Cadence Design Systems Inc (NASDAQ: CDNS) has reported E.P.S. of $0.92 for its first fiscal quarter (ending March 31) versus $0.90 for the same period a year ago. For the latest four quarters through March 31, E.P.S. were $3.88 versus $3.17 for the same period a year ago.
Recent Price Action
On 4/22/24, Cadence Design Systems Inc (NASDAQ: CDNS) stock increased 1.7%, closing at $285.02. Moreover, this advance was accompanied by unusually high trading volume at 176% of normal. Relative to the market the stock has been exceptionally strong over the last nine months but has declined -6.8% during the last week.
Current PriceTarget Research Rating
CDNS’ future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be a major Value Builder.
Cadence Design Systems has a current Value Trend Rating of C (Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. Cadence Design Systems has a very low Appreciation Score of 15 but a very high Power Rating of 87, with the Neutral Value Trend Rating the result.
Rating Review
In light of this new information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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