ttm technologies (ttmi) stock surges as q3 results top estimates

NEW YORK (TheStreet)--
TTM technology shares (TTMI -Get Report)
Soaring 17. 34% to $13.
33 The company posted better News earlier Thursday afternoonthan-
Third quarter performance is expected to be 2016.
After yesterday\'s market close, Costa Mesa, California
Printed circuit board manufacturers reported adjusted earnings of 39 cents per share, exceeding analysts\' estimate of 32 cents per share.
Revenue for the period was $641.
$7 million, analysts expect $641. 3 million.
CEO Tom Edman said in a statement: \"Our third-quarter revenue is in line with our expectations, while profitability is better than forecast, raising revenue to the highest level in years.
\"In turn, the sharp acceleration in the cellular terminal market outweighs the modest decline in the network and communication terminal markets, which indicates the benefits of diversity,\" he added . \".
In the fourth quarter, TTM expects diluted earnings per share to range from 42 cents to 48 cents, earning $0. 65 billion to $0. 69 billion.
Analysts surveyed by FactSet forecast revenue of $0. 672 billion for the current period and earnings per share of 45 cents. More than 2.
So far, 95 million of the company\'s shares have changed. its average 30-Daily turnover 1.
49 million shares.
In addition, the street rating team rated the \"hold\" of the stock as C.
The main factors affecting the rating are mixed.
The company\'s strengths are reflected in a number of areas, such as its strong revenue growth, strong net income growth and good cash flow from operations.
However, the team also found some weaknesses, including the high risk of debt management and the low profit margin.
Recently, the street rating is based on its \"risk-
Adjusted \"12-
Monthly investment horizon
The rating may be different from the opinion of Jim Kramer or the author of this article, not based on news of any day.