$476.40 Million in Sales Expected for Coherent, Inc. (COHR) This Quarter
Equities research analysts expect Coherent, Inc. (NASDAQ:COHR) to announce $476.40 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Coherent’s earnings. The highest sales estimate is $477.30 million and the lowest is $475.50 million. Coherent reported sales of $248.46 million in the same quarter last year, which indicates a positive year over year growth rate of 91.7%. The business is expected to report its next quarterly earnings report on Wednesday, November 1st.
On average, analysts expect that Coherent will report full-year sales of $476.40 million for the current financial year. For the next year, analysts anticipate that the company will report sales of $1.95 billion per share, with estimates ranging from $1.94 billion to $1.96 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Coherent.
Coherent (NASDAQ:COHR) last released its earnings results on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.45 by $0.09. The business had revenue of $464.10 million during the quarter, compared to the consensus estimate of $466.90 million. Coherent had a net margin of 11.08% and a return on equity of 24.98%. The business’s revenue was up 112.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.07 earnings per share.
COHR has been the subject of a number of research analyst reports. BidaskClub raised shares of Coherent from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Longbow Research reaffirmed a “buy” rating and issued a $325.00 price target on shares of Coherent in a report on Wednesday, June 28th. Needham & Company LLC raised their price target on shares of Coherent from $215.00 to $265.00 and gave the stock a “buy” rating in a report on Wednesday, May 10th. Stifel Nicolaus raised their price target on shares of Coherent from $220.00 to $270.00 and gave the stock a “buy” rating in a report on Wednesday, May 10th. Finally, Benchmark Co. reaffirmed a “buy” rating on shares of Coherent in a report on Wednesday, May 10th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Coherent currently has a consensus rating of “Buy” and a consensus target price of $268.88.
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Coherent (COHR) traded down 1.21% during trading on Tuesday, hitting $221.02. The stock had a trading volume of 173,819 shares. The stock’s 50-day moving average price is $241.26 and its 200-day moving average price is $222.09. Coherent has a 1-year low of $100.01 and a 1-year high of $278.39. The company has a market capitalization of $5.44 billion, a P/E ratio of 33.28 and a beta of 0.72.
In other news, Director Stephen A. Skaggs sold 500 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $217.58, for a total value of $108,790.00. Following the sale, the director now owns 11,500 shares in the company, valued at $2,502,170. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Navellier & Associates Inc raised its stake in Coherent by 12.1% in the second quarter. Navellier & Associates Inc now owns 28,953 shares of the scientific and technical instruments company’s stock worth $6,514,000 after buying an additional 3,116 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Coherent during the second quarter worth $420,000. WINTON GROUP Ltd acquired a new stake in Coherent during the second quarter worth $744,000. Public Employees Retirement System of Ohio raised its stake in Coherent by 1,266.0% in the second quarter. Public Employees Retirement System of Ohio now owns 11,666 shares of the scientific and technical instruments company’s stock worth $2,625,000 after buying an additional 10,812 shares during the last quarter. Finally, Koch Industries Inc. acquired a new stake in Coherent during the second quarter worth $354,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.
Coherent Company Profile
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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