Brokerages predict that Coherent, Inc. (NASDAQ:COHR) will announce sales of $475.90 million for the current quarter, Zacks reports. Two analysts have provided estimates for Coherent’s earnings, with the lowest sales estimate coming in at $475.00 million and the highest estimate coming in at $476.80 million. Coherent reported sales of $490.30 million during the same quarter last year, which indicates a negative year over year growth rate of 2.9%. The firm is expected to issue its next earnings results on Tuesday, November 6th.
According to Zacks, analysts expect that Coherent will report full year sales of $1.92 billion for the current financial year. For the next year, analysts forecast that the firm will post sales of $1.84 billion, with estimates ranging from $1.80 billion to $1.87 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Coherent.
Coherent (NASDAQ:COHR) last released its quarterly earnings results on Tuesday, July 31st. The scientific and technical instruments company reported $3.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.54 by ($0.03). Coherent had a net margin of 12.84% and a return on equity of 28.01%. The business had revenue of $482.00 million during the quarter, compared to the consensus estimate of $491.31 million. During the same period in the prior year, the firm earned $3.36 earnings per share. The business’s quarterly revenue was up 3.9% compared to the same quarter last year.
COHR has been the subject of a number of research analyst reports. Longbow Research set a $215.00 price target on Coherent and gave the company a “buy” rating in a report on Thursday, August 23rd. Northcoast Research reaffirmed a “buy” rating and issued a $217.00 price target on shares of Coherent in a report on Thursday, August 2nd. Needham & Company LLC cut their price target on Coherent from $205.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, August 1st. Benchmark reaffirmed a “buy” rating and issued a $216.00 price target (down from $242.00) on shares of Coherent in a report on Wednesday, August 1st. Finally, Stifel Nicolaus dropped their price objective on Coherent from $218.00 to $214.00 and set a “buy” rating for the company in a report on Friday, July 27th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $229.57.
Shares of Coherent stock traded up $0.82 during trading on Friday, reaching $132.57. The company’s stock had a trading volume of 720,871 shares, compared to its average volume of 535,189. The company has a quick ratio of 1.87, a current ratio of 3.28 and a debt-to-equity ratio of 0.34. Coherent has a one year low of $130.57 and a one year high of $329.00. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of 10.55 and a beta of 1.04.
In other Coherent news, EVP Mark Stewart Sobey sold 13,000 shares of the business’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $181.86, for a total transaction of $2,364,180.00. Following the completion of the sale, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at approximately $3,252,929.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.97% of the company’s stock.
A number of large investors have recently made changes to their positions in COHR. Cambridge Investment Research Advisors Inc. raised its holdings in Coherent by 57.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 1,332 shares of the scientific and technical instruments company’s stock worth $250,000 after purchasing an additional 487 shares during the last quarter. BlackRock Inc. grew its position in shares of Coherent by 4.6% during the 1st quarter. BlackRock Inc. now owns 2,156,521 shares of the scientific and technical instruments company’s stock worth $404,133,000 after buying an additional 95,035 shares during the period. JPMorgan Chase & Co. grew its position in shares of Coherent by 88.5% during the 1st quarter. JPMorgan Chase & Co. now owns 105,865 shares of the scientific and technical instruments company’s stock worth $19,839,000 after buying an additional 49,709 shares during the period. Sei Investments Co. grew its position in shares of Coherent by 15.0% during the 1st quarter. Sei Investments Co. now owns 48,267 shares of the scientific and technical instruments company’s stock worth $9,046,000 after buying an additional 6,292 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of Coherent by 2.0% during the 1st quarter. Principal Financial Group Inc. now owns 108,638 shares of the scientific and technical instruments company’s stock worth $20,359,000 after buying an additional 2,170 shares during the period. 98.58% of the stock is owned by hedge funds and other institutional investors.
Coherent Company Profile
Coherent, Inc provides lasers and laser-based technology in a range of scientific, commercial, and industrial applications worldwide. It operates through two segments, Specialty Lasers and Systems, and Commercial Lasers and Components. The company designs, manufactures, services, and markets lasers, laser tools, precision optics, and related accessories.
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