Equities research analysts forecast that Luminar Technologies, Inc. (NASDAQ:LAZR) will post ($0.06) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Luminar Technologies’ earnings. The lowest EPS estimate is ($0.07) and the highest is ($0.05). The firm is scheduled to report its next quarterly earnings report on Monday, January 1st.
On average, analysts expect that Luminar Technologies will report full-year earnings of ($0.23) per share for the current financial year, with EPS estimates ranging from ($0.28) to ($0.20). For the next year, analysts anticipate that the company will report earnings of ($0.26) per share, with EPS estimates ranging from ($0.29) to ($0.24). Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover Luminar Technologies.
A number of brokerages have recently issued reports on LAZR. Deutsche Bank Aktiengesellschaft began coverage on shares of Luminar Technologies in a research note on Friday, December 18th. They issued a “buy” rating and a $37.00 price objective for the company. Northland Securities lowered shares of Luminar Technologies from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $41.00 to $38.00 in a research report on Tuesday, January 26th. R. F. Lafferty initiated coverage on shares of Luminar Technologies in a research report on Thursday, January 14th. They set a “buy” rating and a $38.00 price objective for the company. Robert W. Baird initiated coverage on shares of Luminar Technologies in a report on Tuesday, December 22nd. They issued a “neutral” rating and a $30.00 target price for the company. Finally, Smith Barney Citigroup initiated coverage on shares of Luminar Technologies in a report on Wednesday, January 6th. They set a “buy” rating and a $40.00 price objective for the company. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $37.17.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Granite Point Capital Management L.P. acquired a new position in shares of Luminar Technologies in the 4th quarter valued at $1,275,000. MPS Loria Financial Planners LLC acquired a new position in shares of Luminar Technologies in the 4th quarter valued at $31,000. CWM LLC acquired a new position in shares of Luminar Technologies in the 4th quarter valued at $96,000. Janney Montgomery Scott LLC purchased a new stake in Luminar Technologies in the 4th quarter worth $444,000. Finally, Vident Investment Advisory LLC purchased a new stake in Luminar Technologies in the 4th quarter worth $13,692,000. Institutional investors and hedge funds own 7.78% of the company’s stock.
Luminar Technologies Company Profile
Luminar Technologies, Inc operates as a vehicle sensor and software company for passenger vehicles and trucks. The company operates in two segments, Autonomy Solutions and Other Component Sales. The Autonomy Solutions segment designs, manufactures, and sells lidar sensors, and related perception and autonomy software solutions for original equipment manufacturers in the automobile, commercial vehicle, robo-taxi, and other related industries.
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