Fortinet Inc <FTNT.OQ> expected to post earnings of 41 cents a share - Earnings Preview
Fortinet Inc FTNT.OQ FTNT.O is expected to show a rise in quarterly revenue when it reports results on August 6 for the period ending June 30 2024
The Sunnyvale California-based company is expected to report a 8.6% increase in revenue to $1.403 billion from $1.29 billion a year ago, according to the mean estimate from 33 analysts, based on LSEG data.The company's guidance on May 2 2024, for the period ended June 30, was for revenue between 1.38 billion and 1.44 billion. (SAL is based on Total Revenue)
LSEG's mean analyst estimate for Fortinet Inc is for earnings of 41 cents per share. The company's EPS guidance on May 2 2024, for the period ended June 30, was between 0.39 and 0.41
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 16 "strong buy" or "buy," 26 "hold" and 2 "sell" or "strong sell."
The mean earnings estimate of analysts was unchanged in the last three months.
Wall Street's median 12-month price target for Fortinet Inc is $69.50, above its last closing price of $57.20.
The company's guidance on May 2 2024 for the period ended June 30 was for Earnings before Interest and Taxes between 354.0625 million and 383.8625 million.The company's guidance on May 2 2024 for the period ended June 30 was for Capital Expenditures between 30 million and 40 million.The company's guidance on May 2 2024 for the period ended June 30 was for gross profit margin between 76.5% and 77.5%.
Previous quarterly performance (using preferred earnings measure in US dollars).
QUARTER ENDING | STARMINESMARTESTIMATE® | LSEG IBES ESTIMATE | ACTUAL | BEAT, MET, MISSED | SURPRISE % |
Mar. 31 2024 | 0.39 | 0.38 | 0.43 | Beat | 11.7 |
Jan. 1 2024 | 0.44 | 0.43 | 0.51 | Beat | 17.9 |
Sep. 30 2023 | 0.37 | 0.36 | 0.41 | Beat | 12.7 |
Jun. 30 2023 | 0.34 | 0.34 | 0.38 | Beat | 11 |
Mar. 31 2023 | 0.29 | 0.29 | 0.34 | Beat | 18.6 |
Dec. 31 2022 | 0.39 | 0.39 | 0.44 | Beat | 12.4 |
Sep. 30 2022 | 0.28 | 0.27 | 0.33 | Beat | 20.8 |
Jun. 30 2022 | 0.22 | 0.22 | 0.24 | Beat | 10.4 |
This summary was machine generated August 2 at 22:01 GMT. All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)
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