Coherent, Inc. (COHR) Expected to Post Quarterly Sales of $477.35 Million
Wall Street brokerages expect that Coherent, Inc. (NASDAQ:COHR) will announce sales of $477.35 million for the current quarter, according to Zacks. Two analysts have provided estimates for Coherent’s earnings. The highest sales estimate is $479.20 million and the lowest is $475.50 million. Coherent reported sales of $248.46 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 92.1%. The company is scheduled to issue its next quarterly earnings results on Wednesday, November 1st.
According to Zacks, analysts expect that Coherent will report full-year sales of $477.35 million for the current fiscal year. For the next year, analysts expect that the company will report sales of $1.96 billion per share, with estimates ranging from $1.94 billion to $1.99 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Coherent.
Coherent (NASDAQ:COHR) last posted its earnings results on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.45 by ($0.09). Coherent had a net margin of 11.08% and a return on equity of 24.98%. The company had revenue of $464.10 million during the quarter, compared to analysts’ expectations of $466.90 million. During the same period in the previous year, the company posted $1.07 EPS. Coherent’s quarterly revenue was up 112.1% compared to the same quarter last year.
Several research firms have weighed in on COHR. Benchmark Co. reiterated a “buy” rating and set a $290.00 price objective on shares of Coherent in a research report on Thursday, October 12th. Zacks Investment Research upgraded shares of Coherent from a “hold” rating to a “strong-buy” rating and set a $270.00 price objective on the stock in a research report on Tuesday, October 3rd. Summit Redstone reiterated a “buy” rating and set a $320.00 price objective on shares of Coherent in a research report on Saturday, September 23rd. Stifel Nicolaus reiterated a “buy” rating and set a $290.00 price objective on shares of Coherent in a research report on Wednesday, September 13th. Finally, Northcoast Research reiterated a “buy” rating and set a $314.00 price objective (up from $311.00) on shares of Coherent in a research report on Tuesday, September 12th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Coherent has a consensus rating of “Buy” and a consensus target price of $293.22.
ILLEGAL ACTIVITY NOTICE: “Coherent, Inc. (COHR) Expected to Post Quarterly Sales of $477.35 Million” was published by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another publication, it was stolen and republished in violation of international copyright and trademark legislation. The correct version of this piece can be accessed at https://www.americanbankingnews.com/2017/10/24/coherent-inc-cohr-expected-to-post-quarterly-sales-of-477-35-million.html.
Shares of Coherent (COHR) traded up 0.75% on Tuesday, hitting $264.38. The company’s stock had a trading volume of 220,254 shares. Coherent has a 52 week low of $100.01 and a 52 week high of $281.00. The company has a market cap of $6.51 billion, a price-to-earnings ratio of 39.80 and a beta of 0.78. The stock’s 50 day moving average is $248.68 and its 200-day moving average is $238.24.
In other Coherent news, Director Stephen A. Skaggs sold 500 shares of Coherent stock in a transaction on 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO John Ambroseo sold 25,000 shares of Coherent stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $250.00, for a total transaction of $6,250,000.00. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.
Large investors have recently modified their holdings of the business. Smithfield Trust Co. acquired a new stake in shares of Coherent during the 2nd quarter valued at $199,000. Daiwa Securities Group Inc. acquired a new stake in shares of Coherent during the 2nd quarter valued at $202,000. WESPAC Advisors LLC acquired a new stake in shares of Coherent during the 2nd quarter valued at $211,000. Penserra Capital Management LLC boosted its stake in shares of Coherent by 4.2% during the 2nd quarter. Penserra Capital Management LLC now owns 5,791 shares of the scientific and technical instruments company’s stock valued at $224,000 after buying an additional 234 shares during the period. Finally, Coldstream Capital Management Inc. boosted its stake in shares of Coherent by 3.1% during 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 period. 90.25% of the stock is owned by 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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Coherent Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coherent Inc. and related companies with MarketBeat.com's FREE daily email newsletter.