Keysight Technologies (NYSE: KEYS), a manufacturer of electronic tests and measurement equipment, plummeted at the time of writing on Friday after the company’s outlook left investors disappointed. Keysight expects revenues to be in the range of $1.29 billion to $1.31 billion in its fourth quarter. However, this fell short of analysts’ estimates calling for $1.39 billion. Furthermore, adjusted earnings are forecasted to be in the range of $1.83 to $1.89, which is also lower than Street estimates of $2 per share.
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For Fiscal Year 2023, management has projected revenue of $5.45 billion versus Street estimates of $5.55 billion. On the other hand, earnings are expected to be $8.19 per share (at the midpoint) versus analysts’ estimates of $8.17 per share.
The company reported fiscal Q3 adjusted earnings of $2.19 per share, up by 8.95% year-over-year and beating Street estimates of $1.95 per share. Meanwhile, its revenues remained flat at $1.38 billion. For reference, analysts were expecting $1.37 billion in sales.
Analysts are cautiously optimistic about KEYS stock, with a Moderate Buy consensus rating based on three Buys and three Holds each.
