Zacks: Brokerages Expect Orbotech Ltd. (ORBK) Will Announce Quarterly Sales of $235.56 Million
Wall Street brokerages forecast that Orbotech Ltd. (NASDAQ:ORBK) will post $235.56 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Orbotech’s earnings, with estimates ranging from $233.80 million to $236.90 million. Orbotech posted sales of $215.04 million in the same quarter last year, which would indicate a positive year over year growth rate of 9.5%. The company is scheduled to report its next earnings results on Wednesday, February 14th.
According to Zacks, analysts expect that Orbotech will report full year sales of $235.56 million for the current year, with estimates ranging from $865.70 million to $869.95 million. For the next year, analysts expect 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 averages are an average based on a survey of research analysts that that provide coverage for Orbotech.
Orbotech (NASDAQ:ORBK) last issued its quarterly earnings data on Wednesday, August 2nd. The electronics maker reported $0.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.08. Orbotech had a return on equity of 16.07% and a net margin of 11.89%. The company had revenue of $210.66 million during the quarter, compared to analyst estimates of $205.20 million. During the same quarter in the previous year, the firm earned $0.60 earnings per share. Orbotech’s revenue was up 7.5% on a year-over-year basis.
ORBK has been the subject of several recent analyst reports. Zacks Investment Research lowered Orbotech from a “buy” rating to a “hold” rating in a report on Saturday, September 2nd. Stifel Nicolaus initiated coverage on Orbotech in a report on Thursday, August 31st. They set a “buy” rating and a $46.00 price objective for the company. Jefferies Group LLC reissued a “buy” rating and set a $42.00 price objective on shares of Orbotech in a report on Tuesday, September 12th. Finally, BidaskClub lowered Orbotech from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $44.56.
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Institutional investors and hedge funds have recently modified their holdings of the business. Legal & General Group Plc boosted its stake in Orbotech by 293.4% in the second quarter. Legal & General Group Plc now owns 4,327 shares of the electronics maker’s stock worth $141,000 after buying an additional 3,227 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Orbotech by 40.9% in the first quarter. Envestnet Asset Management Inc. now owns 5,095 shares of the electronics maker’s stock worth $165,000 after buying an additional 1,479 shares in the last quarter. Airain ltd purchased a new stake in Orbotech in the second quarter worth approximately $208,000. OppenheimerFunds Inc. purchased a new stake in Orbotech in the first quarter worth approximately $242,000. Finally, Quantbot Technologies LP purchased a new stake in Orbotech in the second quarter worth approximately $252,000. 69.08% of the stock is owned by institutional investors and hedge funds.
Shares of Orbotech (ORBK) traded up $4.36 during midday trading on Tuesday, hitting $49.08. The stock had a trading volume of 762,768 shares, compared to its average volume of 238,281. The company has a market capitalization of $2,351.11, a PE ratio of 19.10 and a beta of 0.76.
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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