Published on 9 May 2024 on Simply Wall St. via Yahoo Finance

Bearish: Analysts Just Cut Their EMCORE Corporation (NASDAQ:EMKR) Revenue and EPS estimates

Today is shaping up negative for EMCORE Corporation (NASDAQ:EMKR) shareholders, with the analysts delivering a substantial negative revision to this year's forecasts. Both revenue and earnings per share (EPS) estimates were cut sharply as the analysts factored in the latest outlook for the business, concluding that they were too optimistic previously.

Following the latest downgrade, the current consensus, from the three analysts covering EMCORE, is for revenues of US$84m in 2024, which would reflect a considerable 14% reduction in EMCORE's sales over the past 12 months. Losses are predicted to fall substantially, shrinking 68% to US$1.84 per share. Yet before this consensus update, the analysts had been forecasting revenues of US$102m and losses of US$1.65 per share in 2024. So there's been quite a change-up of views after the recent consensus updates, with the analysts making a serious cut to their revenue forecasts while also expecting losses per share to increase.