Coherent, Inc. (NASDAQ:COHR) Expected to Announce Quarterly Sales of $328.70 Million

Equities analysts expect Coherent, Inc. (NASDAQ:COHR) to report sales of $328.70 million for the current quarter, Zacks reports. Two analysts have issued estimates for Coherent’s earnings, with the lowest sales estimate coming in at $327.80 million and the highest estimate coming in at $329.60 million. Coherent reported sales of $461.55 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 28.8%. The business is expected to announce its next quarterly earnings report on Tuesday, November 5th.

According to Zacks, analysts expect that Coherent will report full-year sales of $1.42 billion for the current fiscal year. For the next year, analysts forecast that the business will report sales of $1.43 billion, with estimates ranging from $1.40 billion to $1.46 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Coherent.

Coherent (NASDAQ:COHR) last announced its quarterly earnings data on Tuesday, July 30th. The scientific and technical instruments company reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.28. The firm had revenue of $339.17 million during the quarter, compared to analyst estimates of $348.61 million. Coherent had a net margin of 8.12% and a return on equity of 13.38%. The business’s quarterly revenue was down 29.7% on a year-over-year basis. During the same period in the previous year, the business posted $3.51 EPS.

A number of equities research analysts have recently weighed in on COHR shares. BidaskClub upgraded shares of Coherent from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Zacks Investment Research lowered shares of Coherent from a “hold” rating to a “strong sell” rating in a report on Monday, August 5th. ValuEngine upgraded shares of Coherent from a “hold” rating to a “buy” rating in a report on Tuesday, August 6th. Benchmark restated a “buy” rating and issued a $165.00 price objective on shares of Coherent in a report on Wednesday, July 31st. Finally, Susquehanna Bancshares lowered shares of Coherent from a “positive” rating to a “neutral” rating and set a $140.00 price objective for the company. in a report on Monday, April 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $159.17.

Shares of COHR traded up $1.30 during mid-day trading on Monday, reaching $152.13. The company’s stock had a trading volume of 100 shares, compared to its average volume of 410,284. The stock has a market cap of $3.63 billion, a PE ratio of 11.60 and a beta of 1.82. The company has a current ratio of 3.97, a quick ratio of 2.34 and a debt-to-equity ratio of 0.31. Coherent has a 52 week low of $90.10 and a 52 week high of $192.37. The company’s fifty day moving average price is $138.07 and its two-hundred day moving average price is $135.27.

Several hedge funds and other institutional investors have recently modified their holdings of COHR. Steward Partners Investment Advisory LLC purchased a new position in shares of Coherent in the second quarter worth $28,000. Synovus Financial Corp increased its position in Coherent by 400.0% during the 1st quarter. Synovus Financial Corp now owns 320 shares of the scientific and technical instruments company’s stock valued at $45,000 after purchasing an additional 256 shares during the period. Cerebellum GP LLC purchased a new position in Coherent during the 2nd quarter valued at $48,000. Atria Investments LLC purchased a new position in Coherent during the 2nd quarter valued at $57,000. Finally, First Mercantile Trust Co. purchased a new position in Coherent during the 1st quarter valued at $64,000. 97.19% of the stock is currently owned by institutional investors.

Coherent Company Profile

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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