Coherent (NASDAQ:COHR) Releases Earnings Results, Beats Estimates By $0.28 EPS

Coherent (NASDAQ:COHR) announced its earnings results on Tuesday. The scientific and technical instruments company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.28, Briefing.com reports. Coherent had a return on equity of 17.88% and a net margin of 11.56%. The firm had revenue of $339.17 million for the quarter, compared to the consensus estimate of $348.61 million. During the same quarter in the previous year, the business earned $3.51 EPS. The company’s revenue was down 29.7% compared to the same quarter last year.

NASDAQ COHR traded down $11.97 on Wednesday, hitting $136.94. 422,681 shares of the stock traded hands, compared to its average volume of 273,489. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.36 and a quick ratio of 2.03. The stock’s fifty day simple moving average is $133.52. Coherent has a 12 month low of $90.10 and a 12 month high of $192.37. The company has a market cap of $3.58 billion, a price-to-earnings ratio of 10.50 and a beta of 1.85.

A number of equities analysts have recently weighed in on COHR shares. Benchmark restated a “buy” rating and issued a $40.00 target price (up previously from $34.00) on shares of LivePerson in a research note on Wednesday. Stifel Nicolaus boosted their target price on Zendesk from $75.00 to $83.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. Susquehanna Bancshares restated a “neutral” rating and issued a $180.00 target price on shares of Universal Display in a research note on Monday, April 29th. BidaskClub upgraded Zai Lab from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 28th. Finally, Zacks Investment Research downgraded EXACT Sciences from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $170.25.

About Coherent

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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Earnings History for Coherent (NASDAQ:COHR)

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