Equities research analysts expect Coherent, Inc. (NASDAQ:COHR) to report earnings per share (EPS) of $3.54 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Coherent’s earnings, with estimates ranging from $3.53 to $3.55. Coherent reported earnings per share of $2.57 during the same quarter last year, which indicates a positive year over year growth rate of 37.7%. The company is expected to issue its next earnings report on Tuesday, February 6th.
On average, analysts expect that Coherent will report full year earnings of $15.56 per share for the current fiscal year, with EPS estimates ranging from $15.00 to $16.11. For the next financial year, analysts forecast that the firm will report earnings of $18.53 per share, with EPS estimates ranging from $17.75 to $19.31. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for Coherent.
Coherent (NASDAQ:COHR) last released its quarterly earnings results on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $3.48 by $0.24. Coherent had a return on equity of 28.53% and a net margin of 12.02%. The company had revenue of $490.00 million during the quarter, compared to analysts’ expectations of $475.24 million. During the same quarter in the prior year, the firm posted $1.65 EPS. Coherent’s quarterly revenue was up 97.2% compared to the same quarter last year.
COHR has been the subject of a number of analyst reports. Stifel Nicolaus upped their price target on Coherent from $290.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Benchmark upped their price target on Coherent from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Needham & Company LLC upped their price target on Coherent from $270.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Summit Redstone restated a “buy” rating and issued a $320.00 price target on shares of Coherent in a research report on Saturday, September 23rd. Finally, Northcoast Research restated a “buy” rating and issued a $314.00 price target (up from $311.00) on shares of Coherent in a research report on Tuesday, September 12th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $309.89.
Coherent (NASDAQ:COHR) traded up $2.43 during trading hours on Friday, reaching $288.03. The company’s stock had a trading volume of 426,017 shares, compared to its average volume of 359,343. Coherent has a 52 week low of $132.12 and a 52 week high of $320.73. The company has a current ratio of 3.13, a quick ratio of 2.14 and a debt-to-equity ratio of 0.51. The stock has a market cap of $7,148.62, a price-to-earnings ratio of 24.22 and a beta of 0.81.
In other Coherent news, Director Stephen A. Skaggs sold 500 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $308.97, for a total transaction of $154,485.00. Following the transaction, the director now directly owns 11,000 shares in the company, valued at $3,398,670. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sandeep Vij sold 4,400 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $292.79, for a total value of $1,288,276.00. The disclosure for this sale can be found here. Insiders sold 18,416 shares of company stock valued at $5,490,028 over the last quarter. 1.40% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the business. AXA raised its stake in shares of Coherent by 30.8% in the third quarter. AXA now owns 46,167 shares of the scientific and technical instruments company’s stock valued at $10,857,000 after acquiring an additional 10,867 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in Coherent by 190.8% in the third quarter. Public Employees Retirement System of Ohio now owns 33,923 shares of the scientific and technical instruments company’s stock valued at $7,978,000 after buying an additional 22,257 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Coherent in the third quarter valued at $485,000. Westport Asset Management Inc. purchased a new position in Coherent in the third quarter valued at $588,000. Finally, California Public Employees Retirement System increased its holdings in Coherent by 5.1% in the third quarter. California Public Employees Retirement System now owns 51,821 shares of the scientific and technical instruments company’s stock valued at $12,187,000 after buying an additional 2,521 shares during the last quarter. Institutional investors own 97.06% of the company’s stock.
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Coherent Company Profile
Coherent, Inc is a photonics manufacturer. The Company is engaged in designing, manufacturing, servicing and marketing of lasers and related accessories for a range of scientific, commercial and industrial applications. It operates through two segments: Specialty Lasers and Systems (SLS) and Commercial Lasers and Components (CLC).
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