Orbotech Ltd. (ORBK) Expected to Announce Quarterly Sales of $234.53 Million
Analysts expect that Orbotech Ltd. (NASDAQ:ORBK) will announce sales of $234.53 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Orbotech’s earnings. The lowest sales estimate is $233.60 million and the highest is $235.39 million. Orbotech reported sales of $204.95 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 14.4%. The firm is expected to report its next quarterly earnings results before the market opens on Wednesday, November 1st.
According to Zacks, analysts expect that Orbotech will report full year sales of $234.53 million for the current year, with estimates ranging from $865.70 million to $869.95 million. For the next fiscal year, analysts forecast that the firm will report sales of $937.54 million per share, with estimates ranging from $912.19 million to $965.60 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Orbotech.
Orbotech (NASDAQ:ORBK) last announced its quarterly earnings results on Wednesday, August 2nd. The electronics maker reported $0.67 EPS for the quarter, beating the consensus estimate of $0.59 by $0.08. Orbotech had a net margin of 11.03% and a return on equity of 14.98%. The company had revenue of $210.66 million for the quarter, compared to analyst estimates of $205.20 million. During the same quarter last year, the business earned $0.60 earnings per share. Orbotech’s revenue was up 7.5% compared to the same quarter last year.
ORBK has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Orbotech from a “buy” rating to a “hold” rating in a report on Saturday, September 2nd. BidaskClub downgraded shares of Orbotech from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. Stifel Nicolaus initiated coverage on shares of Orbotech in a report on Thursday, August 31st. They set a “buy” rating and a $46.00 price target for the company. Finally, Jefferies Group LLC reissued a “buy” rating and set a $42.00 price target on shares of Orbotech in a report on Tuesday, September 12th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Orbotech has a consensus rating of “Buy” and a consensus price target of $41.88.
Shares of Orbotech (ORBK) traded up 0.07% during midday trading on Thursday, hitting $43.63. 134,760 shares of the company’s stock traded hands. The company has a 50 day moving average price of $41.70 and a 200 day moving average price of $36.47. Orbotech has a 1-year low of $26.83 and a 1-year high of $43.97. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 23.42 and a beta of 0.79.
Institutional investors and hedge funds have recently modified their holdings of the company. Legal & General Group Plc raised its position in shares of Orbotech by 293.4% in the second quarter. Legal & General Group Plc now owns 4,327 shares of the electronics maker’s stock valued at $141,000 after purchasing an additional 3,227 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Orbotech by 40.9% in the first quarter. Envestnet Asset Management Inc. now owns 5,095 shares of the electronics maker’s stock valued at $165,000 after purchasing an additional 1,479 shares during the period. Airain ltd bought a new position in shares of Orbotech in the second quarter valued at about $208,000. Eqis Capital Management Inc. bought a new position in shares of Orbotech in the third quarter valued at about $270,000. Finally, OppenheimerFunds Inc. bought a new position in shares of Orbotech in the first quarter valued at about $242,000. 69.88% of the stock is currently owned by institutional investors.
Orbotech Company Profile
Orbotech Ltd. is a supplier of yield-enhancing and process-enabling solutions for the manufacture of electronics products. The Company provides cutting-edge solutions for use in the manufacture of printed circuit boards (PCBs), flat panel displays (FPDs) and semiconductor devices (SDs). The Company’s segments include Production Solutions for the Electronics Industry, Solar Energy and Recognition Software.
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