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Factors to Note Ahead of ANSYS' (ANSS) Q2 Earnings Release
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ANSYS Inc (ANSS - Free Report) is scheduled to report results for the second quarter of 2024 on Jul 31, after the closing bell.
The Zacks Consensus Estimate for EPS is pegged at $1.94, unchanged in the past 60 days. The figure indicates an increase of 21.25% from the year-ago quarter’s reported figure.
The Zacks Consensus Estimate for revenues is pegged at $550.8 million, indicating growth of 10.91% from the prior-year quarter’s levels.
ANSS’ earnings missed the Zacks Consensus Estimate in the last quarter but surpassed in the earlier three quarters. It has a four-quarter average surprise of a negative 0.5%. ANSS’ shares have lost 14.7% against the sub-industry’s growth of 11.2% and the S&P 500 Index’s rally of 14.8% in the year-to-date period.
Image Source: Zacks Investment Research
Factors at Play
ANSS witnesses healthy demand for its simulation solutions across major verticals such as aerospace & defense (A&D), high tech, automotive, industrial equipment and energy.
Ongoing momentum in the A&D sector, owing to the evolving space sector and digital transformation, bodes well for the company’s software solutions. In the automotive sector, higher demand for electric vehicles and advanced driver assistance systems solutions are likely to have favored the top line in the to-be-reported quarter.
Advancements in artificial intelligence (AI) and machine learning are driving simulation software capabilities, unlocking potential growth avenues for the company. Continued momentum in the high-tech industry, fueled by ongoing development in AI, acts as a key catalyst.
Geopolitical instability, forex volatility and global macroeconomic weakness remain headwinds.
Given the pending acquisition by Synopsys, as announced in January 2024, the company no longer provides guidance. However, it expects ACV and revenue growth rates to vary across the quarters in 2024 and be affected by the performance comparisons to 2023. For the remaining quarters of 2024, it expects ACV and revenues to grow in double digits.
On Jul 18, 2024, ANSS expanded its collaboration with NVIDIA and Supermicro to offer Turnkey hardware solutions that exceptionally enhance Ansys Multiphysics simulation capabilities. This partnership focuses on customizing hardware for Ansys' simulation software, resulting in remarkable speed enhancements of up to 1,600 times in computational tasks.
On Jul 9, 2024, Ansys System Tool Kit, a cutting-edge software tailored for digital mission engineering and systems analysis, was made available in the AWS Marketplace by the company. The addition of Ansys STK in the AWS Marketplace will empower engineers to simulate complex systems in a 3D environment with high-resolution terrain, imagery and radio frequency data.
On Jun 20, 2024, ANSS introduced Ansys ConceptEV, a modern SaaS solution that provides an end-to-end, model-based approach to EV powertrain design. ConceptEV empowers system and component engineers to collaborate on a shared system model, enabling them to make informed design decisions on the whole powertrain concept.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for ANSYS this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. However, this is not the case here.
ANSS has an Earnings ESP of 0.00% and a Zacks Rank #3 at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks With Favorable Combination
Here are some stocks you may consider, as our proven model shows that these have the right mix of elements to beat estimates this time around.
AAPL is scheduled to report quarterly earnings on Aug 1. The Zacks Consensus Estimate for AAPL’s to-be-reported quarter’s EPS and revenues is pegged at $1.34 and $84.02 billion, respectively. Shares of AAPL have gained 11.1% in the past year.
Marriott International, Inc (MAR - Free Report) has an Earnings ESP of +6.24% and currently carries a Zacks Rank #2. MAR is scheduled to report quarterly earnings on Jul 31.
The Zacks Consensus Estimate for MAR’s to-be-reported quarter’s EPS and revenues is pegged at $2.49 and $6.44 billion, respectively. Shares of MAR have gained 18.2% in the past year.
Kinross Gold Corporation (KGC - Free Report) has an Earnings ESP of +8.04% and a Zacks Rank #2 at present. KGC is set to report quarterly figures on Jul 31.
The Zacks Consensus Estimate for KGC’s to-be-reported quarter’s EPS and revenues is pegged at 13 cents and $1.02 billion, respectively. Shares of KGC have surged 75.9% in the past year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Factors to Note Ahead of ANSYS' (ANSS) Q2 Earnings Release
ANSYS Inc (ANSS - Free Report) is scheduled to report results for the second quarter of 2024 on Jul 31, after the closing bell.
