Brokerages expect Microvision, Inc. (NASDAQ:MVIS) to announce $5.93 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Microvision’s earnings, with the highest sales estimate coming in at $7.00 million and the lowest estimate coming in at $4.86 million. Microvision posted sales of $2.91 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 103.8%. The firm is expected to announce its next earnings report on Monday, March 5th.
According to Zacks, analysts expect that Microvision will report full year sales of $5.93 million for the current financial year, with estimates ranging from $13.19 million to $13.75 million. For the next year, analysts expect that the company will post sales of $23.27 million per share, with estimates ranging from $21.00 million to $25.54 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Microvision.
Microvision (NASDAQ:MVIS) last issued its quarterly earnings results on Thursday, November 2nd. The electronics maker reported ($0.07) earnings per share for the quarter, hitting the consensus estimate of ($0.07). The business had revenue of $6.09 million during the quarter, compared to the consensus estimate of $5.24 million. Microvision had a negative return on equity of 335.81% and a negative net margin of 193.59%. The company’s quarterly revenue was up 52.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.08) earnings per share.
A number of research firms recently commented on MVIS. HC Wainwright set a $4.00 target price on Microvision and gave the stock a “buy” rating in a report on Thursday, November 16th. Zacks Investment Research downgraded Microvision from a “hold” rating to a “sell” rating in a report on Friday, November 10th. ValuEngine cut Microvision from a “hold” rating to a “sell” rating in a research report on Thursday, November 2nd. Finally, S&P Equity Research boosted their price objective on Microvision from $1.75 to $2.22 in a research report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. Microvision presently has a consensus rating of “Hold” and a consensus price target of $3.34.
Institutional investors have recently made changes to their positions in the company. Voya Investment Management LLC acquired a new position in shares of Microvision in the 2nd quarter valued at $101,000. Rhumbline Advisers acquired a new position in Microvision during the 2nd quarter worth about $139,000. Schwab Charles Investment Management Inc. acquired a new position in Microvision during the 2nd quarter worth about $250,000. California State Teachers Retirement System acquired a new position in Microvision during the 2nd quarter worth about $256,000. Finally, Teachers Advisors LLC acquired a new position in Microvision during the 2nd quarter worth about $256,000. 30.62% of the stock is currently owned by institutional investors and hedge funds.
Microvision (NASDAQ MVIS) traded down $0.04 during trading on Friday, hitting $1.63. The company had a trading volume of 454,480 shares, compared to its average volume of 388,943. Microvision has a 12-month low of $1.15 and a 12-month high of $3.25. The firm has a market capitalization of $131.26, a P/E ratio of -5.09 and a beta of -0.02.
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Microvision Company Profile
Microvision, Inc is a developer of laser beam scanning (LBS) technology. The Company markets its technology under the brand name, PicoP. It has developed PicoP scanning technology that can be adopted by its customers to create high-resolution miniature projection, and three-dimensional sensing and image capture solutions that use laser diodes as the light source.
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