EMCORE Co. (NASDAQ:EMKR) Expected to Post Earnings of -$0.15 Per Share

Wall Street analysts expect EMCORE Co. (NASDAQ:EMKR) to post earnings per share of ($0.15) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for EMCORE’s earnings, with the lowest EPS estimate coming in at ($0.17) and the highest estimate coming in at ($0.13). EMCORE posted earnings of ($0.12) per share during the same quarter last year, which suggests a negative year-over-year growth rate of 25%. The company is scheduled to announce its next earnings report on Tuesday, December 3rd.

According to Zacks, analysts expect that EMCORE will report full year earnings of ($0.50) per share for the current year, with EPS estimates ranging from ($0.51) to ($0.49). For the next fiscal year, analysts anticipate that the firm will report earnings of ($0.13) per share, with EPS estimates ranging from ($0.16) to ($0.09). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for EMCORE.

EMCORE (NASDAQ:EMKR) last announced its earnings results on Thursday, August 8th. The semiconductor company reported ($0.20) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.03). EMCORE had a negative return on equity of 15.41% and a negative net margin of 30.49%. The company had revenue of $17.22 million during the quarter, compared to the consensus estimate of $17.24 million.

A number of equities analysts recently commented on EMKR shares. Northland Securities set a $5.00 target price on EMCORE and gave the stock a “buy” rating in a report on Friday, July 12th. ValuEngine raised EMCORE from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Zacks Investment Research raised EMCORE from a “sell” rating to a “hold” rating in a report on Wednesday, September 11th. Finally, Lake Street Capital set a $5.00 price target on EMCORE and gave the company a “buy” rating in a report on Friday, July 12th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. EMCORE has a consensus rating of “Buy” and a consensus price target of $5.05.

EMCORE stock traded up $0.03 during trading on Thursday, reaching $2.89. The company had a trading volume of 335 shares, compared to its average volume of 56,098. EMCORE has a 52 week low of $2.65 and a 52 week high of $5.46. The firm’s 50-day simple moving average is $2.95 and its 200 day simple moving average is $3.30. The firm has a market capitalization of $85.13 million, a price-to-earnings ratio of -5.46 and a beta of 0.29.

Large investors have recently bought and sold shares of the business. Dougherty Wealth Advisers LLC bought a new stake in EMCORE during the second quarter valued at about $33,000. FNY Investment Advisers LLC bought a new stake in EMCORE during the second quarter valued at about $49,000. Wells Fargo & Company MN raised its holdings in EMCORE by 16.2% during the second quarter. Wells Fargo & Company MN now owns 31,031 shares of the semiconductor company’s stock valued at $102,000 after acquiring an additional 4,333 shares during the period. Ancora Advisors LLC bought a new stake in EMCORE during the second quarter valued at about $164,000. Finally, Connors Investor Services Inc. raised its holdings in EMCORE by 50.0% during the second quarter. Connors Investor Services Inc. now owns 75,000 shares of the semiconductor company’s stock valued at $247,000 after acquiring an additional 25,000 shares during the period. 53.76% of the stock is currently owned by institutional investors and hedge funds.

About EMCORE

EMCORE Corporation, together with its subsidiaries, provides advanced mixed-signal optics products in California. It offers broadband products comprising cable television; laser, receiver, and photodetector component products; radio frequency over glass FTTP products; satellite/microwave communications products; and wireless communications products.

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