Newport Corp. (NEWP) Posts Quarterly Earnings Results, Beats Estimates By $0.18 EPS
Newport Corp. (NASDAQ:NEWP) released its earnings data on Wednesday. The company reported $0.38 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.20 by $0.18, AnalystRatings.NET reports. The company had revenue of $154.20 million for the quarter, compared to the consensus estimate of $144.76 million. During the same quarter in the prior year, the company posted $0.37 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis.
Newport Corp. (NASDAQ:NEWP) traded up 0.95% on Wednesday, hitting $18.15. 42,312 shares of the company’s stock traded hands. Newport Corp. has a 52-week low of $12.81 and a 52-week high of $19.80. The stock has a 50-day moving average of $18.03 and a 200-day moving average of $16.48. The company’s market cap is $710.5 million.
A number of analysts have recently weighed in on NEWP shares. Analysts at Needham & Company raised their price target on shares of Newport Corp. from $19.00 to $22.00 in a research note on Thursday, January 16th. They now have a “buy” rating on the stock. Analysts at Zacks downgraded shares of Newport Corp. from an “outperform” rating to a “neutral” rating in a research note on Tuesday, December 31st. They now have a $19.60 price target on the stock. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $20.20.
Newport Corporation is a supplier of advanced technology products and systems to a range of industries, including scientific research, microelectronics, aerospace and defence/security, life and health sciences, and industrial markets.
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