Analysts Anticipate Cray Inc. (CRAY) Will Post Earnings of -$0.35 Per Share

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Analysts forecast that Cray Inc. (NASDAQ:CRAY) will report earnings of ($0.35) per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Cray’s earnings, with estimates ranging from ($0.39) to ($0.30). Cray posted earnings of ($0.20) per share in the same quarter last year, which would suggest a negative year over year growth rate of 75%. The business is scheduled to issue its next earnings report on Thursday, July 26th.

On average, analysts expect that Cray will report full-year earnings of ($0.93) per share for the current financial year, with EPS estimates ranging from ($1.07) to ($0.78). For the next fiscal year, analysts forecast that the business will report earnings of ($0.17) per share, with EPS estimates ranging from ($0.68) to $0.34. Zacks’ EPS calculations are a mean average based on a survey of research firms that follow Cray.

Cray (NASDAQ:CRAY) last released its earnings results on Tuesday, May 1st. The technology company reported ($0.53) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.04. Cray had a negative net margin of 33.80% and a negative return on equity of 7.55%. The company had revenue of $79.60 million for the quarter, compared to analysts’ expectations of $50.08 million. During the same quarter in the previous year, the company earned ($0.71) EPS. Cray’s revenue for the quarter was up 34.9% on a year-over-year basis.

A number of research analysts recently weighed in on the stock. ValuEngine upgraded shares of Cray from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 11th. TheStreet cut shares of Cray from a “c-” rating to a “d” rating in a research note on Friday, March 2nd. BidaskClub cut shares of Cray from a “sell” rating to a “strong sell” rating in a research note on Friday, March 30th. Craig Hallum set a $30.00 target price on shares of Cray and gave the company a “buy” rating in a research note on Tuesday, March 6th. Finally, Wells Fargo & Co lifted their target price on shares of Cray from $30.00 to $35.00 and gave the company an “outperform” rating in a research note on Wednesday, May 2nd. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Cray has a consensus rating of “Buy” and a consensus price target of $30.00.

Cray opened at $24.60 on Wednesday, according to Marketbeat. Cray has a fifty-two week low of $17.35 and a fifty-two week high of $28.60. The firm has a market cap of $1.01 billion, a P/E ratio of -24.36 and a beta of 1.54.

In other Cray news, Director Stephen C. Kiely sold 4,350 shares of the business’s stock in a transaction on Friday, May 4th. The shares were sold at an average price of $27.05, for a total value of $117,667.50. Following the sale, the director now owns 6,286 shares in the company, valued at approximately $170,036.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.10% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. lifted its stake in Cray by 19.2% in the 1st quarter. Russell Investments Group Ltd. now owns 14,269 shares of the technology company’s stock worth $295,000 after purchasing an additional 2,300 shares in the last quarter. Levin Capital Strategies L.P. lifted its stake in Cray by 16.6% in the 1st quarter. Levin Capital Strategies L.P. now owns 17,582 shares of the technology company’s stock worth $364,000 after purchasing an additional 2,500 shares in the last quarter. Raymond James & Associates lifted its stake in Cray by 11.9% in the 4th quarter. Raymond James & Associates now owns 24,030 shares of the technology company’s stock worth $582,000 after purchasing an additional 2,555 shares in the last quarter. Great West Life Assurance Co. Can lifted its stake in Cray by 4.9% in the 1st quarter. Great West Life Assurance Co. Can now owns 54,587 shares of the technology company’s stock worth $1,130,000 after purchasing an additional 2,559 shares in the last quarter. Finally, First Washington CORP lifted its stake in Cray by 1.4% in the 1st quarter. First Washington CORP now owns 230,990 shares of the technology company’s stock worth $4,781,000 after purchasing an additional 3,110 shares in the last quarter. Institutional investors and hedge funds own 99.37% of the company’s stock.

Cray Company Profile

Cray Inc, together with its subsidiaries, designs, develops, manufactures, markets, and services computing systems, and data analytics and artificial intelligence solutions. It operates through Supercomputing, Storage and Data Management, Maintenance and Support, and Engineering Services and Other segments.

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