Lumentum (NASDAQ:LITE) Releases Q1 2020 Earnings Guidance

Lumentum (NASDAQ:LITE) issued an update on its first quarter 2020 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.12-1.26 for the period, compared to the Thomson Reuters consensus estimate of $1.11. The company issued revenue guidance of $435-455 million, compared to the consensus revenue estimate of $438.32 million.Lumentum also updated its Q1 guidance to $1.12-1.26 EPS.

Shares of LITE traded down $0.93 during mid-day trading on Friday, hitting $59.71. 2,267,623 shares of the company’s stock were exchanged, compared to its average volume of 1,579,799. The firm’s fifty day simple moving average is $54.24. Lumentum has a twelve month low of $37.00 and a twelve month high of $69.95. The firm has a market capitalization of $4.63 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 1.21 and a beta of 1.36. The company has a current ratio of 4.53, a quick ratio of 3.20 and a debt-to-equity ratio of 0.56.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported $0.74 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 company had revenue of $404.60 million for the quarter, compared to analyst estimates of $383.54 million. During the same quarter in the prior year, the business posted $0.95 EPS. Lumentum’s quarterly revenue was up 34.4% on a year-over-year basis. As a group, equities research analysts forecast that Lumentum will post 3.58 EPS for the current year.

LITE has been the topic of several analyst reports. UBS Group set a $70.00 price target on shares of Lumentum and gave the stock a buy rating in a research note on Wednesday, May 8th. Northland Securities reaffirmed a buy rating and set a $71.25 price objective on shares of Lumentum in a report on Monday, July 1st. TheStreet downgraded shares of Lumentum from a b- rating to a c+ rating in a report on Monday, May 13th. Barclays upped their price objective on shares of Lumentum from $60.00 to $65.00 and gave the stock an overweight rating in a report on Friday. Finally, DA Davidson set a $75.00 price objective on shares of Lumentum and gave the stock a buy rating in a report on Monday, May 20th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $69.13.

Lumentum Company Profile

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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