Adeia Inc (NASDAQ: ADEA) has reported earnings for its first fiscal quarter (ending March 31) of $0.01 versus $0.27 for the same period a year ago — a decline of -96%. This result fell short of the consensus estimate of $0.34 by $-0.33. For the latest four quarters through March 31, E.P.S. were $0.37 versus $1.06 for the same period a year ago — a decline of -65%.
Recent Price Action
Adeia Inc (NASDAQ: ADEA) stock rose modestly by 0.6% on 5/6/24. The stock closed at $9.99. This advance was accompanied by normal trading volume. Relative to the market the stock has been strong over the last nine months but has declined -1.4% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to exceed the cost of capital, ADEA is expected to continue to be a major Value Builder.
Adeia has a current Value Trend Rating of C (High Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing consistent signals. Adeia has a neutral Appreciation Score of 52 and a slightly positive Power Rating of 63, triggering the High Neutral Value Trend Rating.
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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