Coherent, Inc. (COHR) Expected to Announce Quarterly Sales of $465.85 Million
Analysts expect that Coherent, Inc. (NASDAQ:COHR) will post sales of $465.85 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Coherent’s earnings, with estimates ranging from $465.00 million to $466.70 million. Coherent reported sales of $218.77 million during the same quarter last year, which would indicate a positive year over year growth rate of 112.9%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Tuesday, August 1st.
On average, analysts expect that Coherent will report full-year sales of $465.85 million for the current year, with estimates ranging from $1.69 billion to $1.71 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.95 billion per share, with estimates ranging from $1.93 billion to $1.96 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Coherent.
Coherent (NASDAQ:COHR) last released its quarterly earnings data on Tuesday, May 9th. The scientific and technical instruments company reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.16. The firm had revenue of $422.80 million for the quarter, compared to the consensus estimate of $404.36 million. Coherent had a net margin of 9.84% and a return on equity of 19.66%. The firm’s revenue was up 111.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.04 earnings per share.
Several research analysts have commented on the stock. Benchmark Co. reiterated a “buy” rating and issued a $295.00 target price (up from $275.00) on shares of Coherent in a report on Thursday. ValuEngine cut shares of Coherent from a “buy” rating to a “hold” rating in a report on Friday, July 14th. BidaskClub cut shares of Coherent from a “buy” rating to a “hold” rating in a report on Wednesday, June 28th. Longbow Research reiterated a “buy” rating and issued a $325.00 target price on shares of Coherent in a report on Wednesday, June 28th. Finally, Susquehanna Bancshares Inc reiterated a “neutral” rating and issued a $255.00 target price (up from $240.00) on shares of Coherent in a report on Friday, June 30th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $263.71.
In related news, Director Stephen A. Skaggs sold 500 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $249.48, for a total transaction of $124,740.00. Following the completion of the sale, the director now directly owns 12,000 shares in the company, valued at $2,993,760. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Bret Dimarco sold 2,903 shares of the firm’s stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $225.00, for a total transaction of $653,175.00. Following the sale, the vice president now owns 7,401 shares of the company’s stock, valued at $1,665,225. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,777 shares of company stock valued at $9,320,878. 1.40% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of COHR. State Board of Administration of Florida Retirement System boosted its stake in Coherent by 15.2% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 7,735 shares of the scientific and technical instruments company’s stock valued at $1,063,000 after buying an additional 1,020 shares in the last quarter. FMR LLC raised its position in shares of Coherent by 5,667.7% in the fourth quarter. FMR LLC now owns 178,800 shares of the scientific and technical instruments company’s stock valued at $24,565,000 after buying an additional 175,700 shares during the last quarter. Franklin Resources Inc. acquired a new position in shares of Coherent during the fourth quarter valued at $701,000. Guggenheim Capital LLC acquired a new position in shares of Coherent during the fourth quarter valued at $1,468,000. Finally, Norges Bank acquired a new position in shares of Coherent during the fourth quarter valued at $30,865,000. Institutional investors and hedge funds own 93.26% of the company’s stock.
Coherent (NASDAQ COHR) traded down 0.87% during mid-day trading on Friday, reaching $268.32. 225,269 shares of the company were exchanged. The stock has a market capitalization of $6.61 billion, a P/E ratio of 54.37 and a beta of 0.69. The company’s 50 day moving average price is $246.26 and its 200-day moving average price is $207.08. Coherent has a 12 month low of $92.93 and a 12 month high of $277.90.
Coherent, Inc is a photonics manufacturer. The Company is engaged in designing, manufacturing, servicing and marketing of lasers and related accessories for a range of scientific, commercial and industrial applications. It operates through two segments: Specialty Lasers and Systems (SLS) and Commercial Lasers and Components (CLC).
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