Coherent, Inc. (NASDAQ:COHR) Expected to Announce Quarterly Sales of $328.70 Million

Brokerages predict that Coherent, Inc. (NASDAQ:COHR) will report sales of $328.70 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Coherent’s earnings. The lowest sales estimate is $327.80 million and the highest is $329.60 million. Coherent reported sales of $461.55 million in the same quarter last year, which indicates a negative year-over-year growth rate of 28.8%. The business is scheduled to announce its next earnings report on Tuesday, November 5th.

According to Zacks, analysts expect that Coherent will report full-year sales of $1.42 billion for the current financial year. For the next fiscal year, analysts forecast that the firm will report sales of $1.43 billion, with estimates ranging from $1.40 billion to $1.46 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Coherent.

Coherent (NASDAQ:COHR) last issued its quarterly earnings data on Tuesday, July 30th. The scientific and technical instruments company reported $1.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.28. The company had revenue of $339.17 million for the quarter, compared to the consensus estimate of $348.61 million. Coherent had a net margin of 8.12% and a return on equity of 13.38%. The firm’s revenue for the quarter was down 29.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.51 earnings per share.

A number of research analysts recently weighed in on COHR shares. TheStreet downgraded shares of Coherent from a “b-” rating to a “c+” rating in a research report on Wednesday, August 14th. ValuEngine downgraded shares of Coherent from a “strong-buy” rating to a “buy” rating in a research report on Monday. Benchmark increased their price objective on shares of Coherent from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. BidaskClub upgraded shares of Coherent from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Finally, Zacks Investment Research upgraded shares of Coherent from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 1st. Six analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $150.00.

Coherent stock traded up $3.52 during midday trading on Friday, reaching $157.12. 45,404 shares of the company traded hands, compared to its average volume of 309,076. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of 12.05 and a beta of 1.78. The business has a 50 day moving average of $152.33 and a two-hundred day moving average of $140.22. Coherent has a 12 month low of $90.10 and a 12 month high of $173.92. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.97 and a quick ratio of 2.34.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC bought a new position in Coherent in the second quarter worth approximately $28,000. Cerebellum GP LLC bought a new position in Coherent in the second quarter worth approximately $48,000. NumerixS Investment Technologies Inc bought a new position in Coherent in the second quarter worth approximately $82,000. First Mercantile Trust Co. raised its position in Coherent by 60.0% in the second quarter. First Mercantile Trust Co. now owns 720 shares of the scientific and technical instruments company’s stock worth $98,000 after acquiring an additional 270 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in Coherent in the second quarter worth approximately $114,000. Institutional investors and hedge funds own 99.41% of the company’s stock.

Coherent Company Profile

Coherent, Inc provides lasers, laser-based technologies, and laser-based system solutions for a range of scientific, commercial, and industrial applications. It operates through 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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