Zacks: Brokerages Anticipate Lumentum Holdings Inc (LITE) to Post $1.67 Earnings Per Share

Wall Street analysts predict that Lumentum Holdings Inc (NASDAQ:LITE) will announce earnings of $1.67 per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Lumentum’s earnings, with estimates ranging from $1.61 to $1.75. Lumentum also posted earnings per share of $1.67 during the same quarter last year. The company is scheduled to issue its next earnings results on Tuesday, February 5th.

On average, analysts expect that Lumentum will report full year earnings of $5.06 per share for the current year, with EPS estimates ranging from $4.71 to $5.52. For the next fiscal year, analysts expect that the company will report earnings of $5.28 per share, with EPS estimates ranging from $4.00 to $6.55. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that cover Lumentum.

Lumentum (NASDAQ:LITE) last released its earnings results on Thursday, November 1st. The technology company reported $1.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.29. The company had revenue of $354.00 million during the quarter, compared to analysts’ expectations of $351.21 million. Lumentum had a return on equity of 28.74% and a net margin of 21.21%. The business’s revenue for the quarter was up 45.7% on a year-over-year basis. During the same period last year, the firm earned $0.43 EPS.

Several equities research analysts have recently commented on LITE shares. Cascend Securities started coverage on Lumentum in a research note on Tuesday, July 17th. They issued a “buy” rating and a $70.00 target price for the company. ValuEngine cut Lumentum from a “hold” rating to a “sell” rating in a research note on Friday, July 20th. DA Davidson decreased their price objective on Lumentum to $92.00 and set a “buy” rating for the company in a research note on Monday, July 23rd. Loop Capital decreased their price objective on Lumentum to $73.00 and set a “buy” rating for the company in a research note on Tuesday, August 7th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and set a $85.00 price objective on shares of Lumentum in a research note on Wednesday, August 8th. Three investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Lumentum currently has a consensus rating of “Buy” and an average target price of $79.68.

NASDAQ LITE opened at $55.95 on Friday. The firm has a market capitalization of $3.49 billion, a PE ratio of 17.27, a PEG ratio of 0.70 and a beta of 0.46. Lumentum has a 52 week low of $41.95 and a 52 week high of $74.40. The company has a quick ratio of 4.88, a current ratio of 5.52 and a debt-to-equity ratio of 0.34.

In other Lumentum news, CFO Christopher W. Coldren sold 3,416 shares of Lumentum stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $64.36, for a total transaction of $219,853.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Penny Herscher sold 1,197 shares of Lumentum stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $52.93, for a total value of $63,357.21. Following the transaction, the director now owns 34,743 shares in the company, valued at $1,838,946.99. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,421 shares of company stock valued at $648,010. 0.55% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of LITE. DekaBank Deutsche Girozentrale lifted its holdings in Lumentum by 149.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 1,497 shares of the technology company’s stock worth $102,000 after acquiring an additional 897 shares in the last quarter. Fortaleza Asset Management Inc. bought a new position in Lumentum during the second quarter worth about $110,000. FNY Investment Advisers LLC bought a new position in Lumentum during the second quarter worth about $190,000. LS Investment Advisors LLC lifted its holdings in Lumentum by 95.1% during the second quarter. LS Investment Advisors LLC now owns 3,596 shares of the technology company’s stock worth $208,000 after acquiring an additional 1,753 shares in the last quarter. Finally, CIBC World Markets Inc. bought a new position in Lumentum during the third quarter worth about $237,000.

Lumentum Company Profile

Lumentum Holdings, Inc engages in the manufacture of optical and photonic products enabling optical networking and commercial laser. It operates through the Optical Communications (OpComms) and Commercial Lasers business segments. The OpComms segment includes modules and subsystems to support and maintain customers in the Telecom and Datacom markets.

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