Wall Street brokerages forecast that Coherent, Inc. (NASDAQ:COHR) will post earnings per share (EPS) of $1.54 for the current quarter, according to Zacks. Two analysts have provided estimates for Coherent’s earnings. Coherent posted earnings of $3.37 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 54.3%. The firm is expected to issue its next quarterly earnings results on Tuesday, May 7th.
On average, analysts expect that Coherent will report full-year earnings of $7.77 per share for the current year, with EPS estimates ranging from $7.48 to $8.05. For the next financial year, analysts expect that the business will post earnings of $10.63 per share, with EPS estimates ranging from $10.26 to $11.00. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Coherent.
Coherent (NASDAQ:COHR) last issued its earnings results on Tuesday, January 29th. The scientific and technical instruments company reported $2.09 EPS for the quarter, beating the Zacks’ consensus estimate of $2.07 by $0.02. Coherent had a net margin of 13.33% and a return on equity of 22.05%. The business had revenue of $383.15 million for the quarter, compared to the consensus estimate of $382.65 million.
Several equities research analysts recently issued reports on the stock. BidaskClub raised shares of Coherent from a “hold” rating to a “buy” rating in a research note on Thursday, February 14th. Zacks Investment Research downgraded shares of Coherent from a “hold” rating to a “strong sell” rating in a research note on Monday, February 4th. Benchmark reaffirmed a “buy” rating and set a $162.00 price target (down previously from $212.00) on shares of Coherent in a research note on Wednesday, January 30th. Needham & Company LLC downgraded shares of Coherent from a “buy” rating to a “hold” rating in a research note on Wednesday, January 30th. Finally, Northcoast Research reaffirmed a “hold” rating on shares of Coherent in a research note on Tuesday, January 29th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $175.71.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its position in shares of Coherent by 76.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 8,488 shares of the scientific and technical instruments company’s stock worth $1,462,000 after purchasing an additional 3,667 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Coherent by 42.9% in the 3rd quarter. Nordea Investment Management AB now owns 25,259 shares of the scientific and technical instruments company’s stock valued at $4,350,000 after buying an additional 7,584 shares during the period. US Bancorp DE boosted its holdings in shares of Coherent by 60.8% in the 3rd quarter. US Bancorp DE now owns 7,262 shares of the scientific and technical instruments company’s stock valued at $1,251,000 after buying an additional 2,747 shares during the period. ARS Investment Partners LLC acquired a new position in shares of Coherent in the 3rd quarter valued at about $3,961,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Coherent by 81.8% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 50,000 shares of the scientific and technical instruments company’s stock valued at $8,610,000 after buying an additional 22,500 shares during the period. 96.43% of the stock is owned by institutional investors.
Coherent stock opened at $135.35 on Friday. Coherent has a 12-month low of $90.10 and a 12-month high of $223.67. The firm has a market cap of $3.36 billion, a P/E ratio of 10.38 and a beta of 1.59. The company has a current ratio of 3.26, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31.
Coherent Company Profile
Coherent, Inc provides lasers, laser-based technologies, and laser-based system solutions for a range of scientific, commercial, and industrial applications. It operates through two segments, OEM Laser Sources and Industrial Lasers & Systems. The company designs, manufactures, markets, and services lasers, laser tools, precision optics, and related accessories; and laser measurement and control products.
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