The Zacks Consensus Estimate for EPS is pegged at $1.94, unchanged in the past 60 days. The figure indicates an increase of 21.25% from the year-ago quarter’s reported figure.
The Zacks Consensus Estimate for revenues is pegged at $550.8 million, indicating growth of 10.91% from the prior-year quarter’s levels.
ANSS’ earnings missed the Zacks Consensus Estimate in the last quarter but surpassed in the earlier three quarters. It has a four-quarter average surprise of a negative 0.5%. ANSS’ shares have lost 14.7% against the sub-industry’s growth of 11.2% and the S&P 500 Index’s rally of 14.8% in the year-to-date period.
Image Source: Zacks Investment Research
Factors at Play
ANSS witnesses healthy demand for its simulation solutions across major verticals such as aerospace & defense (A&D), high tech, automotive, industrial equipment and energy.
Ongoing momentum in the A&D sector, owing to the evolving space sector and digital transformation, bodes well for the company’s software solutions. In the automotive sector, higher demand for electric vehicles and advanced driver assistance systems solutions are likely to have favored the top line in the to-be-reported quarter.
Advancements in artificial intelligence (AI) and machine learning are driving simulation software capabilities, unlocking potential growth avenues for the company. Continued momentum in the high-tech industry, fueled by ongoing development in AI, acts as a key catalyst.
Geopolitical instability, forex volatility and global macroeconomic weakness remain headwinds.
Given the pending acquisition by Synopsys, as announced in January 2024, the company no longer provides guidance. However, it expects ACV and revenue growth rates to vary across the quarters in 2024 and be affected by the performance comparisons to 2023. For the remaining quarters of 2024, it expects ACV and revenues to grow in double digits.
ANSYS, Inc. Price and EPS Surprise
ANSYS, Inc. price-eps-surprise | ANSYS, Inc. Quote
Recent Developments
On Jul 18, 2024, ANSS expanded its collaboration with NVIDIA and Supermicro to offer Turnkey hardware solutions that exceptionally enhance Ansys Multiphysics simulation capabilities. This partnership focuses on customizing hardware for Ansys' simulation software, resulting in remarkable speed enhancements of up to 1,600 times in computational tasks.
On Jul 9, 2024, Ansys System Tool Kit, a cutting-edge software tailored for digital mission engineering and systems analysis, was made available in the AWS Marketplace by the company. The addition of Ansys STK in the AWS Marketplace will empower engineers to simulate complex systems in a 3D environment with high-resolution terrain, imagery and radio frequency data.
On Jun 20, 2024, ANSS introduced Ansys ConceptEV, a modern SaaS solution that provides an end-to-end, model-based approach to EV powertrain design. ConceptEV empowers system and component engineers to collaborate on a shared system model, enabling them to make informed design decisions on the whole powertrain concept.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for ANSYS this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. However, this is not the case here.
ANSS has an Earnings ESP of 0.00% and a Zacks Rank #3 at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks With Favorable Combination
Here are some stocks you may consider, as our proven model shows that these have the right mix of elements to beat estimates this time around.
Apple (AAPL - Free Report) has an Earnings ESP of +3.05% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here..
AAPL is scheduled to report quarterly earnings on Aug 1. The Zacks Consensus Estimate for AAPL’s to-be-reported quarter’s EPS and revenues is pegged at $1.34 and $84.02 billion, respectively. Shares of AAPL have gained 11.1% in the past year.
Marriott International, Inc (MAR - Free Report) has an Earnings ESP of +6.24% and currently carries a Zacks Rank #2. MAR is scheduled to report quarterly earnings on Jul 31.
The Zacks Consensus Estimate for MAR’s to-be-reported quarter’s EPS and revenues is pegged at $2.49 and $6.44 billion, respectively. Shares of MAR have gained 18.2% in the past year.
Kinross Gold Corporation (KGC - Free Report) has an Earnings ESP of +8.04% and a Zacks Rank #2 at present. KGC is set to report quarterly figures on Jul 31.
The Zacks Consensus Estimate for KGC’s to-be-reported quarter’s EPS and revenues is pegged at 13 cents and $1.02 billion, respectively. Shares of KGC have surged 75.9% in the past year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.