The analysts covering Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) delivered a dose of negativity to shareholders today, by making a substantial revision to their statutory forecasts for this year. Both revenue and earnings per share (EPS) estimates were cut sharply as analysts factored in the latest outlook for the business, concluding that they were too optimistic previously.
Following the latest downgrade, the nine analysts covering Arcturus Therapeutics Holdings provided consensus estimates of US$148m revenue in 2023, which would reflect a sizeable 48% decline on its sales over the past 12 months. Following this this downgrade, earnings are now expected to tip over into loss-making territory, with the analysts forecasting losses of US$1.36 per share in 2023. However, before this estimates update, the consensus had been expecting revenues of US$175m and US$0.54 per share in losses. Ergo, there's been a clear change in sentiment, with the analysts administering a notable cut to this year's revenue estimates, while at the same time increasing their loss per share forecasts.
https://finance.yahoo.com/news/arcturus-therapeutics-holdings-inc-nasdaq-124356971.html
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