Cray Inc. (CRAY) Expected to Announce Earnings of -$0.44 Per Share

Equities analysts predict that Cray Inc. (NASDAQ:CRAY) will report earnings of ($0.44) per share for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Cray’s earnings. The lowest EPS estimate is ($0.58) and the highest is ($0.29). Cray posted earnings per share of ($0.33) during the same quarter last year, which indicates a negative year over year growth rate of 33.3%. The firm is scheduled to announce its next earnings results on Monday, October 29th.

On average, analysts expect that Cray will report full-year earnings of ($0.87) per share for the current fiscal year. For the next fiscal year, analysts anticipate that the firm will report earnings of ($0.50) per share, with EPS estimates ranging from ($0.74) to ($0.25). Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Cray.

Cray (NASDAQ:CRAY) last posted its quarterly earnings results on Tuesday, July 31st. The technology company reported ($0.20) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.13. Cray had a negative net margin of 32.22% and a negative return on equity of 8.18%. The firm had revenue of $120.20 million for the quarter, compared to the consensus estimate of $108.68 million. During the same quarter in the previous year, the company earned ($0.20) earnings per share. The business’s revenue was up 38.0% compared to the same quarter last year.

CRAY has been the topic of a number of recent research reports. ValuEngine downgraded shares of Cray from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 30th. Zacks Investment Research downgraded shares of Cray from a “hold” rating to a “sell” rating in a research note on Friday, August 3rd. Finally, BidaskClub downgraded shares of Cray from a “hold” rating to a “sell” rating in a research note on Saturday, August 4th. Two investment analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. Cray presently has a consensus rating of “Hold” and a consensus target price of $31.00.

A number of institutional investors and hedge funds have recently bought and sold shares of CRAY. Contravisory Investment Management Inc. acquired a new stake in Cray during the third quarter worth $114,000. Bank of Montreal Can boosted its stake in shares of Cray by 1,179.7% in the 3rd quarter. Bank of Montreal Can now owns 6,232 shares of the technology company’s stock valued at $134,000 after purchasing an additional 5,745 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Cray in the 2nd quarter valued at $202,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Cray in the 2nd quarter valued at $212,000. Finally, Eqis Capital Management Inc. acquired a new stake in shares of Cray in the 2nd quarter valued at $230,000. Hedge funds and other institutional investors own 96.99% of the company’s stock.

CRAY traded up $0.30 during trading on Monday, reaching $19.19. 252,430 shares of the company’s stock were exchanged, compared to its average volume of 301,940. Cray has a fifty-two week low of $17.90 and a fifty-two week high of $28.60. The company has a market capitalization of $877.78 million, a P/E ratio of -19.00 and a beta of 1.52.

About Cray

Cray Inc, together with its subsidiaries, designs, develops, manufactures, markets, and services computing systems, and data analytics and artificial intelligence solutions. It operates through Supercomputing, Storage and Data Management, Maintenance and Support, and Engineering Services and Other segments.

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