Lumentum Holdings Inc (NASDAQ:LITE) Expected to Post Earnings of $1.19 Per Share

Brokerages forecast that Lumentum Holdings Inc (NASDAQ:LITE) will announce earnings of $1.19 per share for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Lumentum’s earnings. The highest EPS estimate is $1.26 and the lowest is $1.12. Lumentum reported earnings per share of $1.31 during the same quarter last year, which would suggest a negative year-over-year growth rate of 9.2%. The company is expected to issue its next quarterly earnings report on Thursday, November 7th.

According to Zacks, analysts expect that Lumentum will report full-year earnings of $4.54 per share for the current year, with EPS estimates ranging from $3.86 to $5.10. For the next year, analysts anticipate that the business will report earnings of $5.40 per share, with EPS estimates ranging from $4.62 to $6.35. Zacks’ earnings per share averages are an average based on a survey of research analysts that cover Lumentum.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.21. Lumentum had a negative net margin of 2.33% and a positive return on equity of 18.19%. The company had revenue of $404.60 million for the quarter, compared to analyst estimates of $383.54 million. During the same period in the prior year, the firm earned $0.95 earnings per share. The business’s revenue for the quarter was up 34.4% compared to the same quarter last year.



Several research firms have issued reports on LITE. Jefferies Financial Group cut their price objective on Lumentum from $75.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, May 21st. DA Davidson set a $75.00 price target on Lumentum and gave the stock a “buy” rating in a research note on Monday, May 20th. Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $70.00 price objective (up from $62.00) on shares of Lumentum in a research note on Friday, August 9th. Barclays raised their target price on Lumentum from $60.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Finally, Craig Hallum lifted their price objective on Lumentum from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. Lumentum presently has an average rating of “Buy” and a consensus price target of $69.13.

In related news, SVP Judy G. Hamel sold 803 shares of Lumentum stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $60.00, for a total value of $48,180.00. Following the transaction, the senior vice president now owns 42,510 shares in the company, valued at approximately $2,550,600. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Matthew Joseph Sepe sold 4,811 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $59.88, for a total transaction of $288,082.68. Following the completion of the transaction, the insider now owns 17,747 shares in the company, valued at approximately $1,062,690.36. The disclosure for this sale can be found here. Company insiders own 0.55% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Private Capital Group LLC lifted its stake in shares of Lumentum by 5,481.8% in the second quarter. Private Capital Group LLC now owns 614 shares of the technology company’s stock worth $36,000 after buying an additional 603 shares in the last quarter. Advisory Services Network LLC raised its holdings in shares of Lumentum by 83.6% during the second quarter. Advisory Services Network LLC now owns 953 shares of the technology company’s stock valued at $51,000 after purchasing an additional 434 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Lumentum by 31.0% during the second quarter. Tower Research Capital LLC TRC now owns 1,633 shares of the technology company’s stock valued at $87,000 after purchasing an additional 386 shares during the last quarter. First Manhattan Co. increased its holdings in Lumentum by 150.0% during the second quarter. First Manhattan Co. now owns 2,500 shares of the technology company’s stock valued at $133,000 after buying an additional 1,500 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in Lumentum by 95.0% during the second quarter. DekaBank Deutsche Girozentrale now owns 2,919 shares of the technology company’s stock valued at $153,000 after buying an additional 1,422 shares during the last quarter. 94.74% of the stock is currently owned by institutional investors and hedge funds.

LITE traded up $1.71 on Monday, reaching $60.32. The company’s stock had a trading volume of 1,242,697 shares, compared to its average volume of 1,623,428. The company has a market capitalization of $4.36 billion, a price-to-earnings ratio of 18.28, a P/E/G ratio of 1.09 and a beta of 1.36. Lumentum has a fifty-two week low of $37.00 and a fifty-two week high of $69.95. The stock has a 50 day moving average of $55.83 and a two-hundred day moving average of $52.72. The company has a quick ratio of 3.76, a current ratio of 4.53 and a debt-to-equity ratio of 0.56.

Lumentum Company Profile

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates through two segments, Optical Communications and Commercial Lasers. The Optical Communications segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and text data over high-capacity fiber optic cables.

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Earnings History and Estimates for Lumentum (NASDAQ:LITE)

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