$330.85 Million in Sales Expected for Coherent, Inc. (NASDAQ:COHR) This Quarter


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Equities research analysts predict that Coherent, Inc. (NASDAQ:COHR) will announce sales of $330.85 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Coherent’s earnings. The lowest sales estimate is $330.00 million and the highest is $331.70 million. Coherent reported sales of $293.15 million in the same quarter last year, which would suggest a positive year over year growth rate of 12.9%. The firm is expected to report its next earnings results on Wednesday, May 26th.

On average, analysts expect that Coherent will report full year sales of $1.40 billion for the current fiscal year, with estimates ranging from $1.39 billion to $1.41 billion. For the next year, analysts anticipate that the company will report sales of $1.67 billion, with estimates ranging from $1.66 billion to $1.68 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Coherent.

Coherent (NASDAQ:COHR) last released its quarterly earnings data on Tuesday, February 9th. The scientific and technical instruments company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.20. The firm had revenue of $326.05 million during the quarter, compared to the consensus estimate of $318.22 million. Coherent had a positive return on equity of 3.41% and a negative net margin of 33.70%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 earnings per share.

A number of equities analysts have commented on COHR shares. Barclays upgraded shares of Coherent from an “underweight” rating to an “equal weight” rating in a report on Wednesday, January 20th. TheStreet upgraded shares of Coherent from a “d+” rating to a “c-” rating in a report on Friday, January 29th. Zacks Investment Research downgraded shares of Coherent from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 13th. Benchmark downgraded shares of Coherent from a “buy” rating to a “hold” rating in a report on Thursday, February 11th. Finally, Berenberg Bank downgraded shares of Coherent from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a report on Thursday, January 21st. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Coherent presently has a consensus rating of “Hold” and an average price target of $183.56.

Shares of COHR stock traded down $1.11 on Tuesday, hitting $264.46. The stock had a trading volume of 264,942 shares, compared to its average volume of 553,229. The company has a market cap of $6.47 billion, a PE ratio of -15.38 and a beta of 1.54. The company has a quick ratio of 2.93, a current ratio of 4.52 and a debt-to-equity ratio of 0.44. The business has a 50 day moving average price of $255.55 and a 200 day moving average price of $182.49. Coherent has a one year low of $103.00 and a one year high of $270.53.

Several hedge funds have recently modified their holdings of the company. Vantage Consulting Group Inc purchased a new stake in Coherent in the fourth quarter valued at approximately $32,000. Tompkins Financial Corp purchased a new stake in Coherent in the fourth quarter valued at approximately $49,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Coherent in the fourth quarter valued at approximately $105,000. Clear Street Markets LLC purchased a new stake in Coherent in the first quarter valued at approximately $322,000. Finally, Pinnacle Associates Ltd. purchased a new stake in Coherent in the fourth quarter valued at approximately $210,000. Institutional investors and hedge funds own 91.82% of the company’s stock.

Coherent Company Profile

Coherent, Inc provides lasers, laser-based technologies, and laser-based system solutions for a range of scientific, commercial, and industrial research applications. It operates in 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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