Analysts expect Cree, Inc. (NASDAQ:CREE) to announce earnings per share of ($0.09) for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Cree’s earnings. Cree posted earnings per share of $0.06 in the same quarter last year, which would suggest a negative year-over-year growth rate of 250%. The business is expected to issue its next quarterly earnings report after the market closes on Tuesday, August 22nd.

On average, analysts expect that Cree will report full-year earnings of $0.03 per share for the current year. For the next year, analysts forecast that the business will post earnings of $0.20 per share. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow Cree.

Cree (NASDAQ:CREE) last issued its quarterly earnings data on Tuesday, April 25th. The LED producer reported ($0.11) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by $0.20. Cree had a positive return on equity of 0.33% and a negative net margin of 7.36%. The company had revenue of $341.51 million during the quarter, compared to analysts’ expectations of $339.41 million. During the same quarter last year, the business earned $0.17 earnings per share. The business’s quarterly revenue was down 6.9% on a year-over-year basis.

CREE has been the topic of a number of research analyst reports. Roth Capital restated a “buy” rating and issued a $29.00 target price (up from $27.00) on shares of Cree in a research note on Tuesday, June 20th. Canaccord Genuity reaffirmed a “hold” rating and issued a $23.00 price target on shares of Cree in a research report on Friday, April 21st. BidaskClub raised shares of Cree from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $24.00 price target (down previously from $28.00) on shares of Cree in a research report on Saturday, April 29th. Finally, Cowen and Company reaffirmed a “market perform” rating on shares of Cree in a research report on Wednesday, April 26th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $25.00.

COPYRIGHT VIOLATION NOTICE: “Cree, Inc. (CREE) Expected to Post Earnings of -$0.09 Per Share” was originally reported by American Banking News and is the property of of American Banking News. If you are accessing this piece on another website, it was illegally copied and republished in violation of international copyright & trademark laws. The original version of this piece can be accessed at https://www.americanbankingnews.com/2017/07/27/cree-inc-cree-expected-to-post-earnings-of-0-09-per-share.html.

Shares of Cree (NASDAQ:CREE) traded down 0.83% during mid-day trading on Thursday, reaching $26.29. 746,229 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $25.30 and a 200 day moving average price of $25.54. Cree has a 12-month low of $20.75 and a 12-month high of $31.64. The firm’s market capitalization is $2.56 billion.

Hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC acquired a new stake in Cree during the first quarter worth $134,000. Strs Ohio acquired a new stake in Cree during the second quarter worth $140,000. LS Investment Advisors LLC raised its stake in Cree by 17.9% in the second quarter. LS Investment Advisors LLC now owns 7,643 shares of the LED producer’s stock worth $188,000 after buying an additional 1,160 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Cree during the first quarter worth $249,000. Finally, Wrapmanager Inc. raised its stake in Cree by 10.1% in the first quarter. Wrapmanager Inc. now owns 10,727 shares of the LED producer’s stock worth $287,000 after buying an additional 988 shares during the last quarter. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Cree Company Profile

Cree, Inc is a manufacturer of lighting-class light emitting diode (LED) products, lighting products and semiconductor products for power and radio-frequency (RF) applications. The Company’s products are focused for applications, such as indoor and outdoor lighting, video displays, transportation, electronic signs and signals, power supplies, inverters and wireless systems.

Get a free copy of the Zacks research report on Cree (CREE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Cree Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cree Inc. and related companies with MarketBeat.com's FREE daily email newsletter.