$13.75 Million in Sales Expected for Microvision, Inc. (MVIS) This Quarter

Analysts predict that Microvision, Inc. (NASDAQ:MVIS) will announce sales of $13.75 million for the current quarter, Zacks reports. Two analysts have provided estimates for Microvision’s earnings, with the highest sales estimate coming in at $15.50 million and the lowest estimate coming in at $12.00 million. Microvision reported sales of $6.09 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 125.8%. The business is scheduled to report its next quarterly earnings results on Thursday, November 1st.

On average, analysts expect that Microvision will report full-year sales of $23.10 million for the current financial year, with estimates ranging from $21.00 million to $25.20 million. For the next year, analysts expect that the company will post sales of $34.25 million, with estimates ranging from $26.50 million to $42.00 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Microvision.

Microvision (NASDAQ:MVIS) last issued its quarterly earnings results on Tuesday, July 31st. The electronics maker reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.01). Microvision had a negative return on equity of 356.21% and a negative net margin of 223.33%. The firm had revenue of $2.01 million for the quarter, compared to the consensus estimate of $2.87 million. During the same period last year, the firm earned ($0.08) EPS.

Several research firms have recently commented on MVIS. Zacks Investment Research upgraded Microvision from a “hold” rating to a “buy” rating and set a $1.25 price objective on the stock in a report on Saturday, September 29th. HC Wainwright set a $4.00 price objective on Microvision and gave the stock a “buy” rating in a report on Monday, September 10th.

Shares of MVIS stock opened at $1.29 on Wednesday. Microvision has a 12-month low of $0.89 and a 12-month high of $2.55. The stock has a market cap of $112.62 million, a price-to-earnings ratio of -3.85 and a beta of -0.25.

Several institutional investors and hedge funds have recently added to or reduced their stakes in MVIS. Millennium Management LLC purchased a new position in shares of Microvision in the second quarter worth about $1,858,000. EastBay Asset Management LLC purchased a new position in shares of Microvision in the second quarter worth about $1,724,000. State Treasurer State of Michigan increased its holdings in shares of Microvision by 22.9% in the second quarter. State Treasurer State of Michigan now owns 3,864,199 shares of the electronics maker’s stock worth $4,328,000 after buying an additional 720,000 shares during the period. Paloma Partners Management Co purchased a new position in shares of Microvision in the second quarter worth about $429,000. Finally, LMR Partners LLP purchased a new position in shares of Microvision in the second quarter worth about $235,000. Hedge funds and other institutional investors own 27.72% of the company’s stock.

Microvision Company Profile

MicroVision, Inc develops PicoP scanning technology that provides high-resolution miniature projection, and three-dimensional sensing and image capture solutions in the United States. Its PicoP scanning technology comprises micro-electrical mechanical systems, laser diodes, opto-mechanics, and electronics.

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