Zacks: Analysts Anticipate Cray Inc. (CRAY) to Announce -$0.53 Earnings Per Share

Wall Street brokerages forecast that Cray Inc. (NASDAQ:CRAY) will post earnings per share (EPS) of ($0.53) for the current quarter, according to Zacks. Two analysts have provided estimates for Cray’s earnings. The lowest EPS estimate is ($0.56) and the highest is ($0.50). Cray posted earnings of ($0.71) per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 25.4%. The firm is expected to issue its next quarterly earnings results on Tuesday, May 1st.

On average, analysts expect that Cray will report full-year earnings of ($0.83) per share for the current year, with EPS estimates ranging from ($0.94) to ($0.71). For the next financial year, analysts expect that the business will post earnings of ($0.22) per share, with EPS estimates ranging from ($0.62) to $0.19. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Cray.

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Cray (NASDAQ:CRAY) last released its earnings results on Thursday, February 15th. The technology company reported $0.22 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.22. The firm had revenue of $166.60 million for the quarter, compared to analysts’ expectations of $164.03 million. Cray had a negative return on equity of 8.51% and a negative net margin of 34.10%. The business’s revenue for the quarter was down 51.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.38 earnings per share.

Several research firms have recently weighed in on CRAY. Craig Hallum upgraded Cray from a “hold” rating to a “buy” rating in a report on Tuesday, November 21st. ValuEngine upgraded Cray from a “sell” rating to a “hold” rating in a report on Tuesday, November 21st. TheStreet cut Cray from a “c-” rating to a “d” rating in a report on Friday, March 2nd. BidaskClub cut Cray from a “hold” rating to a “sell” rating in a report on Wednesday, January 31st. Finally, Zacks Investment Research upgraded Cray from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a report on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. Cray has a consensus rating of “Buy” and an average price target of $27.33.

In related news, SVP Michael Charles Piraino sold 17,500 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $22.02, for a total value of $385,350.00. Following the sale, the senior vice president now directly owns 59,884 shares in the company, valued at $1,318,645.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Peter J. Ungaro sold 80,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $22.14, for a total value of $1,771,200.00. Following the completion of the sale, the chief executive officer now owns 342,207 shares in the company, valued at $7,576,462.98. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 116,400 shares of company stock worth $2,572,539. Company insiders own 4.00% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in Cray in the third quarter valued at approximately $124,000. MainStreet Investment Advisors LLC acquired a new position in Cray in the fourth quarter valued at approximately $242,000. Municipal Employees Retirement System of Michigan lifted its stake in Cray by 57.2% in the third quarter. Municipal Employees Retirement System of Michigan now owns 15,120 shares of the technology company’s stock valued at $294,000 after buying an additional 5,500 shares during the period. Teacher Retirement System of Texas acquired a new position in Cray in the fourth quarter valued at approximately $331,000. Finally, Levin Capital Strategies L.P. lifted its stake in Cray by 31.1% in the fourth quarter. Levin Capital Strategies L.P. now owns 15,082 shares of the technology company’s stock valued at $365,000 after buying an additional 3,580 shares during the period. Institutional investors and hedge funds own 97.10% of the company’s stock.

Shares of Cray (NASDAQ:CRAY) opened at $22.05 on Friday. The firm has a market capitalization of $898.56, a PE ratio of -6.64 and a beta of 1.57. Cray has a twelve month low of $16.50 and a twelve month high of $26.65.

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Cray Company Profile

Cray Inc is engaged in designing, developing, manufacturing, marketing and servicing the high performance computing (HPC) market, primarily categories of systems known as supercomputers. The Company’s segments include Supercomputing, Storage and Data Management, Maintenance and Support, and Engineering Services and Other.

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