Equities research analysts forecast that Luminex Co. (NASDAQ:LMNX) will announce $74.00 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Luminex’s earnings, with the highest sales estimate coming in at $74.70 million and the lowest estimate coming in at $73.47 million. Luminex posted sales of $74.14 million in the same quarter last year, which suggests a negative year-over-year growth rate of 0.2%. The business is expected to announce its next quarterly earnings results on Monday, October 29th.
According to Zacks, analysts expect that Luminex will report full year sales of $313.89 million for the current financial year, with estimates ranging from $311.60 million to $315.25 million. For the next financial year, analysts expect that the firm will report sales of $315.36 million, with estimates ranging from $310.96 million to $324.97 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Luminex.
Luminex (NASDAQ:LMNX) last released its earnings results on Monday, August 6th. The medical instruments supplier reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.04). Luminex had a return on equity of 7.44% and a net margin of 10.57%. The company had revenue of $79.60 million during the quarter, compared to analysts’ expectations of $79.66 million. During the same period in the prior year, the company posted $0.26 earnings per share. The company’s revenue was up 4.1% on a year-over-year basis.
A number of research firms have recently commented on LMNX. Jefferies Financial Group reissued a “hold” rating and issued a $27.00 target price on shares of Luminex in a research note on Tuesday, August 7th. ValuEngine raised Luminex from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 19th. Citigroup increased their target price on Luminex from $23.00 to $34.00 and gave the stock a “$33.58” rating in a research note on Monday, July 23rd. Zacks Investment Research cut Luminex from a “buy” rating to a “hold” rating in a research note on Tuesday, July 10th. Finally, BidaskClub cut Luminex from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 22nd. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $28.60.
Institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Luminex during the second quarter valued at $207,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Luminex during the second quarter valued at $214,000. Cubist Systematic Strategies LLC boosted its position in shares of Luminex by 7,572.6% during the second quarter. Cubist Systematic Strategies LLC now owns 7,289 shares of the medical instruments supplier’s stock valued at $215,000 after buying an additional 7,194 shares during the last quarter. OppenheimerFunds Inc. purchased a new stake in shares of Luminex during the second quarter valued at $231,000. Finally, Meeder Asset Management Inc. boosted its position in shares of Luminex by 1,278.2% during the second quarter. Meeder Asset Management Inc. now owns 8,076 shares of the medical instruments supplier’s stock valued at $238,000 after buying an additional 7,490 shares during the last quarter. 82.22% of the stock is currently owned by institutional investors.
NASDAQ LMNX opened at $27.23 on Friday. Luminex has a 12 month low of $18.62 and a 12 month high of $35.37. The firm has a market capitalization of $1.35 billion, a PE ratio of 29.92, a P/E/G ratio of 3.50 and a beta of 0.25.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Friday, September 21st were given a dividend of $0.06 per share. The ex-dividend date was Thursday, September 20th. This represents a $0.24 annualized dividend and a dividend yield of 0.88%. Luminex’s dividend payout ratio (DPR) is presently 26.37%.
Luminex Corporation develops, manufactures, and sells proprietary biological testing technologies and products for the diagnostics, pharmaceutical, and research industries worldwide. Its products include Luminex 100/200 that integrates fluidics, optics, and digital signal processing; FLEXMAP 3D system for use as a general laboratory instrument; MAGPIX system, a multiplexing analyzer for qualitative and quantitative analysis of proteins and nucleic acids; ARIES system, a sample to answer real-time PCR platform; ARIES M1 system, a single-module version of the ARIES System; and VERIGENE system, an automated multiplex-capable system.
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