Northcoast Research Analysts Raise Earnings Estimates for Coherent, Inc. (COHR)
Coherent, Inc. (NASDAQ:COHR) – Equities research analysts at Northcoast Research increased their Q1 2018 EPS estimates for Coherent in a research note issued to investors on Tuesday. Northcoast Research analyst T. Hayes now forecasts that the scientific and technical instruments company will post earnings per share of $3.27 for the quarter, up from their previous forecast of $2.38. Northcoast Research has a “Buy” rating and a $314.00 price objective on the stock. Northcoast Research also issued estimates for Coherent’s Q2 2018 earnings at $3.42 EPS, Q3 2018 earnings at $4.15 EPS and FY2018 earnings at $15.30 EPS.
COHR has been the topic of several other research reports. Longbow Research reaffirmed a “buy” rating and set a $325.00 target price on shares of Coherent in a report on Monday, June 12th. Benchmark Co. reaffirmed a “buy” rating and set a $290.00 target price (down previously from $295.00) on shares of Coherent in a report on Tuesday, August 8th. Zacks Investment Research lowered shares of Coherent from a “buy” rating to a “hold” rating in a report on Monday, August 7th. ValuEngine raised shares of Coherent from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Finally, BidaskClub lowered shares of Coherent from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $291.88.
Coherent (NASDAQ:COHR) traded up 0.18% during trading on Thursday, reaching $253.64. 65,610 shares of the company traded hands. The firm has a market capitalization of $6.25 billion, a price-to-earnings ratio of 38.19 and a beta of 0.76. The firm’s 50 day moving average price is $232.11 and its 200 day moving average price is $226.11. Coherent has a 12-month low of $100.01 and a 12-month high of $278.39.
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 firm had revenue of $464.10 million during the quarter, compared to analyst estimates of $466.90 million. Coherent had a net margin of 11.08% and a return on equity of 24.98%. Coherent’s quarterly revenue was up 112.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.07 EPS.
In other news, CEO John Ambroseo sold 25,000 shares of the firm’s 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen A. Skaggs sold 500 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was 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 directly owns 11,500 shares of the company’s stock, valued at $2,502,170. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.
Several large investors have recently bought and sold shares of the company. BlackRock Inc. lifted its position in Coherent by 124,951.8% during the 1st quarter. BlackRock Inc. now owns 2,486,029 shares of the scientific and technical instruments company’s stock valued at $511,226,000 after acquiring an additional 2,484,041 shares during the period. OppenheimerFunds Inc. lifted its position in Coherent by 1.3% during the 1st quarter. OppenheimerFunds Inc. now owns 1,063,449 shares of the scientific and technical instruments company’s stock valued at $218,688,000 after acquiring an additional 14,001 shares during the period. Epoch Investment Partners Inc. lifted its position in Coherent by 66.4% during the 2nd quarter. Epoch Investment Partners Inc. now owns 929,623 shares of the scientific and technical instruments company’s stock valued at $209,157,000 after acquiring an additional 370,993 shares during the period. State Street Corp lifted its position in Coherent by 42.3% during the 1st quarter. State Street Corp now owns 766,435 shares of the scientific and technical instruments company’s stock valued at $157,609,000 after acquiring an additional 227,897 shares during the period. Finally, Earnest Partners LLC lifted its position in Coherent by 1.6% during the 2nd quarter. Earnest Partners LLC now owns 630,844 shares of the scientific and technical instruments company’s stock valued at $141,934,000 after acquiring an additional 9,641 shares during the period. 90.23% of the stock is owned by hedge funds and other institutional investors.
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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