Mobileye is scheduled to report Q3 earnings tomorrow, here’s what to look for
Mobileye NV (NYSE:MBLY) will be publishing earnings for the third quarter of this year tomorrow, before the market opens. The stock closed at $38.96 on Friday, up about 3.92% against the previous day’s close.
Ahead of the earning print, The Country Caller shares the consensus expectations of the analysts at the Wall Street, providing a foresight for the investors into the company’s financial position.
As per the projections of Street analysts, the Israel-based manufacturer of driver assistance systems is expected to post revenue of $89.47 million for 3QFY16, this would translate into a rise of 27% as compared to the revenue reported in the same period of 2015. Over the past nine quarters, Mobileye has surpassed the consensus expectations for top-line in each quarter. During 2Q, the company posted revenue of $83.49 million, beating the estimate of $77.10 million by 8.27%.
For the third quarter, the analysts forecast the bottom-line to grow by 83%, as Mobileye’s Earnings per Share (EPS) is expected to clock in at 18 cents. Similar to revenue, the technology company has an impressive record in being ahead of consensus estimates. It has beaten the estimates in all past nine quarters.
During the second quarter of this year, Mobileye’s EPS stood at $17 cents, nearly 13% ahead of the expectations. However, despite a revenue and earnings beat during 2QFY16, the stock tanked about 8% the day following the earnings release.
On Friday, investment firm CLSA’s analyst Emmanuel Rosner released a research note, reiterating a Buy rating along with a price target of $58 on the stock. Mr. Rosner believes Mobileye may report a solid quarterly performance and simultaneously announce a potential REM deal with Volkswagen AG (OTCMKTS:VLKAY). He said: “A deal could confirm REM’s value as a moat and help quantify the material revenue streams it creates.”
In addition to this, the global leader in Advanced Driver Assistance Systems and autonomous driving technologies will also be representing at the Automotive Conference conducted by Barclays Global on Thursday, November 17, 2016. The company’s Chief Communications Officer (CCO), Dan Galves is expected to be present at the event.