Lumentum (NASDAQ:LITE) Issues Q1 Earnings Guidance

Lumentum (NASDAQ:LITE) updated its first quarter earnings guidance on Thursday. The company provided EPS guidance of $1.12-1.26 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.11. The company issued revenue guidance of $435-455 million, compared to the consensus revenue estimate of $439.80 million.Lumentum also updated its Q1 2020 guidance to $1.12-1.26 EPS.

A number of research firms have recently weighed in on LITE. Craig Hallum increased their target price on shares of Lumentum from $60.00 to $75.00 and gave the company a buy rating in a research report on Friday. Piper Jaffray Companies increased their target price on shares of Lumentum from $68.00 to $72.00 and gave the company an overweight rating in a research report on Friday. Barclays increased their target price on shares of Lumentum from $60.00 to $65.00 and gave the company an overweight rating in a research report on Friday. Zacks Investment Research downgraded shares of Lumentum from a hold rating to a strong sell rating in a research report on Saturday. Finally, UBS Group set a $70.00 target price on shares of Lumentum and gave the company a buy rating in a research report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. Lumentum has a consensus rating of Buy and a consensus price target of $69.13.

NASDAQ LITE traded down $0.93 on Friday, hitting $59.71. The stock had a trading volume of 2,267,623 shares, compared to its average volume of 1,579,799. Lumentum has a 52-week low of $37.00 and a 52-week high of $69.95. The company has a quick ratio of 3.20, a current ratio of 4.53 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $4.63 billion, a P/E ratio of 18.09, a price-to-earnings-growth ratio of 1.21 and a beta of 1.36. The business has a 50-day moving average of $54.24.

Lumentum (NASDAQ:LITE) last posted its earnings results on Thursday, August 8th. The technology company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.21. Lumentum had a negative net margin of 2.33% and a positive return on equity of 18.19%. The business had revenue of $404.60 million for the quarter, compared to analysts’ expectations of $383.54 million. During the same period in the prior year, the company posted $0.95 EPS. The business’s revenue for the quarter was up 34.4% compared to the same quarter last year. Equities research analysts expect that Lumentum will post 3.58 EPS for the current year.

About Lumentum

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates through two segments, Optical Communications and Commercial Lasers. The Optical Communications segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and text data over high-capacity fiber optic cables.

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Earnings History and Estimates for Lumentum (NASDAQ:LITE)

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