Newport Corp. Stock Rating Upgraded by TheStreet (NEWP)
The analysts wrote, “Newport (NEWP) has been upgraded by TheStreet Ratings from hold to buy. The company’s strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.”
Newport Corp. (NASDAQ:NEWP) traded down 1.85% during mid-day trading on Wednesday, hitting $18.03. The stock had a trading volume of 90,303 shares. Newport Corp. has a 52-week low of $14.29 and a 52-week high of $21.80. The stock has a 50-day moving average of $18.24 and a 200-day moving average of $18.99. The company has a market cap of $718.6 million and a price-to-earnings ratio of 35.95.
Newport Corp. (NASDAQ:NEWP) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.11. The company had revenue of $146.90 million for the quarter, compared to the consensus estimate of $145.59 million. Analysts expect that Newport Corp. will post $0.95 EPS for the current fiscal year.
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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