Wall Street brokerages forecast that Coherent, Inc. (NASDAQ:COHR) will announce $2.13 earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have provided estimates for Coherent’s earnings, with estimates ranging from $2.07 to $2.18. Coherent posted earnings per share of $3.54 during the same quarter last year, which indicates a negative year over year growth rate of 39.8%. The company is scheduled to announce its next earnings results on Wednesday, February 6th.
According to Zacks, analysts expect that Coherent will report full-year earnings of $10.89 per share for the current fiscal year, with EPS estimates ranging from $10.49 to $11.28. For the next financial year, analysts forecast that the business will post earnings of $10.92 per share. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Coherent.
Coherent (NASDAQ:COHR) last posted its quarterly earnings data on Tuesday, November 6th. The scientific and technical instruments company reported $3.22 earnings per share for the quarter, topping the consensus estimate of $2.96 by $0.26. Coherent had a net margin of 13.00% and a return on equity of 25.89%. The firm had revenue of $461.50 million for the quarter, compared to analysts’ expectations of $460.60 million. During the same period in the previous year, the company posted $3.72 EPS. The company’s quarterly revenue was down 5.9% compared to the same quarter last year.
Several research firms have weighed in on COHR. Vertical Group began coverage on shares of Coherent in a research report on Tuesday, November 27th. They set a “buy” rating on the stock. BidaskClub upgraded shares of Coherent from a “sell” rating to a “hold” rating in a research report on Friday, November 16th. Benchmark lowered their price objective on shares of Coherent from $216.00 to $212.00 and set a “buy” rating on the stock in a research report on Wednesday, November 7th. Stifel Nicolaus set a $185.00 price objective on shares of Coherent and gave the stock a “buy” rating in a research report on Tuesday, October 23rd. Finally, Longbow Research set a $215.00 price objective on shares of Coherent and gave the stock a “buy” rating in a research report on Thursday, August 23rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. Coherent presently has a consensus rating of “Hold” and a consensus target price of $218.00.
NASDAQ COHR opened at $119.71 on Friday. Coherent has a twelve month low of $115.53 and a twelve month high of $329.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.02 and a current ratio of 3.32. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 9.18 and a beta of 1.40.
In other Coherent news, Director Pamela Fletcher sold 458 shares of Coherent stock in a transaction on Friday, November 9th. The shares were sold at an average price of $132.75, for a total transaction of $60,799.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.40% of the company’s stock.
Large investors have recently modified their holdings of the business. Bank of America Corp DE boosted its stake in shares of Coherent by 11.0% during the 2nd quarter. Bank of America Corp DE now owns 176,216 shares of the scientific and technical instruments company’s stock valued at $27,564,000 after buying an additional 17,451 shares during the period. Value Holdings Management CO. LLC boosted its stake in shares of Coherent by 13.4% during the 2nd quarter. Value Holdings Management CO. LLC now owns 33,803 shares of the scientific and technical instruments company’s stock valued at $5,288,000 after buying an additional 4,000 shares during the period. Robecosam AG boosted its stake in shares of Coherent by 75.0% during the 3rd quarter. Robecosam AG now owns 70,000 shares of the scientific and technical instruments company’s stock valued at $12,050,000 after buying an additional 30,000 shares during the period. Brown Advisory Inc. acquired a new stake in shares of Coherent during the 2nd quarter valued at $867,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of Coherent during the 2nd quarter valued at $254,000.
Coherent Company Profile
Coherent, Inc provides lasers and laser-based technology in a range of scientific, commercial, and industrial applications worldwide. It operates through two segments, Specialty Lasers and Systems, and Commercial Lasers and Components. The company designs, manufactures, services, and markets lasers, laser tools, precision optics, and related accessories.
Further Reading: Hedge Funds – Risk or Reward?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Coherent Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coherent and related companies with MarketBeat.com's FREE daily email newsletter.