Analysts Expect Lumentum Holdings Inc (NASDAQ:LITE) Will Announce Earnings of $1.20 Per Share

Equities research analysts expect Lumentum Holdings Inc (NASDAQ:LITE) to post $1.20 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Lumentum’s earnings, with estimates ranging from $1.12 to $1.27. Lumentum reported earnings per share of $1.31 in the same quarter last year, which would indicate a negative year-over-year growth rate of 8.4%. The firm is expected to report its next quarterly earnings results before the market opens on Thursday, October 31st.

On average, analysts expect that Lumentum will report full year earnings of $4.41 per share for the current year, with EPS estimates ranging from $3.86 to $4.85. For the next financial year, analysts anticipate that the company will post earnings of $5.19 per share, with EPS estimates ranging from $4.62 to $5.79. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Lumentum.

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

Several research analysts have recently commented on the company. Barclays lifted their target price on Lumentum from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. B. Riley reissued a “buy” rating on shares of Lumentum in a report on Monday, September 23rd. Zacks Investment Research cut Lumentum from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Rosenblatt Securities reissued a “buy” rating and set a $80.00 price target on shares of Lumentum in a report on Tuesday, September 24th. Finally, Craig Hallum lifted their price target on Lumentum from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $69.25.

In other Lumentum news, CEO Alan S. Lowe sold 10,779 shares of Lumentum stock in a transaction on Monday, August 19th. The stock was sold at an average price of $59.87, for a total value of $645,338.73. Following the completion of the transaction, the chief executive officer now directly owns 192,132 shares of the company’s stock, valued at approximately $11,502,942.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Alan S. Lowe sold 2,205 shares of Lumentum stock in a transaction on Friday, August 16th. The shares were sold at an average price of $58.26, for a total value of $128,463.30. Following the completion of the transaction, the chief executive officer now directly owns 192,132 shares of the company’s stock, valued at $11,193,610.32. The disclosure for this sale can be found here. Insiders sold a total of 124,403 shares of company stock valued at $7,092,182 over the last ninety days. Insiders own 0.48% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bridge City Capital LLC raised its holdings in Lumentum by 0.5% in the 2nd quarter. Bridge City Capital LLC now owns 50,443 shares of the technology company’s stock valued at $2,694,000 after acquiring an additional 243 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Lumentum by 0.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 86,808 shares of the technology company’s stock valued at $4,636,000 after acquiring an additional 280 shares in the last quarter. Hayden Royal LLC raised its holdings in Lumentum by 8.0% in the 2nd quarter. Hayden Royal LLC now owns 4,050 shares of the technology company’s stock valued at $215,000 after acquiring an additional 300 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Lumentum by 7.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,239 shares of the technology company’s stock valued at $281,000 after acquiring an additional 365 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Lumentum by 31.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,633 shares of the technology company’s stock worth $87,000 after buying an additional 386 shares in the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ LITE traded down $0.27 during midday trading on Friday, hitting $54.87. 583,600 shares of the company’s stock were exchanged, compared to its average volume of 1,501,445. 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 has a 12 month low of $37.00 and a 12 month high of $63.94. The company’s 50 day moving average price is $55.30 and its 200 day moving average price is $54.47. The firm has a market capitalization of $4.26 billion, a PE ratio of 16.63, a price-to-earnings-growth ratio of 1.49 and a beta of 1.35.

About Lumentum

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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