Coherent, Inc. (NASDAQ:COHR) Expected to Post Quarterly Sales of $330.85 Million

Brokerages expect Coherent, Inc. (NASDAQ:COHR) to report $330.85 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Coherent’s earnings. The highest sales estimate is $331.70 million and the lowest is $330.00 million. Coherent posted sales of $293.15 million in the same quarter last year, which would indicate a positive year over year growth rate of 12.9%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, May 26th.

According to Zacks, analysts expect that Coherent will report full-year sales of $1.40 billion for the current year, with estimates ranging from $1.39 billion to $1.41 billion. For the next fiscal year, analysts anticipate that the company will report sales of $1.67 billion, with estimates ranging from $1.66 billion to $1.68 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Coherent.

Coherent (NASDAQ:COHR) last announced its quarterly earnings results on Tuesday, February 9th. The scientific and technical instruments company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.20. Coherent had a negative net margin of 33.70% and a positive return on equity of 3.41%. The firm had revenue of $326.05 million during the quarter, compared to analysts’ expectations of $318.22 million. During the same period in the previous year, the company earned $0.86 earnings per share. Coherent’s quarterly revenue was up 1.6% compared to the same quarter last year.

A number of equities research analysts have recently commented on COHR shares. TheStreet raised shares of Coherent from a “d+” rating to a “c-” rating in a report on Friday, January 29th. Benchmark cut shares of Coherent from a “buy” rating to a “hold” rating in a report on Thursday, February 11th. Barclays raised shares of Coherent from an “underweight” rating to an “equal weight” rating in a report on Wednesday, January 20th. Zacks Investment Research cut shares of Coherent from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 13th. Finally, Berenberg Bank cut shares of Coherent from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a report on Thursday, January 21st. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $188.13.

A number of hedge funds and other institutional investors have recently bought and sold shares of COHR. Norges Bank purchased a new position in Coherent during the fourth quarter worth about $43,544,000. Victory Capital Management Inc. grew its position in Coherent by 5.6% during the fourth quarter. Victory Capital Management Inc. now owns 1,673,292 shares of the scientific and technical instruments company’s stock worth $251,027,000 after buying an additional 88,797 shares during the period. Pekin Hardy Strauss Inc. grew its position in Coherent by 377.8% during the third quarter. Pekin Hardy Strauss Inc. now owns 44,590 shares of the scientific and technical instruments company’s stock worth $4,946,000 after buying an additional 35,258 shares during the period. Havens Advisors LLC acquired a new position in Coherent during the first quarter worth about $8,851,000. Finally, Robeco Schweiz AG grew its position in Coherent by 14.0% during the first quarter. Robeco Schweiz AG now owns 245,000 shares of the scientific and technical instruments company’s stock worth $61,958,000 after buying an additional 30,000 shares during the period. 91.82% of the stock is owned by hedge funds and other institutional investors.

COHR traded down $3.02 on Thursday, reaching $256.52. The company had a trading volume of 268,015 shares, compared to its average volume of 516,745. Coherent has a 1 year low of $103.00 and a 1 year high of $270.99. The stock has a market capitalization of $6.28 billion, a PE ratio of -14.95 and a beta of 1.54. The company has a quick ratio of 2.93, a current ratio of 4.52 and a debt-to-equity ratio of 0.44. The stock has a 50-day moving average price of $261.82 and a 200-day moving average price of $192.37.

Coherent Company Profile

Coherent, Inc provides lasers, laser-based technologies, and laser-based system solutions for a range of scientific, commercial, and industrial research applications. It operates in 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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