Veeco Instruments (VECO) Issues Q1 2019 Earnings Guidance

Veeco Instruments (NASDAQ:VECO) issued an update on its first quarter 2019 earnings guidance on Monday morning. The company provided EPS guidance of $-0.3–0.1 for the period, compared to the Thomson Reuters consensus EPS estimate of $-0.11. The company issued revenue guidance of $85-105 million, compared to the consensus revenue estimate of $98.06 million.

VECO has been the topic of several research reports. BidaskClub raised shares of Veeco Instruments from a strong sell rating to a sell rating in a report on Wednesday, October 31st. ValuEngine downgraded shares of Veeco Instruments from a hold rating to a sell rating in a research note on Wednesday, January 2nd. Finally, Zacks Investment Research cut shares of Veeco Instruments from a buy rating to a hold rating in a research note on Thursday, October 25th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $23.38.

Veeco Instruments stock traded up $0.11 during mid-day trading on Monday, hitting $10.99. 861,200 shares of the company were exchanged, compared to its average volume of 355,825. Veeco Instruments has a 1-year low of $6.27 and a 1-year high of $20.55. The firm has a market capitalization of $512.31 million, a P/E ratio of -549.50 and a beta of 1.22. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.15 and a quick ratio of 2.28.

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About Veeco Instruments

Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells, and supports semiconductor process equipment worldwide. It offers metal organic chemical vapor deposition systems; packaging lithography equipment; precision surface processing systems; laser annealing systems; ion beam etch and deposition systems; molecular beam epitaxy systems; 3D wafer inspection systems; and atomic layer deposition and other deposition systems.

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