Orbotech Ltd (ORBK) Expected to Post Quarterly Sales of $243.20 Million

Wall Street brokerages predict that Orbotech Ltd (NASDAQ:ORBK) will post $256.09 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Orbotech’s earnings. The lowest sales estimate is $256.00 million and the highest is $256.17 million. Orbotech reported sales of $215.04 million during the same quarter last year, which indicates a positive year over year growth rate of 19.1%. The business is expected to issue its next quarterly earnings report on Wednesday, May 2nd.

On average, analysts expect that Orbotech will report full year sales of $256.09 million for the current year, with estimates ranging from $893.98 million to $900.15 million. For the next fiscal year, analysts forecast that the firm will post sales of $1.02 billion per share. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Orbotech.

Orbotech (NASDAQ:ORBK) last issued its quarterly earnings data on Wednesday, February 14th. The electronics maker reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. The company had revenue of $256.90 million during the quarter, compared to analysts’ expectations of $256.02 million. Orbotech had a net margin of 11.89% and a return on equity of 15.72%. Orbotech’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.70 earnings per share.

ORBK has been the subject of several recent analyst reports. ValuEngine cut shares of Orbotech from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. Stifel Nicolaus boosted their price objective on shares of Orbotech from $52.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, November 7th. Needham & Company LLC boosted their price objective on shares of Orbotech from $54.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 7th. BidaskClub raised shares of Orbotech from a “hold” rating to a “buy” rating in a research note on Thursday, January 4th. Finally, Lake Street Capital reaffirmed a “buy” rating and set a $62.00 price objective (up previously from $52.00) on shares of Orbotech in a research note on Monday, January 22nd. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $52.10.

Orbotech (NASDAQ ORBK) opened at $51.06 on Thursday. The company has a market cap of $2,281.65, a P/E ratio of 18.53, a P/E/G ratio of 0.77 and a beta of 0.75. Orbotech has a 12 month low of $28.36 and a 12 month high of $57.09. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.71 and a current ratio of 3.37.

Institutional investors have recently made changes to their positions in the business. FNY Partners Fund LP lifted its position in Orbotech by 106.3% during the third quarter. FNY Partners Fund LP now owns 3,000 shares of the electronics maker’s stock valued at $126,000 after purchasing an additional 1,546 shares during the last quarter. Macquarie Group Ltd. bought a new stake in shares of Orbotech in the 3rd quarter worth approximately $135,000. Buckley Wealth Management LLC bought a new stake in shares of Orbotech in the 4th quarter worth approximately $206,000. Trexquant Investment LP bought a new stake in shares of Orbotech in the 3rd quarter worth approximately $210,000. Finally, Advisor Group Inc. lifted its holdings in shares of Orbotech by 325.1% in the 3rd quarter. Advisor Group Inc. now owns 5,454 shares of the electronics maker’s stock worth $230,000 after acquiring an additional 4,171 shares during the last quarter. Institutional investors and hedge funds own 65.20% of the company’s stock.

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About Orbotech

Orbotech Ltd. is a supplier of yield-enhancing and process-enabling solutions for the manufacture of electronics products. The Company provides cutting-edge solutions for use in the manufacture of printed circuit boards (PCBs), flat panel displays (FPDs) and semiconductor devices (SDs). The Company’s segments include Production Solutions for the Electronics Industry, Solar Energy and Recognition Software.

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