Zacks: Brokerages Expect Coherent, Inc. (COHR) Will Announce Earnings of $3.58 Per Share

Equities research analysts expect Coherent, Inc. (NASDAQ:COHR) to announce earnings per share (EPS) of $3.58 for the current quarter, Zacks reports. Two analysts have provided estimates for Coherent’s earnings, with estimates ranging from $3.56 to $3.59. Coherent reported earnings of $3.36 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 6.5%. The business is scheduled to announce its next earnings results on Tuesday, August 7th.

According to Zacks, analysts expect that Coherent will report full year earnings of $14.24 per share for the current financial year, with EPS estimates ranging from $14.17 to $14.30. For the next financial year, analysts forecast that the business will report earnings of $16.62 per share, with EPS estimates ranging from $16.49 to $16.75. Zacks’ EPS averages are a mean average based on a survey of analysts that cover Coherent.

Coherent (NASDAQ:COHR) last announced its earnings results on Tuesday, May 1st. The scientific and technical instruments company reported $3.37 EPS for the quarter, missing the consensus estimate of $3.49 by ($0.12). Coherent had a return on equity of 29.28% and a net margin of 12.65%. The firm had revenue of $481.10 million during the quarter, compared to analyst estimates of $481.82 million. During the same quarter in the previous year, the business earned $2.91 earnings per share. The business’s quarterly revenue was up 13.8% compared to the same quarter last year.

Several brokerages have commented on COHR. BidaskClub cut shares of Coherent from a “hold” rating to a “sell” rating in a report on Thursday, March 29th. Needham & Company LLC decreased their target price on shares of Coherent to $250.00 and set a “buy” rating for the company in a report on Wednesday, May 2nd. Barclays reiterated a “buy” rating and issued a $225.00 target price on shares of Coherent in a report on Thursday, April 12th. They noted that the move was a valuation call. Benchmark reiterated a “buy” rating and issued a $275.00 target price (down from $310.00) on shares of Coherent in a report on Wednesday, May 2nd. Finally, Zacks Investment Research upgraded shares of Coherent from a “sell” rating to a “hold” rating in a report on Monday, April 16th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. Coherent presently has an average rating of “Buy” and a consensus price target of $276.00.

Shares of Coherent traded up $2.01, hitting $154.82, during midday trading on Friday, according to Marketbeat Ratings. The stock had a trading volume of 2,364 shares, compared to its average volume of 615,778. Coherent has a fifty-two week low of $150.05 and a fifty-two week high of $329.00. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of 12.23 and a beta of 0.97. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.10 and a quick ratio of 1.88.

Several hedge funds have recently bought and sold shares of COHR. Carillon Tower Advisers Inc. acquired a new stake in shares of Coherent during the fourth quarter worth approximately $213,124,000. TimesSquare Capital Management LLC boosted its holdings in shares of Coherent by 421.4% during the fourth quarter. TimesSquare Capital Management LLC now owns 372,300 shares of the scientific and technical instruments company’s stock worth $105,071,000 after purchasing an additional 300,900 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Coherent by 146.8% during the fourth quarter. Renaissance Technologies LLC now owns 265,800 shares of the scientific and technical instruments company’s stock worth $75,014,000 after purchasing an additional 158,100 shares during the period. Handelsbanken Fonder AB acquired a new stake in shares of Coherent during the first quarter worth approximately $29,295,000. Finally, State of New Jersey Common Pension Fund D acquired a new stake in shares of Coherent during the first quarter worth approximately $26,236,000. Institutional investors and hedge funds own 98.39% of the company’s stock.

About Coherent

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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Earnings History and Estimates for Coherent (NASDAQ:COHR)

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