Novanta Inc reports results for the quarter ended June 30 - Earnings Summary

• Novanta Inc NOVT.OQ reported quarterly adjusted earnings of 76 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of 73 cents. The mean expectation of three analysts for the quarter was for earnings of 73 cents per share. Wall Street expected results to range from 73 cents to 74 cents per share.

• Revenue rose 2.2% to $241.00 million from a year ago; analysts expected $237.99 million.

• Novanta Inc's reported EPS for the quarter was 12 cents​.

• The company reported quarterly net income of $4.5 million.

• Novanta Inc shares had fallen by 3.8% this quarter and lost 18.8% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 1.8% in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy," 2 "hold" and no "sell" or "strong sell." The average consensus recommendation for the electronic equipment & parts peer group is also "buy"

• Wall Street's median 12-month price target for Novanta Inc is $158.50, about 21.8% above its last closing price of $124.01

This summary was machine generated from LSEG data August 5 at 01:31 p.m. UTC. ​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)