Zacks: Analysts Anticipate Coherent, Inc. (NASDAQ:COHR) Will Post Quarterly Sales of $330.85 Million


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Equities research analysts expect Coherent, Inc. (NASDAQ:COHR) to report sales of $330.85 million for the current quarter, according to Zacks. Two analysts have provided estimates for Coherent’s earnings, with the lowest sales estimate coming in at $330.00 million and the highest estimate coming in at $331.70 million. Coherent reported sales of $293.15 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 12.9%. The company is scheduled to issue its next quarterly earnings report on Wednesday, May 26th.

On average, analysts expect that Coherent will report full year sales of $1.40 billion for the current year, with estimates ranging from $1.39 billion to $1.41 billion. For the next fiscal year, analysts forecast that the business will post sales of $1.67 billion, with estimates ranging from $1.66 billion to $1.68 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Coherent.

Coherent (NASDAQ:COHR) last issued its quarterly earnings data on Tuesday, February 9th. The scientific and technical instruments company reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.20. The business had revenue of $326.05 million for 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 revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.86 EPS.

A number of research firms have issued reports on COHR. Longbow Research cut Coherent from a “buy” rating to a “neutral” rating in a report on Thursday, November 12th. Barclays upgraded Coherent from an “underweight” rating to an “equal weight” rating in a report on Wednesday, January 20th. Stifel Nicolaus cut Coherent from a “buy” rating to a “hold” rating in a report on Wednesday, November 11th. Berenberg Bank cut 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. Finally, TheStreet upgraded Coherent from a “d+” rating to a “c-” rating in a report on Friday, January 29th. Seven investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $183.56.

In other news, Director Pamela Fletcher sold 464 shares of the firm’s stock in a transaction dated Wednesday, December 2nd. The stock was sold at an average price of $125.00, for a total value of $58,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.62% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in Coherent by 1.2% in the 4th quarter. BlackRock Inc. now owns 2,214,576 shares of the scientific and technical instruments company’s stock valued at $332,230,000 after purchasing an additional 26,163 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Coherent by 5.6% in the 4th quarter. Victory Capital Management Inc. now owns 1,673,292 shares of the scientific and technical instruments company’s stock valued at $251,027,000 after purchasing an additional 88,797 shares during the last quarter. Earnest Partners LLC lifted its stake in Coherent by 15.4% in the 3rd quarter. Earnest Partners LLC now owns 605,117 shares of the scientific and technical instruments company’s stock valued at $67,126,000 after purchasing an additional 80,559 shares during the last quarter. Central Securities Corp lifted its stake in Coherent by 10.0% in the 3rd quarter. Central Securities Corp now owns 385,000 shares of the scientific and technical instruments company’s stock valued at $42,708,000 after purchasing an additional 35,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Coherent by 4.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 220,450 shares of the scientific and technical instruments company’s stock valued at $33,072,000 after purchasing an additional 8,453 shares during the last quarter. Institutional investors and hedge funds own 91.82% of the company’s stock.

Coherent stock traded down $5.44 during mid-day trading on Thursday, hitting $244.71. 16,154 shares of the company’s stock were exchanged, compared to its average volume of 620,094. The firm has a market capitalization of $5.98 billion, a P/E ratio of -14.55 and a beta of 1.54. Coherent has a fifty-two week low of $78.21 and a fifty-two week high of $264.64. 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 company’s 50 day simple moving average is $200.56 and its 200-day simple moving average is $142.40.

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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