Wall Street brokerages expect Lumentum Holdings Inc (NASDAQ:LITE) to announce earnings of $0.65 per share for the current quarter, according to Zacks. Six analysts have made estimates for Lumentum’s earnings. The lowest EPS estimate is $0.62 and the highest is $0.69. Lumentum reported earnings of $0.39 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 66.7%. The firm is expected to report its next earnings report on Wednesday, August 8th.
On average, analysts expect that Lumentum will report full-year earnings of $3.53 per share for the current financial year, with EPS estimates ranging from $3.50 to $3.56. For the next financial year, analysts expect that the company will post earnings of $4.16 per share, with EPS estimates ranging from $3.87 to $4.48. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Lumentum.
Lumentum (NASDAQ:LITE) last announced its earnings results on Wednesday, May 2nd. The technology company reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.07. Lumentum had a return on equity of 23.35% and a net margin of 13.63%. The business had revenue of $299.00 million for the quarter, compared to analyst estimates of $292.30 million. During the same quarter last year, the firm earned $0.49 EPS. Lumentum’s revenue for the quarter was up 16.8% compared to the same quarter last year.
A number of equities research analysts recently issued reports on the company. BidaskClub lowered Lumentum from a “buy” rating to a “hold” rating in a research report on Wednesday, May 23rd. Barclays lifted their target price on Lumentum from $67.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, May 2nd. Drexel Hamilton set a $85.00 target price on Lumentum and gave the company a “buy” rating in a research report on Thursday, May 3rd. Rosenblatt Securities set a $80.00 target price on Lumentum and gave the company a “buy” rating in a research report on Wednesday, May 2nd. Finally, UBS Group boosted their price target on Lumentum from $75.00 to $80.00 in a research report on Wednesday, May 2nd. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $81.53.
In other news, CEO Alan S. Lowe sold 11,672 shares of Lumentum stock in a transaction that occurred on Monday, May 21st. The stock was sold at an average price of $63.02, for a total transaction of $735,569.44. Following the completion of the transaction, the chief executive officer now directly owns 208,062 shares in the company, valued at approximately $13,112,067.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Judy G. Hamel sold 541 shares of Lumentum stock in a transaction that occurred on Thursday, May 17th. The stock was sold at an average price of $63.34, for a total value of $34,266.94. The disclosure for this sale can be found here. Insiders have sold a total of 29,440 shares of company stock worth $1,863,478 in the last ninety days. Insiders own 0.76% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Summit Trail Advisors LLC boosted its stake in shares of Lumentum by 4,901.2% during the 1st quarter. Summit Trail Advisors LLC now owns 161,989 shares of the technology company’s stock worth $162,000 after acquiring an additional 158,750 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Lumentum by 1,164.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 3,653 shares of the technology company’s stock worth $178,000 after acquiring an additional 3,364 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Lumentum by 42.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,797 shares of the technology company’s stock worth $186,000 after acquiring an additional 1,135 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Lumentum by 106.7% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,864 shares of the technology company’s stock worth $189,000 after acquiring an additional 1,995 shares during the period. Finally, KBC Group NV bought a new position in shares of Lumentum during the 1st quarter worth approximately $191,000.
Lumentum traded down $2.05, reaching $57.00, during midday trading on Friday, Marketbeat Ratings reports. The stock had a trading volume of 2,133,500 shares, compared to its average volume of 1,133,277. Lumentum has a 1-year low of $41.95 and a 1-year high of $74.40. The firm has a market cap of $3.57 billion, a PE ratio of 35.85, a P/E/G ratio of 1.06 and a beta of 0.06. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.81 and a current ratio of 5.56.
Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. It 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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