Coherent, Inc. (COHR) Expected to Post Quarterly Sales of $476.15 Million

Equities research analysts expect Coherent, Inc. (NASDAQ:COHR) to announce sales of $476.15 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Coherent’s earnings. The highest sales estimate is $477.30 million and the lowest is $475.00 million. Coherent posted sales of $346.07 million in the same quarter last year, which suggests a positive year-over-year growth rate of 37.6%. The firm is scheduled to announce its next earnings results on Tuesday, February 6th.

According to Zacks, analysts expect that Coherent will report full year sales of $476.15 million for the current fiscal year, with estimates ranging from $1.97 billion to $2.03 billion. For the next financial year, analysts forecast that the firm will post sales of $2.22 billion per share, with estimates ranging from $2.18 billion to $2.26 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Coherent.

Coherent (NASDAQ:COHR) last released its quarterly earnings results on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.48 by $0.24. Coherent had a return on equity of 28.53% and a net margin of 12.02%. The business had revenue of $490.00 million during the quarter, compared to analysts’ expectations of $475.24 million. During the same period in the previous year, the business posted $1.65 earnings per share. The firm’s revenue for the quarter was up 97.2% compared to the same quarter last year.

A number of research analysts recently issued reports on COHR shares. Zacks Investment Research raised Coherent from a “hold” rating to a “strong-buy” rating and set a $270.00 price target for the company in a report on Tuesday, October 3rd. Benchmark reissued a “buy” rating and set a $290.00 price objective on shares of Coherent in a report on Thursday, October 12th. Needham & Company LLC boosted their price objective on Coherent from $270.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Stifel Nicolaus boosted their price objective on Coherent from $290.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Finally, Barclays boosted their price objective on Coherent from $285.00 to $315.00 and gave the stock an “overweight” rating in a report on Wednesday, November 8th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $319.22.

Coherent (NASDAQ COHR) traded down $1.66 during trading on Monday, hitting $318.35. The company had a trading volume of 245,300 shares, compared to its average volume of 411,992. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.13 and a quick ratio of 2.14. Coherent has a fifty-two week low of $146.40 and a fifty-two week high of $329.00. The company has a market capitalization of $7,900.00, a PE ratio of 37.85 and a beta of 0.82.

In other news, Director Sandeep Vij sold 4,400 shares of the company’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $292.79, for a total value of $1,288,276.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen A. Skaggs sold 500 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $308.97, for a total value of $154,485.00. Following the completion of the sale, the director now directly owns 11,000 shares of the company’s stock, valued at $3,398,670. The disclosure for this sale can be found here. Insiders have sold a total of 19,788 shares of company stock valued at $5,901,628 over the last three months. Company insiders own 1.40% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Coldstream Capital Management Inc. increased its stake in shares of 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 acquiring an additional 30 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Coherent by 97.0% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,064 shares of the scientific and technical instruments company’s stock valued at $238,000 after acquiring an additional 524 shares during the last quarter. Flinton Capital Management LLC increased its stake in shares of Coherent by 73.8% in the 2nd quarter. Flinton Capital Management LLC now owns 1,168 shares of the scientific and technical instruments company’s stock valued at $263,000 after acquiring an additional 496 shares during the last quarter. Balyasny Asset Management LLC bought a new stake in shares of Coherent in the 2nd quarter valued at about $271,000. Finally, Petrus Trust Company LTA bought a new stake in shares of Coherent in the 2nd quarter valued at about $292,000. 96.46% of the stock is owned by institutional investors.

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About Coherent

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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