and autonomous vehicles is likely to have benefited the electronics companies in the quarter under review.

However, electronics companies have significant exposure to the semiconductor industry, which is facing softness thanks to declining memory prices, lower chip demand from smartphone OEMs and imposition of tariffs owing to the U.S.-China trade war. This is likely to have weighed on the industry participants’ fourth-quarter performance.

Further, suspension of shipments to Huawei on account of the export ban imposed by the U.S. government is expected to have affected the quarterly results of the electronics stocks.

Q4 Performance of Electronics Stocks so Far

Teradyne (NASDAQ:TER) , TE Connectivity (NYSE:TEL) , Flex (NASDAQ:FLEX) and National Instruments are among some of the notable electronics stocks that have already released their quarterly results.

Teradyne reported impressive fourth-quarter 2019 results, reflecting year-over-year growth in earnings and revenues. This was attributed to higher-than-expected memory and wireless test demand, and continued growth in 5G infrastructure test spending.

Further, National Instruments reported strong fourth-quarter 2019 results wherein both earnings and revenues improved from the year-ago quarter on the back of accelerating orders in semiconductor, transportation and aerospace, defense and government end-markets.

Meanwhile, TE Connectivity’s first-quarter fiscal 2020 earnings and revenues declined year over year thanks to weakness in the all the key end-markets, which impacted the performance of Transportation, Industrial and Communication segments.

Flex delivered mixed third-quarter fiscal 2020 results wherein earnings grew year over year but revenues declined from the year-ago quarter. This can be attributed to sluggish demand from China and soft demand from networking customers.

Sneak Peek on Few Upcoming Releases

In this backdrop, let’s see how the following electronics stocks are poised ahead of their quarterly releases on Feb 5.

AMETEK’s (NYSE:AME) fourth-quarter 2019 results are expected to reflect positive contributions from its strategic acquisitions — Motec, Forza, Telular, Pacific Design Technologies and Spectro Scientific, which are likely to have aided its segmental performance. Further, the company’s strengthening engineering initiatives are expected to have driven organic growth in the quarter under review. (Read more: AMETEK to Report Q4 Earnings: What's in the Offing?)

Moreover, AMETEK is expected to report a beat this quarter as it has an Earnings ESP of +0.14% and a Zacks Rank #3 (Hold).

This is because our proven model predicts an earnings beat for AMETEK this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat.. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Notably, the Zacks Consensus Estimate for AMETEK’s fourth-quarter earnings has been stable over the past 30 days at $1.03 per share.

nVent Electric’s (NYSE:NVT) fourth-quarter 2019 results are likely to have benefited from portfolio strength and modular and digital platforms. Further, the company’s growth, profits and cash strategies are likely to have driven the fourth-quarter performance. Moreover, strengthening relationships with strategic channel partners are expected to have benefited the company.

However, macroeconomic challenges, continued softness in thermal management and foreign currency headwinds are likely to have impacted the stock negatively in the to-be-reported quarter.

Notably, the Zacks Consensus Estimate for earnings has been stable over the past 30 days at 44 cents per share.

nVent has an Earnings ESP of 0.00% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.

Cubic Corporation’s (NYSE:CUB) fiscal first-quarter 2020 results are expected to reflect strong momentum across Transportation and Mission Solutions. Further, benefits from Trafficware and GRIDSMART acquisitions are likely to have benefited the company in the to-be-reported quarter.

However, unfavorable order timings and accelerating investment costs thanks to initial Troposcatter order are expected to have affected the company’s fiscal first-quarter performance.

Notably, the Zacks Consensus Estimate for earnings of 23 cents per share moved down to a loss of 7 cents over the past 30 days.

Cubic has an Earnings ESP of 0.00% and a Zacks Rank #4 (Sell).

TTM Technologies’ (NASDAQ:TTMI) fourth-quarter 2019 results are expected to have benefited from increasing automotive content, growing adoption of RF electronics in the aerospace and defense industry and 5G related growth opportunities.

However, weakening momentum across datacenter and industrial customers, U.S.-China trade war and Huawei ban are likely to have hurt the company’s performance in the quarter under review.

Notably, the Zacks Consensus Estimate for earnings has been stable over the past 30 days at 27 cents per share.

TTM Technologies has an Earnings ESP of 0.00% and a Zacks Rank #4.

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TTM Technologies, Inc. (TTMI): Free Stock Analysis Report

TE Connectivity Ltd. (TEL): Free Stock Analysis Report

Cubic Corporation (CUB): Free Stock Analysis Report

Teradyne, Inc. (TER): Free Stock Analysis Report

AMETEK, Inc. (AME): Free Stock Analysis Report

Flex Ltd. (FLEX): Free Stock Analysis Report

nVent Electric PLC (NVT): Free Stock Analysis Report

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Zacks Investment Research
Electronics Stocks' Feb 5 Earnings Roster: AME, NVT & More
 

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Electronics Stocks' Feb 5 Earnings Roster: AME, NVT & More

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