Zacks: Analysts Anticipate Lumentum Holdings Inc (LITE) Will Post Earnings of $1.21 Per Share

Analysts predict that Lumentum Holdings Inc (NASDAQ:LITE) will announce earnings per share (EPS) of $1.21 for the current quarter, according to Zacks. Six analysts have made estimates for Lumentum’s earnings, with estimates ranging from $1.16 to $1.25. Lumentum posted earnings per share of $1.67 in the same quarter last year, which would indicate a negative year-over-year growth rate of 27.5%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, February 5th.

According to Zacks, analysts expect that Lumentum will report full year earnings of $4.30 per share for the current year, with EPS estimates ranging from $3.96 to $4.97. For the next fiscal year, analysts anticipate that the firm will post earnings of $4.91 per share, with EPS estimates ranging from $3.85 to $6.40. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that follow Lumentum.

Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Thursday, November 1st. The technology company reported $1.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.29. Lumentum had a return on equity of 28.74% and a net margin of 21.21%. The business had revenue of $354.00 million for the quarter, compared to analysts’ expectations of $351.21 million. During the same quarter in the previous year, the firm posted $0.43 earnings per share. The company’s revenue was up 45.7% compared to the same quarter last year.

Several research analysts recently commented on the company. Zacks Investment Research cut Lumentum from a “buy” rating to a “hold” rating in a research note on Friday, November 16th. TheStreet cut Lumentum from a “b” rating to a “c+” rating in a research note on Thursday. BidaskClub upgraded Lumentum from a “hold” rating to a “buy” rating in a research note on Friday, November 23rd. Northland Securities restated an “outperform” rating and set a $60.00 price objective on shares of Lumentum in a research note on Tuesday, November 13th. Finally, Barclays restated a “buy” rating and set a $48.00 price objective on shares of Lumentum in a research note on Tuesday, November 13th. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $69.79.

NASDAQ:LITE opened at $44.47 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.88 and a current ratio of 5.52. Lumentum has a one year low of $37.00 and a one year high of $74.40. The stock has a market capitalization of $2.82 billion, a P/E ratio of 13.73, a price-to-earnings-growth ratio of 0.69 and a beta of 0.46.

In other news, Director Penny Herscher sold 1,197 shares of the company’s stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $52.93, for a total transaction of $63,357.21. Following the completion of the transaction, the director now directly owns 34,743 shares of the company’s stock, valued at $1,838,946.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.55% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Lumentum by 2.8% during the third quarter. Vanguard Group Inc. now owns 5,608,582 shares of the technology company’s stock valued at $336,234,000 after purchasing an additional 154,751 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Lumentum by 29.9% during the third quarter. Victory Capital Management Inc. now owns 1,239,431 shares of the technology company’s stock valued at $74,304,000 after purchasing an additional 285,089 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Lumentum by 24.4% during the second quarter. Northern Trust Corp now owns 976,037 shares of the technology company’s stock valued at $56,514,000 after purchasing an additional 191,336 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Lumentum by 5.4% during the third quarter. Dimensional Fund Advisors LP now owns 859,212 shares of the technology company’s stock valued at $51,513,000 after purchasing an additional 44,206 shares during the last quarter. Finally, Eagle Asset Management Inc. grew its holdings in shares of Lumentum by 6.5% during the third quarter. Eagle Asset Management Inc. now owns 850,508 shares of the technology company’s stock valued at $50,987,000 after purchasing an additional 51,728 shares during the last quarter.

About Lumentum

Lumentum Holdings, Inc engages in the manufacture of optical and photonic products enabling optical networking and commercial laser. It operates through the Optical Communications (OpComms) and Commercial Lasers business segments. The OpComms segment includes modules and subsystems to support and maintain customers in the Telecom and Datacom markets.

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