Cray Inc (NASDAQ:CRAY) – Equities research analysts at KeyCorp lifted their Q4 2017 earnings per share estimates for Cray in a research note issued to investors on Monday. KeyCorp analyst A. Kurtz now forecasts that the technology company will post earnings of $0.25 per share for the quarter, up from their previous estimate of $0.22. KeyCorp currently has a “Buy” rating and a $24.00 target price on the stock. KeyCorp also issued estimates for Cray’s FY2019 earnings at ($0.77) EPS.
Cray (NASDAQ:CRAY) last issued its quarterly earnings data on Monday, October 30th. The technology company reported ($0.33) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.49) by $0.16. Cray had a net margin of 2.71% and a return on equity of 0.73%. The business had revenue of $79.70 million during the quarter, compared to analysts’ expectations of $59.67 million. During the same period last year, the company posted ($0.49) EPS. The company’s revenue was up 2.9% on a year-over-year basis.
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Several other analysts have also commented on CRAY. BidaskClub lowered shares of Cray from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 11th. Stifel Nicolaus reissued a “buy” rating and set a $26.00 target price on shares of Cray in a research note on Wednesday, August 16th. Finally, Zacks Investment Research raised shares of Cray from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Tuesday, October 17th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $23.50.
Institutional investors have recently added to or reduced their stakes in the business. Strs Ohio acquired a new position in Cray in the 3rd quarter valued at approximately $101,000. State of Alaska Department of Revenue increased its stake in Cray by 77.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 7,979 shares of the technology company’s stock valued at $146,000 after buying an additional 3,479 shares during the period. Municipal Employees Retirement System of Michigan increased its stake in Cray by 3.6% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 9,620 shares of the technology company’s stock valued at $177,000 after buying an additional 330 shares during the period. BNP Paribas Arbitrage SA increased its stake in Cray by 59.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 13,393 shares of the technology company’s stock valued at $246,000 after buying an additional 5,001 shares during the period. Finally, UBS Asset Management Americas Inc. acquired a new position in Cray in the 1st quarter valued at approximately $287,000. Hedge funds and other institutional investors own 96.14% of the company’s stock.
Cray Inc is engaged in designing, developing, manufacturing, marketing and servicing the high performance computing (HPC) market, primarily categories of systems known as supercomputers. The Company’s segments include Supercomputing, Storage and Data Management, Maintenance and Support, and Engineering Services and Other.
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