$15.62 Million in Sales Expected for Luna Innovations Incorporated (LUNA) This Quarter

Brokerages forecast that Luna Innovations Incorporated (NASDAQ:LUNA) will report $15.62 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Luna Innovations’ earnings, with the highest sales estimate coming in at $15.73 million and the lowest estimate coming in at $15.50 million. Luna Innovations reported sales of $13.77 million in the same quarter last year, which would suggest a positive year over year growth rate of 13.4%. The company is scheduled to report its next earnings results on Wednesday, August 7th.

According to Zacks, analysts expect that Luna Innovations will report full-year sales of $63.66 million for the current year, with estimates ranging from $62.50 million to $64.82 million. For the next year, analysts expect that the company will post sales of $73.44 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow Luna Innovations.

Luna Innovations (NASDAQ:LUNA) last announced its quarterly earnings data on Wednesday, May 8th. The scientific and technical instruments company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.04. The business had revenue of $14.83 million during the quarter, compared to analysts’ expectations of $12.80 million. Luna Innovations had a return on equity of 5.65% and a net margin of 22.56%.

Several equities analysts have recently issued reports on LUNA shares. ValuEngine upgraded Luna Innovations from a “hold” rating to a “buy” rating in a research note on Saturday, February 2nd. Zacks Investment Research lowered Luna Innovations from a “buy” rating to a “hold” rating in a research report on Wednesday, March 6th. B. Riley started coverage on Luna Innovations in a research report on Tuesday, January 15th. They set a “buy” rating and a $4.60 target price on the stock. Finally, Northland Securities reissued a “hold” rating and set a $4.00 target price on shares of Luna Innovations in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Luna Innovations has a consensus rating of “Buy” and an average price target of $4.50.

Several hedge funds and other institutional investors have recently modified their holdings of LUNA. Dimensional Fund Advisors LP raised its position in shares of Luna Innovations by 29.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 503,203 shares of the scientific and technical instruments company’s stock worth $1,625,000 after acquiring an additional 114,946 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Luna Innovations by 1.9% during the 3rd quarter. Renaissance Technologies LLC now owns 1,125,807 shares of the scientific and technical instruments company’s stock worth $3,636,000 after acquiring an additional 20,902 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Luna Innovations by 25.9% during the 3rd quarter. Vanguard Group Inc. now owns 864,099 shares of the scientific and technical instruments company’s stock worth $2,791,000 after acquiring an additional 177,962 shares in the last quarter. Vanguard Group Inc raised its position in shares of Luna Innovations by 25.9% during the 3rd quarter. Vanguard Group Inc now owns 864,099 shares of the scientific and technical instruments company’s stock worth $2,791,000 after acquiring an additional 177,962 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in shares of Luna Innovations by 0.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 468,147 shares of the scientific and technical instruments company’s stock worth $1,568,000 after acquiring an additional 3,125 shares in the last quarter. 22.45% of the stock is currently owned by institutional investors and hedge funds.

Shares of LUNA traded up $0.21 during midday trading on Wednesday, hitting $4.52. The company had a trading volume of 80,100 shares, compared to its average volume of 89,302. The stock has a market capitalization of $123.19 million, a PE ratio of 113.00 and a beta of 0.67. Luna Innovations has a 1 year low of $2.68 and a 1 year high of $4.73.

About Luna Innovations

Luna Innovations Incorporated develops, manufactures, and markets fiber optic sensing, and test and measurement products worldwide. It operates in two segments, Products and Licensing, and Technology Development. The Products and Licensing segment offers fiber optic sensing products, as well as test and measurement products to monitor the integrity of fiber optic network components and sub-assemblies, which include optical vector analyzer, optical backscatter reflectometers, and the Phoenix family of tunable lasers; and distributed sensing systems comprising optical distributed sensor interrogator sensing solution with multiple sensors whose inputs are integrated through a fiber optic network and software.

Featured Story: Investing in Growth Stocks

Get a free copy of the Zacks research report on Luna Innovations (LUNA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Luna Innovations (NASDAQ:LUNA)

Receive News & Ratings for Luna Innovations Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Luna Innovations and related companies with MarketBeat.com's FREE daily email newsletter.