Benzinga | Dec 6, 2021 10:25AM EST

Earnings Preview: Avid Bioservices

Avid Bioservices (NASDAQ:CDMO) is set to give its latest quarterly earnings report on Tuesday, 2021-12-07. Here's what investors need to know before the announcement.

Analysts estimate that Avid Bioservices will likely report an Earnings Per Share (EPS) of $0.02.

Avid Bioservices bulls will hope to hear the company to announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

Historical Earnings Performance

Last quarter the company beat EPS by $0.06, which was followed by a 12.05% drop in the share price the next day.

Here's a look at Avid Bioservices's past performance and the resulting price change:

Quarter Q1 2022 Q4 2021 Q3 2021 Q2 2021EPS Estimate 0.04 -0.03 -0.06EPS Actual 0.10 -0.04 0.01 0.01Price Change % -12.05% 6.56% -8.67% 16.42%

Stock Performance

Shares of Avid Bioservices were trading at $28.91 as of December 03. Over the last 52-week period, shares are up 160.45%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release.

If you want to track all upcoming earnings announcements, check out our Earnings Calendar here