Brokerages forecast that Coherent, Inc. (NASDAQ:COHR) will announce earnings of $3.60 per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Coherent’s earnings, with the lowest EPS estimate coming in at $3.59 and the highest estimate coming in at $3.60. Coherent reported earnings per share of $3.36 in the same quarter last year, which suggests a positive year over year growth rate of 7.1%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, August 7th.
According to Zacks, analysts expect that Coherent will report full year earnings of $14.33 per share for the current financial year, with EPS estimates ranging from $14.17 to $14.48. For the next year, analysts forecast that the firm will post earnings of $17.05 per share, with EPS estimates ranging from $16.75 to $17.34. Zacks’ EPS averages are an average based on a survey of research analysts that cover Coherent.
Coherent (NASDAQ:COHR) last posted its quarterly earnings results on Tuesday, May 1st. The scientific and technical instruments company reported $3.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.49 by ($0.12). Coherent had a return on equity of 29.28% and a net margin of 12.65%. The business had revenue of $481.10 million during the quarter, compared to analyst estimates of $481.82 million. During the same quarter last year, the firm posted $2.91 EPS. The company’s quarterly revenue was up 13.8% compared to the same quarter last year.
A number of research analysts have weighed in on the stock. BidaskClub lowered shares of Coherent from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. Needham & Company LLC reiterated a “buy” rating and set a $294.00 target price (down from $330.00) on shares of Coherent in a research report on Thursday, February 8th. Stifel Nicolaus reduced their target price on shares of Coherent from $330.00 to $310.00 and set a “buy” rating on the stock in a research report on Thursday, February 8th. Barclays set a $325.00 target price on shares of Coherent and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Finally, Northcoast Research reiterated a “buy” rating and set a $314.00 target price on shares of Coherent in a research report on Monday, February 12th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. Coherent presently has an average rating of “Buy” and a consensus target price of $284.67.
NASDAQ COHR traded down $12.20 on Friday, hitting $165.91. 1,325,681 shares of the stock were exchanged, compared to its average volume of 536,740. Coherent has a 52-week low of $157.47 and a 52-week high of $329.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.88 and a current ratio of 3.10. The stock has a market cap of $4.42 billion, a price-to-earnings ratio of 13.20 and a beta of 0.98.
Coherent declared that its Board of Directors has authorized a stock buyback plan on Wednesday, February 7th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the scientific and technical instruments company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
A number of hedge funds and other institutional investors have recently made changes to their positions in COHR. Koch Industries Inc. bought a new position in Coherent in the 4th quarter valued at about $315,000. Bank of Montreal Can lifted its holdings in shares of Coherent by 91.9% in the fourth quarter. Bank of Montreal Can now owns 3,351 shares of the scientific and technical instruments company’s stock worth $945,000 after buying an additional 1,605 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Coherent in the fourth quarter worth about $507,000. LPL Financial LLC lifted its holdings in shares of Coherent by 22.1% in the fourth quarter. LPL Financial LLC now owns 4,798 shares of the scientific and technical instruments company’s stock worth $1,354,000 after buying an additional 869 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its holdings in shares of Coherent by 26.3% in the fourth quarter. Macquarie Group Ltd. now owns 13,504 shares of the scientific and technical instruments company’s stock worth $3,811,000 after buying an additional 2,809 shares in the last quarter. Institutional investors and hedge funds own 99.75% of the company’s stock.
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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