Coherent (NASDAQ:COHR) Issues Quarterly Earnings Results, Misses Estimates By $0.58 EPS

Coherent (NASDAQ:COHRGet Rating) announced its earnings results on Wednesday. The scientific and technical instruments company reported $1.70 earnings per share for the quarter, missing the consensus estimate of $2.28 by ($0.58), MarketWatch Earnings reports. Coherent had a net margin of 7.47% and a return on equity of 15.99%.

COHR stock traded up $2.15 during trading on Friday, hitting $269.42. The stock had a trading volume of 177,953 shares, compared to its average volume of 252,832. Coherent has a 1-year low of $222.04 and a 1-year high of $278.34. The company’s 50 day moving average price is $267.45 and its two-hundred day moving average price is $263.13. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.14 and a current ratio of 3.28. The stock has a market cap of $6.67 billion, a price-to-earnings ratio of 58.19 and a beta of 1.31.

Separately, StockNews.com started coverage on shares of Coherent in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Six research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $272.00.

Several hedge funds and other institutional investors have recently bought and sold shares of COHR. Morgan Stanley increased its stake in shares of Coherent by 102.2% during the 2nd quarter. Morgan Stanley now owns 289,118 shares of the scientific and technical instruments company’s stock valued at $76,426,000 after acquiring an additional 146,138 shares during the last quarter. Barclays PLC increased its stake in shares of Coherent by 25.9% during the 4th quarter. Barclays PLC now owns 64,849 shares of the scientific and technical instruments company’s stock valued at $17,285,000 after acquiring an additional 13,336 shares during the last quarter. Squarepoint Ops LLC increased its stake in shares of Coherent by 101.0% during the 4th quarter. Squarepoint Ops LLC now owns 3,184 shares of the scientific and technical instruments company’s stock valued at $849,000 after acquiring an additional 1,600 shares during the last quarter. Cubist Systematic Strategies LLC increased its stake in shares of Coherent by 94.0% during the 4th quarter. Cubist Systematic Strategies LLC now owns 3,032 shares of the scientific and technical instruments company’s stock valued at $808,000 after acquiring an additional 1,469 shares during the last quarter. Finally, CIBC World Markets Inc. acquired a new position in shares of Coherent during the 4th quarter valued at about $204,000. 90.29% of the stock is owned by institutional investors.

Coherent Company Profile (Get Rating)

Coherent, Inc provides lasers, laser-based technologies, and laser-based system solutions for a range of commercial, industrial, and scientific research applications. It operates in two segments, Original Equipment Manufacturers (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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Earnings History for Coherent (NASDAQ:COHR)

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