Equities research analysts expect Coherent, Inc. (NASDAQ:COHR) to post $2.13 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Coherent’s earnings. The highest EPS estimate is $2.18 and the lowest is $2.07. Coherent posted earnings per share of $3.54 in the same quarter last year, which indicates a negative year-over-year growth rate of 39.8%. The company is expected to report its next earnings report on Wednesday, February 6th.
On average, analysts expect that Coherent will report full year earnings of $10.89 per share for the current financial year, with EPS estimates ranging from $10.49 to $11.28. For the next financial year, analysts forecast that the firm will report earnings of $10.92 per share. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow Coherent.
Coherent (NASDAQ:COHR) last released its earnings results on Tuesday, November 6th. The scientific and technical instruments company reported $3.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.96 by $0.26. The firm had revenue of $461.50 million for the quarter, compared to the consensus estimate of $460.60 million. Coherent had a return on equity of 25.89% and a net margin of 13.00%. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.72 EPS.
COHR has been the topic of several research analyst reports. Longbow Research downgraded Coherent from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 9th. Benchmark cut their price objective on Coherent from $216.00 to $212.00 and set a “buy” rating on the stock in a research report on Wednesday, November 7th. ValuEngine downgraded Coherent from a “hold” rating to a “sell” rating in a research report on Tuesday, October 9th. Berenberg Bank initiated coverage on Coherent in a research report on Wednesday, November 14th. They issued a “buy” rating on the stock. Finally, Northcoast Research downgraded Coherent from a “buy” rating to a “hold” rating in a research report on Monday, October 8th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. Coherent presently has a consensus rating of “Hold” and a consensus target price of $218.00.
In other Coherent news, Director Pamela Fletcher sold 458 shares of the company’s stock in a transaction on Friday, November 9th. The stock was sold at an average price of $132.75, for a total value of $60,799.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.40% of the company’s stock.
A number of institutional investors have recently made changes to their positions in COHR. Toronto Dominion Bank grew its position in shares of Coherent by 326.7% during the 2nd quarter. Toronto Dominion Bank now owns 640 shares of the scientific and technical instruments company’s stock worth $100,000 after buying an additional 490 shares in the last quarter. Focused Wealth Management Inc bought a new position in shares of Coherent during the 3rd quarter worth $115,000. Itau Unibanco Holding S.A. bought a new position in shares of Coherent during the 2nd quarter worth $145,000. Chicago Partners Investment Group LLC grew its position in shares of Coherent by 814.4% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 1,143 shares of the scientific and technical instruments company’s stock worth $179,000 after buying an additional 1,018 shares in the last quarter. Finally, Meristem Family Wealth LLC bought a new position in shares of Coherent during the 3rd quarter worth $201,000.
Shares of Coherent stock opened at $119.71 on Friday. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of 9.18 and a beta of 1.40. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.02 and a current ratio of 3.32. Coherent has a 52 week low of $115.53 and a 52 week high of $329.00.
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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