Analysts Anticipate Coherent, Inc. (COHR) to Announce $3.42 Earnings Per Share
Wall Street brokerages predict that Coherent, Inc. (NASDAQ:COHR) will announce earnings of $3.42 per share for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Coherent’s earnings. Coherent posted earnings of $1.65 per share in the same quarter last year, which would suggest a positive year over year growth rate of 107.3%. The business is scheduled to issue its next quarterly earnings report on Wednesday, November 1st.
On average, analysts expect that Coherent will report full-year earnings of $12.26 per share for the current financial year. For the next financial year, analysts anticipate that the business will post earnings of $14.85 per share, with EPS estimates ranging from $14.40 to $15.30. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that cover 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 for the quarter, missing the Thomson Reuters’ consensus estimate of $3.45 by ($0.09). The company 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%. Coherent’s revenue was up 112.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.07 EPS.
COHR has been the topic of several research reports. Longbow Research reiterated a “buy” rating and set a $325.00 price objective on shares of Coherent in a report on Monday, June 12th. BidaskClub lowered shares of Coherent from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. Stifel Nicolaus restated a “buy” rating and issued a $290.00 target price (up previously from $270.00) on shares of Coherent in a report on Friday, June 30th. Susquehanna Bancshares Inc restated a “neutral” rating and issued a $255.00 target price (up previously from $240.00) on shares of Coherent in a report on Friday, June 30th. Finally, ValuEngine lowered shares of Coherent from a “buy” rating to a “hold” rating in a report on Friday, July 14th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $291.88.
In other Coherent news, CEO John Ambroseo sold 25,000 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $250.00, for a total value of $6,250,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen A. Skaggs sold 500 shares of the stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $217.58, for a total transaction of $108,790.00. Following the completion of the sale, the director now owns 11,500 shares of the company’s stock, valued at approximately $2,502,170. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Miles Capital Inc. increased its stake in Coherent by 0.3% in the 1st quarter. Miles Capital Inc. now owns 1,599 shares of the scientific and technical instruments company’s stock valued at $329,000 after buying an additional 5 shares during the last quarter. Teacher Retirement System of Texas increased its stake in Coherent by 0.3% in the 2nd quarter. Teacher Retirement System of Texas now owns 1,966 shares of the scientific and technical instruments company’s stock valued at $442,000 after buying an additional 5 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in Coherent by 3.1% in the 2nd quarter. Coldstream Capital Management Inc. now owns 1,010 shares of the scientific and technical instruments company’s stock valued at $227,000 after buying an additional 30 shares during the last quarter. Bank of Montreal Can increased its stake in Coherent by 11.4% in the 1st quarter. Bank of Montreal Can now owns 812 shares of the scientific and technical instruments company’s stock valued at $167,000 after buying an additional 83 shares during the last quarter. Finally, Creative Planning increased its stake in Coherent by 8.3% in the 2nd quarter. Creative Planning now owns 1,207 shares of the scientific and technical instruments company’s stock valued at $272,000 after buying an additional 92 shares during the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.
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Shares of Coherent (NASDAQ COHR) traded down 1.39% during trading on Thursday, hitting $249.67. The stock had a trading volume of 530,835 shares. The company has a market capitalization of $6.15 billion, a P/E ratio of 37.59 and a beta of 0.76. Coherent has a 1-year low of $100.01 and a 1-year high of $278.39. The firm has a 50-day moving average of $232.11 and a 200 day moving average of $226.11.
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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