For its third fiscal quarter (ending September 30), Cadence Design Systems Inc (NASDAQ: CDNS) has reported a -7% decline in E.P.S. from $0.94 a year ago to $0.87 in the current quarter. For the latest four quarters through September 30, E.P.S. were $3.84 versus $3.55 for the same period a year ago — an increase of 8%.
Recent Price Action
Cadence Design Systems Inc (NASDAQ: CDNS) stock declined modestly by -1.8% on 10/28/24. The stock closed at $252.77. Moreover, trading volume in this decline was unusually high at 174% of normal. The stock has been weak relative to the market over the last nine months and has declined -2.2% during the last week.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to be above the cost of capital, CDNS is expected to continue to be a major Value Builder.
Cadence Design Systems has a current Value Trend Rating of F (Lowest Rating). This rating combines inconsistent signals from two proprietary PTR measures of a stock’s attractiveness. Cadence Design Systems has a neutral Power Rating of 40 but a poor Appreciation Score of 22, with the Lowest Value Trend Rating the result.
Rating Review
In light of this new information we are reviewing our current Overall Rating of F. This review will be completed in the next several days.
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