Equities research analysts expect EMCORE Co. (NASDAQ:EMKR) to post ($0.08) earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for EMCORE’s earnings. The highest EPS estimate is ($0.07) and the lowest is ($0.09). EMCORE posted earnings per share of $0.13 in the same quarter last year, which indicates a negative year-over-year growth rate of 161.5%. The company is expected to report its next earnings report on Thursday, August 2nd.
On average, analysts expect that EMCORE will report full year earnings of ($0.14) per share for the current financial year, with EPS estimates ranging from ($0.19) to ($0.10). For the next financial year, analysts forecast that the firm will report earnings of $0.20 per share, with EPS estimates ranging from $0.08 to $0.32. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow EMCORE.
EMCORE (NASDAQ:EMKR) last announced its quarterly earnings data on Thursday, May 3rd. The semiconductor company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). The firm had revenue of $18.62 million during the quarter, compared to analyst estimates of $18.78 million. EMCORE had a net margin of 1.44% and a return on equity of 1.72%.
Several analysts recently commented on the company. B. Riley raised EMCORE from a “neutral” rating to a “buy” rating and raised their target price for the stock from $5.75 to $6.00 in a report on Friday, May 4th. Northland Securities raised EMCORE from a “market perform” rating to an “outperform” rating in a report on Monday, March 19th. ValuEngine lowered EMCORE from a “hold” rating to a “sell” rating in a report on Friday, May 4th. Zacks Investment Research raised EMCORE from a “sell” rating to a “hold” rating in a report on Tuesday, April 10th. Finally, TheStreet lowered EMCORE from a “b-” rating to a “c+” rating in a report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. EMCORE has a consensus rating of “Hold” and a consensus target price of $6.33.
A number of institutional investors have recently bought and sold shares of EMKR. Stone Ridge Asset Management LLC acquired a new stake in EMCORE during the fourth quarter worth about $175,000. Connors Investor Services Inc. grew its holdings in EMCORE by 47.2% in the fourth quarter. Connors Investor Services Inc. now owns 31,193 shares of the semiconductor company’s stock valued at $201,000 after purchasing an additional 10,000 shares during the period. Prudential Financial Inc. grew its holdings in EMCORE by 42.3% in the first quarter. Prudential Financial Inc. now owns 53,120 shares of the semiconductor company’s stock valued at $303,000 after purchasing an additional 15,800 shares during the period. Needham Investment Management LLC acquired a new stake in EMCORE in the first quarter valued at approximately $342,000. Finally, Citadel Advisors LLC acquired a new stake in EMCORE in the fourth quarter valued at approximately $371,000. 76.64% of the stock is currently owned by hedge funds and other institutional investors.
EMCORE traded down $0.05, hitting $5.35, during midday trading on Friday, Marketbeat reports. 2,931,942 shares of the company were exchanged, compared to its average volume of 188,717. The firm has a market cap of $148.27 million, a price-to-earnings ratio of 13.72 and a beta of 0.49. EMCORE has a fifty-two week low of $4.40 and a fifty-two week high of $12.20.
EMCORE Corporation, together with its subsidiaries, provides advanced mixed-signal optics products in California. It offers broadband products comprising cable television; laser, receiver, and photodetector component products; radio frequency over glass FTTP products; satellite/microwave communications products; and wireless communications products.
Get a free copy of the Zacks research report on EMCORE (EMKR)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for EMCORE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EMCORE and related companies with MarketBeat.com's FREE daily email newsletter.