Coherent, Inc. (COHR) Expected to Post Quarterly Sales of $489.15 Million

Analysts expect that Coherent, Inc. (NASDAQ:COHR) will report $489.15 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Coherent’s earnings, with the highest sales estimate coming in at $490.70 million and the lowest estimate coming in at $487.60 million. Coherent posted sales of $464.11 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.4%. The company is scheduled to report its next earnings report on Tuesday, August 7th.

On average, analysts expect that Coherent will report full-year sales of $1.95 billion for the current financial year, with estimates ranging from $1.95 billion to $1.96 billion. For the next fiscal year, analysts forecast that the firm will report sales of $2.13 billion per share, with estimates ranging from $2.07 billion to $2.19 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Coherent.

Coherent (NASDAQ:COHR) last issued its quarterly earnings data on Tuesday, May 1st. The scientific and technical instruments company reported $3.37 EPS for the quarter, missing the Zacks’ consensus estimate of $3.49 by ($0.12). The business had revenue of $481.10 million during the quarter, compared to analyst estimates of $481.82 million. Coherent had a net margin of 12.65% and a return on equity of 29.28%. Coherent’s revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.91 earnings per share.

Several research firms have issued reports on COHR. BidaskClub cut shares of Coherent from a “hold” rating to a “sell” rating in a research note on Thursday, March 29th. Needham & Company LLC decreased their price target on shares of Coherent to $250.00 and set a “buy” rating on the stock in a research note on Wednesday, May 2nd. Barclays reaffirmed a “buy” rating and set a $225.00 price target on shares of Coherent in a research note on Thursday, April 12th. They noted that the move was a valuation call. Benchmark reaffirmed a “buy” rating and set a $275.00 price target (down from $310.00) on shares of Coherent in a research note on Wednesday, May 2nd. Finally, Zacks Investment Research raised shares of Coherent from a “sell” rating to a “hold” rating in a research note on Monday, April 16th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $269.88.

Shares of Coherent traded up $6.29, hitting $156.42, during mid-day trading on Friday, Marketbeat Ratings reports. 546,641 shares of the stock were exchanged, compared to its average volume of 545,936. Coherent has a twelve month low of $145.66 and a twelve month high of $329.00. The stock has a market capitalization of $3.88 billion, a P/E ratio of 12.44 and a beta of 0.97. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.10 and a quick ratio of 1.88.

Several hedge funds have recently made changes to their positions in COHR. California Public Employees Retirement System lifted its holdings in shares of Coherent by 3.3% during the 4th quarter. California Public Employees Retirement System now owns 53,524 shares of the scientific and technical instruments company’s stock worth $15,106,000 after acquiring an additional 1,703 shares during the period. Sei Investments Co. lifted its holdings in shares of Coherent by 51.1% during the 4th quarter. Sei Investments Co. now owns 41,975 shares of the scientific and technical instruments company’s stock worth $11,846,000 after acquiring an additional 14,198 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Coherent by 12.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 40,785 shares of the scientific and technical instruments company’s stock worth $11,510,000 after acquiring an additional 4,612 shares during the period. Arizona State Retirement System lifted its holdings in shares of Coherent by 26.8% during the 4th quarter. Arizona State Retirement System now owns 17,728 shares of the scientific and technical instruments company’s stock worth $5,003,000 after acquiring an additional 3,743 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Coherent by 4.2% during the 4th quarter. Bank of New York Mellon Corp now owns 293,889 shares of the scientific and technical instruments company’s stock worth $82,941,000 after acquiring an additional 11,935 shares during the period. Institutional investors and hedge funds own 98.39% of the company’s stock.

About Coherent

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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Earnings History and Estimates for Coherent (NASDAQ:COHR)

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