Analysts Anticipate Coherent, Inc. (COHR) Will Announce Earnings of $2.55 Per Share

Brokerages expect Coherent, Inc. (NASDAQ:COHR) to announce earnings of $2.55 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Coherent’s earnings. The highest EPS estimate is $2.66 and the lowest is $2.44. Coherent reported earnings of $0.88 per share in the same quarter last year, which would suggest a positive year over year growth rate of 189.8%. The firm is expected to issue its next earnings results after the market closes on Tuesday, May 9th.

According to Zacks, analysts expect that Coherent will report full year earnings of $9.58 per share for the current financial year, with EPS estimates ranging from $9.35 to $9.80. For the next fiscal year, analysts forecast that the firm will report earnings of $11.63 per share, with EPS estimates ranging from $11.25 to $12.00. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Coherent.

Coherent (NASDAQ:COHR) last posted its quarterly earnings results on Tuesday, February 7th. The scientific and technical instruments company reported $2.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.76 by $0.81. The business had revenue of $346.10 million for the quarter, compared to analyst estimates of $316.98 million. Coherent had a net margin of 9.64% and a return on equity of 15.22%. The firm’s revenue for the quarter was up 81.9% on a year-over-year basis. During the same quarter last year, the business posted $0.99 EPS.

A number of research firms recently weighed in on COHR. Susquehanna Bancshares Inc began coverage on shares of Coherent in a report on Wednesday, February 15th. They set a “neutral” rating and a $225.00 target price on the stock. Stifel Nicolaus upped their target price on shares of Coherent from $145.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, January 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $205.00 target price (up previously from $145.00) on shares of Coherent in a report on Wednesday, February 8th. Finally, Zacks Investment Research lowered shares of Coherent from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 11th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Coherent has an average rating of “Buy” and a consensus price target of $187.00.

A number of institutional investors have recently added to or reduced their stakes in COHR. BlackRock Institutional Trust Company N.A. boosted its position in Coherent by 0.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 609,877 shares of the scientific and technical instruments company’s stock worth $67,416,000 after buying an additional 1,754 shares in the last quarter. State Street Corp boosted its position in Coherent by 7.5% in the fourth quarter. State Street Corp now owns 538,538 shares of the scientific and technical instruments company’s stock worth $73,987,000 after buying an additional 37,414 shares in the last quarter. KAMES CAPITAL plc boosted its position in Coherent by 0.4% in the first quarter. KAMES CAPITAL plc now owns 397,217 shares of the scientific and technical instruments company’s stock worth $81,660,000 after buying an additional 1,657 shares in the last quarter. Northern Trust Corp boosted its position in Coherent by 1.2% in the third quarter. Northern Trust Corp now owns 352,773 shares of the scientific and technical instruments company’s stock worth $38,995,000 after buying an additional 4,084 shares in the last quarter. Finally, Westwood Management Corp IL boosted its position in Coherent by 4.2% in the first quarter. Westwood Management Corp IL now owns 240,500 shares of the scientific and technical instruments company’s stock worth $49,456,000 after buying an additional 9,600 shares in the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

Coherent (NASDAQ:COHR) traded up 1.73% during mid-day trading on Thursday, hitting $221.34. 285,696 shares of the company traded hands. Coherent has a one year low of $81.00 and a one year high of $225.26. The firm has a market capitalization of $5.43 billion, a P/E ratio of 55.63 and a beta of 0.80. The firm has a 50 day moving average of $203.55 and a 200 day moving average of $160.78.

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About Coherent

Coherent, Inc is a photonics manufacturer. The Company is engaged in designing, manufacturing, servicing and marketing of lasers and related accessories for a range of scientific, commercial and industrial applications. It operates through two segments: Specialty Lasers and Systems (SLS) and Commercial Lasers and Components (CLC).

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