Cree (NASDAQ:CREE) updated its third quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of ($0.03)-$0.03 for the period, compared to the Thomson Reuters consensus estimate of $0.00. The company issued revenue guidance of $335-355 million, compared to the consensus revenue estimate of $340.73 million.
A number of research firms have commented on CREE. TheStreet upgraded Cree from a d+ rating to a c- rating in a research report on Wednesday, September 27th. Roth Capital downgraded Cree from a buy rating to a neutral rating and set a $35.00 target price on the stock. in a research report on Tuesday. Tigress Financial downgraded Cree from a strong-buy rating to a neutral rating in a research report on Tuesday. Oppenheimer restated a hold rating on shares of Cree in a research report on Wednesday, October 18th. Finally, Piper Jaffray Companies began coverage on Cree in a research report on Wednesday, December 20th. They issued a neutral rating and a $37.00 target price on the stock. Eight equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $28.18.
Cree (NASDAQ:CREE) traded down $1.67 during mid-day trading on Tuesday, hitting $35.02. The company had a trading volume of 3,020,000 shares, compared to its average volume of 1,100,000. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.82 and a quick ratio of 3.61. The stock has a market cap of $3,440.00, a P/E ratio of -28.70 and a beta of 1.26. Cree has a 52-week low of $20.50 and a 52-week high of $40.24.
COPYRIGHT VIOLATION WARNING: “Cree (CREE) Releases Q3 Earnings Guidance” was first posted by American Banking News and is the property of of American Banking News. If you are viewing this story on another website, it was copied illegally and republished in violation of United States & international copyright & trademark law. The original version of this story can be accessed at https://www.americanbankingnews.com/2018/01/23/cree-cree-releases-q3-earnings-guidance.html.
Cree Company Profile
Cree, Inc is a manufacturer of lighting-class light emitting diode (LED) products, lighting products and semiconductor products for power and radio-frequency (RF) applications. The Company’s products are focused for applications, such as indoor and outdoor lighting, video displays, transportation, electronic signs and signals, power supplies, inverters and wireless systems.
Receive News & Ratings for Cree Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cree and related companies with MarketBeat.com's FREE daily email newsletter.