Northcoast Research Weighs in on Coherent, Inc.’s Q1 2019 Earnings (COHR)

Coherent, Inc. (NASDAQ:COHR) – Stock analysts at Northcoast Research upped their Q1 2019 earnings estimates for Coherent in a research note issued on Monday. Northcoast Research analyst T. Hayes now expects that the scientific and technical instruments company will post earnings per share of $4.40 for the quarter, up from their prior forecast of $4.30. Northcoast Research currently has a “Buy” rating and a $314.00 target price on the stock. Northcoast Research also issued estimates for Coherent’s Q2 2019 earnings at $4.25 EPS, Q3 2019 earnings at $4.77 EPS, Q4 2019 earnings at $5.08 EPS and FY2019 earnings at $18.50 EPS.

Coherent (NASDAQ:COHR) last posted its earnings results on Wednesday, February 7th. The scientific and technical instruments company reported $3.54 earnings per share for the quarter, topping the consensus estimate of $3.52 by $0.02. The firm had revenue of $477.60 million during the quarter, compared to the consensus estimate of $474.21 million. Coherent had a net margin of 11.79% and a return on equity of 29.82%. The company’s revenue was up 38.0% on a year-over-year basis. During the same quarter last year, the company earned $2.57 earnings per share.

Several other equities analysts also recently weighed in on COHR. Barclays set a $325.00 target price on shares of Coherent and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Stifel Nicolaus reduced their target price on shares of Coherent from $330.00 to $310.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. Zacks Investment Research downgraded shares of Coherent from a “hold” rating to a “sell” rating in a research note on Monday. Benchmark lifted their target price on shares of Coherent from $290.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $294.00 target price (down previously from $330.00) on shares of Coherent in a research note on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $312.22.

Coherent (NASDAQ:COHR) traded down $0.66 on Tuesday, hitting $208.95. 870,700 shares of the stock traded hands, compared to its average volume of 681,713. The stock has a market capitalization of $5,040.00, a P/E ratio of 23.08 and a beta of 0.65. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.18 and a quick ratio of 2.08. Coherent has a 52-week low of $179.60 and a 52-week high of $329.00.

Coherent announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 7th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the scientific and technical instruments company to repurchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

In other news, EVP Paul F. Sechrist sold 1,002 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $288.88, for a total value of $289,457.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paul F. Sechrist sold 1,372 shares of the firm’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $300.00, for a total transaction of $411,600.00. Following the completion of the transaction, the executive vice president now owns 2,497 shares of the company’s stock, valued at $749,100. The disclosure for this sale can be found here. Insiders sold 7,874 shares of company stock valued at $2,382,958 over the last 90 days. 0.97% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Oakbrook Investments LLC boosted its position in shares of Coherent by 7.0% in the fourth quarter. Oakbrook Investments LLC now owns 2,435 shares of the scientific and technical instruments company’s stock valued at $687,000 after acquiring an additional 160 shares during the period. Dynamic Technology Lab Private Ltd lifted its position in Coherent by 10.3% during the third quarter. Dynamic Technology Lab Private Ltd now owns 2,060 shares of the scientific and technical instruments company’s stock valued at $485,000 after purchasing an additional 193 shares during the last quarter. Amalgamated Bank lifted its position in Coherent by 5.5% during the fourth quarter. Amalgamated Bank now owns 5,141 shares of the scientific and technical instruments company’s stock valued at $1,451,000 after purchasing an additional 270 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its position in Coherent by 12.8% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,980 shares of the scientific and technical instruments company’s stock valued at $701,000 after purchasing an additional 337 shares during the last quarter. Finally, UBS Asset Management Americas Inc. lifted its position in Coherent by 1.7% during the fourth quarter. UBS Asset Management Americas Inc. now owns 20,274 shares of the scientific and technical instruments company’s stock valued at $5,722,000 after purchasing an additional 342 shares during the last quarter. Institutional investors own 95.70% of the company’s stock.

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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).

Earnings History and Estimates for Coherent (NASDAQ:COHR)

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