Equities research analysts expect Coherent, Inc. (NASDAQ:COHR) to post sales of $310.75 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Coherent’s earnings, with the lowest sales estimate coming in at $309.20 million and the highest estimate coming in at $312.30 million. Coherent posted sales of $320.77 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 3.1%. The business is expected to report its next quarterly earnings report on Wednesday, February 3rd.
According to Zacks, analysts expect that Coherent will report full year sales of $1.35 billion for the current year. For the next fiscal year, analysts expect that the company will report sales of $1.59 billion, with estimates ranging from $1.58 billion to $1.59 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that that provide coverage for Coherent.
Coherent (NASDAQ:COHR) last issued its quarterly earnings results on Tuesday, November 10th. The scientific and technical instruments company reported $1.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.21. Coherent had a positive return on equity of 3.41% and a negative net margin of 33.70%. The company had revenue of $316.75 million for the quarter, compared to the consensus estimate of $310.04 million. During the same quarter in the prior year, the business earned $0.89 EPS. Coherent’s revenue was down 5.6% on a year-over-year basis.
Shares of NASDAQ COHR opened at $120.37 on Thursday. The stock’s 50-day moving average is $121.46 and its two-hundred day moving average is $126.91. The company has a debt-to-equity ratio of 0.44, a current ratio of 4.52 and a quick ratio of 2.93. Coherent has a 1-year low of $78.21 and a 1-year high of $178.08. The company has a market cap of $2.92 billion, a price-to-earnings ratio of -7.00 and a beta of 1.67.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its position in shares of Coherent by 16.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 12,696 shares of the scientific and technical instruments company’s stock valued at $1,663,000 after purchasing an additional 1,808 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Coherent in the 2nd quarter valued at about $221,000. SG Americas Securities LLC acquired a new stake in shares of Coherent in the 2nd quarter valued at about $2,609,000. First Trust Advisors LP boosted its position in shares of Coherent by 35.4% in the 2nd quarter. First Trust Advisors LP now owns 4,913 shares of the scientific and technical instruments company’s stock valued at $644,000 after purchasing an additional 1,284 shares during the period. Finally, Boston Trust Walden Corp boosted its position in shares of Coherent by 8.3% in the 2nd quarter. Boston Trust Walden Corp now owns 202,394 shares of the scientific and technical instruments company’s stock valued at $26,509,000 after purchasing an additional 15,575 shares during the period. Institutional investors and hedge funds own 80.71% of the company’s stock.
Coherent Company Profile
Coherent, Inc provides lasers, laser-based technologies, and laser-based system solutions for a range of scientific, commercial, and industrial applications. It operates in two segments, OEM Laser Sources and Industrial Lasers & Systems. The company designs, manufactures, markets, and services lasers, laser tools, precision optics, and related accessories; and laser measurement and control products.
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