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S&P 500 (NYSE:SPY) component Boston Scientific Corp. (NYSE:BSX) will unveil its latest earnings on Thursday, April 19, 2012. Boston Scientific provides devices used in medical procedures related to disciplines such as cardiology, endoscopy, gynecology, and electrophysiology.
Boston Scientific Corp. Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for net income of 8 cents per share, a decline of 42.9% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 11 cents. Between one and three months ago, the average estimate moved down. It has been unchanged at 8 cents during the last month. Analysts are projecting profit to rise by 16.3% compared to last year’s 41 cents.
Past Earnings Performance: Last quarter, the company beat estimates by one cent, coming in at profit of 9 cents a share versus the estimate of net income of 8 cents a share. It marked the fourth straight quarter of beating estimates.
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Wall St. Revenue Expectations: Analysts predict a decline of 3.1% in revenue from the year-earlier quarter to $1.86 billion.
Analyst Ratings: Analysts seem relatively indifferent about Boston Scientific with 15 of 23 analysts surveyed maintaining a hold rating.
A Look Back: In the fourth quarter of the last fiscal year, profit fell 54.7% to $107 million (7 cents a share) from $236 million (16 cents a share) the year earlier, but exceeded analyst expectations. Revenue fell 7.7% to $1.85 billion from $2 billion.
On the top line, the company is hoping to use this earnings announcement to snap a string of two-straight quarters of revenue declines. Revenue fell 2.2% in the third quarter of the last fiscal year and dropped again in the fourth quarter of the last fiscal year of the last fiscal year.
Stock Price Performance: Between March 15, 2012 and April 13, 2012, the stock price dropped 38 cents (-6.3%), from $6 to $5.62. The stock price saw one of its best stretches over the last year between May 23, 2011 and May 31, 2011, when shares rose for six straight days, increasing 9.3% (+61 cents) over that span. It saw one of its worst periods between November 11, 2011 and November 21, 2011 when shares fell for seven straight days, dropping 10.2% (-60 cents) over that span.
(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)
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