Coherent (COHR) Announces Quarterly Earnings, Misses Expectations By $0.07 EPS
Coherent (NASDAQ:COHR) issued its quarterly earnings data on Wednesday. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by $0.07, American Banking News reports. The company had revenue of $196.52 million for the quarter, compared to the consensus estimate of $201.20 million. During the same quarter in the previous year, the company posted $0.91 earnings per share. The company’s revenue for the quarter was down 8.1% on a year-over-year basis.
On a related note, analysts at Needham & Company LLC cut their price target on shares of Coherent from $86.00 to $76.00 in a research note on Thursday, May 1st. They now have a “buy” rating on the stock. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $74.02.
Coherent (NASDAQ:COHR) traded up 0.25% on Wednesday, hitting $59.98. 87,153 shares of the company’s stock traded hands. Coherent has a one year low of $55.09 and a one year high of $76.98. The stock has a 50-day moving average of $63.51 and a 200-day moving average of $64.5. The company has a market cap of $1.495 billion and a P/E ratio of 23.23.
Coherent, Inc (NASDAQ:COHR) is a suppliers of photonics-based solutions in a range of commercial and scientific research applications.
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