Wall Street brokerages predict that Orbotech Ltd (NASDAQ:ORBK) will report sales of $262.49 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Orbotech’s earnings. The highest sales estimate is $262.58 million and the lowest is $262.40 million. Orbotech posted sales of $245.66 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.9%. The business is expected to report its next earnings report on Wednesday, November 7th.
According to Zacks, analysts expect that Orbotech will report full year sales of $1.04 billion for the current fiscal year, with estimates ranging from $1.03 billion to $1.04 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $1.11 billion, with estimates ranging from $1.10 billion to $1.12 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Orbotech.
Orbotech (NASDAQ:ORBK) last announced its earnings results on Wednesday, August 1st. The electronics maker reported $0.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.07. Orbotech had a net margin of 15.56% and a return on equity of 17.77%. The company had revenue of $267.50 million during the quarter, compared to the consensus estimate of $258.51 million. Orbotech’s revenue for the quarter was up 27.0% on a year-over-year basis.
Several research firms have recently commented on ORBK. Zacks Investment Research downgraded shares of Orbotech from a “buy” rating to a “hold” rating in a research note on Saturday, October 6th. BidaskClub downgraded shares of Orbotech from a “buy” rating to a “hold” rating in a research note on Tuesday, June 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. Orbotech currently has a consensus rating of “Hold” and a consensus price target of $60.43.
NASDAQ:ORBK opened at $55.46 on Friday. Orbotech has a 12 month low of $42.77 and a 12 month high of $65.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.52 and a quick ratio of 2.80. The firm has a market cap of $2.89 billion, a PE ratio of 20.28, a P/E/G ratio of 1.03 and a beta of 0.70.
Several large investors have recently bought and sold shares of the company. We Are One Seven LLC acquired a new stake in shares of Orbotech during the third quarter worth $594,000. Exane Asset Management acquired a new position in Orbotech during the second quarter valued at $1,698,000. Bank of New York Mellon Corp lifted its position in Orbotech by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 170,960 shares of the electronics maker’s stock valued at $10,566,000 after purchasing an additional 2,539 shares during the period. Cowen Inc. lifted its position in Orbotech by 213.1% during the second quarter. Cowen Inc. now owns 407,642 shares of the electronics maker’s stock valued at $25,192,000 after purchasing an additional 277,440 shares during the period. Finally, Jane Street Group LLC lifted its position in Orbotech by 29.2% during the second quarter. Jane Street Group LLC now owns 7,141 shares of the electronics maker’s stock valued at $441,000 after purchasing an additional 1,614 shares during the period. Institutional investors and hedge funds own 70.19% of the company’s stock.
Orbotech Company Profile
Orbotech Ltd. provides yield-enhancing and process-enabling solutions for the manufacture of printed circuit boards (PCBs), flat panel displays (FPDs), semiconductor devices (SDs), and other electronic components in China, Taiwan, North America, Europe, Japan, Korea, and internationally. It operates through three segments: Production Solutions for the Electronics Industry, Solar Energy, and Recognition Software.
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