Zacks: Analysts Expect Coherent, Inc. (COHR) to Post $3.42 Earnings Per Share
Equities research analysts expect Coherent, Inc. (NASDAQ:COHR) to announce earnings of $3.42 per share for the current quarter, according to Zacks. Two analysts have issued estimates for Coherent’s earnings, with the lowest EPS estimate coming in at $3.41 and the highest estimate coming in at $3.42. Coherent posted earnings per share of $1.48 in the same quarter last year, which suggests a positive year over year growth rate of 131.1%. The company is scheduled to report its next earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that Coherent will report full year earnings of $11.53 per share for the current year, with EPS estimates ranging from $11.52 to $11.53. For the next financial year, analysts expect that the company will report earnings of $14.19 per share, with EPS estimates ranging from $13.99 to $14.40. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Coherent.
Coherent (NASDAQ:COHR) last announced its quarterly earnings data on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.45 by $0.09. The firm had revenue of $464.10 million during the quarter, compared to analysts’ expectations of $466.90 million. Coherent had a return on equity of 24.98% and a net margin of 11.08%. The business’s revenue for the quarter was up 112.1% on a year-over-year basis. During the same period last year, the company earned $1.07 earnings per share.
Several equities research analysts recently commented on the stock. BidaskClub raised shares of Coherent from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Zacks Investment Research lowered shares of Coherent from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 11th. Needham & Company LLC reissued a “buy” rating and issued a $270.00 price target (up previously from $265.00) on shares of Coherent in a report on Wednesday, August 2nd. Barclays PLC assumed coverage on shares of Coherent in a report on Monday. They issued an “overweight” rating and a $285.00 price target for the company. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $290.00 price target (up previously from $270.00) on shares of Coherent in a report on Friday, June 30th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $268.88.
Shares of Coherent (NASDAQ COHR) traded up 2.14% during mid-day trading on Tuesday, hitting $224.27. 804,408 shares of the stock were exchanged. The company has a market cap of $5.50 billion, a P/E ratio of 33.77 and a beta of 0.72. Coherent has a 52-week low of $100.01 and a 52-week high of $278.39. The stock’s 50-day moving average price is $247.80 and its 200-day moving average price is $215.04.
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In other news, CEO John Ambroseo sold 24,970 shares of the company’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $248.08, for a total transaction of $6,194,557.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen A. Skaggs sold 500 shares of the company’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $249.48, for a total transaction of $124,740.00. Following the sale, the director now directly owns 12,000 shares of the company’s stock, valued at approximately $2,993,760. The disclosure for this sale can be found here. Insiders have sold 34,874 shares of company stock valued at $8,667,703 in the last ninety days. Insiders own 1.40% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. TD Asset Management Inc. acquired a new stake in Coherent during the first quarter worth about $567,000. Marshall Wace North America L.P. acquired a new stake in Coherent during the first quarter worth about $1,597,000. Nationwide Fund Advisors raised its stake in Coherent by 67.6% in the first quarter. Nationwide Fund Advisors now owns 68,463 shares of the scientific and technical instruments company’s stock worth $14,079,000 after buying an additional 27,602 shares during the last quarter. Cornerstone Capital Management Holdings LLC. acquired a new stake in Coherent during the first quarter worth about $1,613,000. Finally, Kornitzer Capital Management Inc. KS raised its stake in Coherent by 125.5% in the first quarter. Kornitzer Capital Management Inc. KS now owns 33,765 shares of the scientific and technical instruments company’s stock worth $6,943,000 after buying an additional 18,790 shares during the last quarter. 92.94% of the stock is owned by institutional investors and hedge funds.
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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