$90.70 Million in Sales Expected for Cray Inc. (CRAY) This Quarter

Wall Street brokerages forecast that Cray Inc. (NASDAQ:CRAY) will announce sales of $90.70 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Cray’s earnings, with estimates ranging from $90.00 million to $91.40 million. Cray posted sales of $79.70 million in the same quarter last year, which suggests a positive year over year growth rate of 13.8%. The business is expected to report its next earnings results on Monday, October 29th.

On average, analysts expect that Cray will report full-year sales of $451.30 million for the current financial year, with estimates ranging from $450.80 million to $451.80 million. For the next financial year, analysts expect that the firm will post sales of $486.80 million, with estimates ranging from $471.60 million to $502.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Cray.

Cray (NASDAQ:CRAY) last posted its earnings results on Tuesday, July 31st. The technology company reported ($0.20) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.13. The firm had revenue of $120.20 million during the quarter, compared to the consensus estimate of $108.68 million. Cray had a negative net margin of 32.22% and a negative return on equity of 8.18%. The company’s revenue was up 38.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.20) EPS.

A number of research firms recently issued reports on CRAY. ValuEngine raised shares of Cray from a “hold” rating to a “buy” rating in a research report on Tuesday, September 4th. BidaskClub downgraded shares of Cray from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 23rd. Finally, Zacks Investment Research downgraded shares of Cray from a “hold” rating to a “sell” rating in a research report on Friday, August 3rd. Two research analysts have rated the stock with a sell rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $31.00.

CRAY traded up $0.25 on Monday, reaching $21.35. 156,300 shares of the company’s stock were exchanged, compared to its average volume of 303,313. The company has a market cap of $881.86 million, a PE ratio of -20.89 and a beta of 1.49. Cray has a twelve month low of $17.90 and a twelve month high of $28.60.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRAY. Swiss National Bank boosted its holdings in Cray by 4.9% in the 1st quarter. Swiss National Bank now owns 70,400 shares of the technology company’s stock worth $1,457,000 after acquiring an additional 3,300 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in Cray by 7.2% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 301,392 shares of the technology company’s stock worth $6,239,000 after acquiring an additional 20,287 shares during the period. Northern Trust Corp boosted its holdings in Cray by 2.3% in the 1st quarter. Northern Trust Corp now owns 559,875 shares of the technology company’s stock worth $11,590,000 after acquiring an additional 12,582 shares during the period. BlackRock Inc. boosted its holdings in Cray by 1.2% in the 1st quarter. BlackRock Inc. now owns 5,224,759 shares of the technology company’s stock worth $108,153,000 after acquiring an additional 63,238 shares during the period. Finally, Federated Investors Inc. PA boosted its holdings in Cray by 95.9% in the 1st quarter. Federated Investors Inc. PA now owns 144,181 shares of the technology company’s stock worth $2,985,000 after acquiring an additional 70,581 shares during the period. Hedge funds and other institutional investors own 96.99% of the company’s stock.

Cray Company Profile

Cray Inc, together with its subsidiaries, designs, develops, manufactures, markets, and services computing systems, and data analytics and artificial intelligence solutions. It operates through Supercomputing, Storage and Data Management, Maintenance and Support, and Engineering Services and Other segments.

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