Equities analysts expect that Cree, Inc. (NASDAQ:CREE) will report $349.62 million in sales for the current quarter, according to Zacks. Seven analysts have issued estimates for Cree’s earnings, with estimates ranging from $345.00 million to $352.52 million. Cree reported sales of $346.96 million in the same quarter last year, which would suggest a positive year over year growth rate of 0.8%. The business is scheduled to announce its next quarterly earnings results on Tuesday, January 23rd.
According to Zacks, analysts expect that Cree will report full-year sales of $349.62 million for the current fiscal year, with estimates ranging from $1.37 billion to $1.43 billion. For the next financial year, analysts anticipate that the firm will report sales of $1.47 billion per share, with estimates ranging from $1.41 billion to $1.53 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Cree.
Cree (NASDAQ:CREE) last posted its quarterly earnings data on Tuesday, October 17th. The LED producer reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. The company had revenue of $360.00 million during the quarter, compared to analyst estimates of $360.01 million. Cree had a negative net margin of 8.42% and a negative return on equity of 0.44%. Cree’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.09 earnings per share.
Several research firms have commented on CREE. TheStreet raised shares of Cree from a “d+” rating to a “c-” rating in a research note on Wednesday, September 27th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Cree in a research note on Wednesday, October 18th. Zacks Investment Research lowered shares of Cree from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. Cowen and Company set a $22.00 price objective on shares of Cree and gave the stock a “hold” rating in a research note on Wednesday, August 23rd. Finally, KeyCorp reiterated an “equal weight” rating and set a $21.00 target price on shares of Cree in a research report on Friday, August 25th. Seven equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. Cree has an average rating of “Hold” and a consensus target price of $25.73.
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Hedge funds have recently added to or reduced their stakes in the stock. GAM Holding AG bought a new stake in shares of Cree in the second quarter valued at about $104,000. Riverhead Capital Management LLC raised its holdings in Cree by 75.0% in the second quarter. Riverhead Capital Management LLC now owns 5,426 shares of the LED producer’s stock worth $134,000 after purchasing an additional 2,326 shares in the last quarter. Strs Ohio bought a new position in Cree in the second quarter worth about $140,000. Garner Asset Management Corp bought a new position in Cree in the third quarter worth about $204,000. Finally, LS Investment Advisors LLC raised its holdings in Cree by 17.9% in the second quarter. LS Investment Advisors LLC now owns 7,643 shares of the LED producer’s stock worth $188,000 after purchasing an additional 1,160 shares in the last quarter. Hedge funds and other institutional investors own 90.95% of the company’s stock.
Cree (NASDAQ CREE) traded down $0.06 during midday trading on Monday, reaching $34.08. 757,366 shares of the company’s stock traded hands, compared to its average volume of 2,880,000. The company has a quick ratio of 3.61, a current ratio of 4.82 and a debt-to-equity ratio of 0.06. Cree has a 52 week low of $20.50 and a 52 week high of $37.43.
Cree, Inc is a manufacturer of lighting-class light emitting diode (LED) products, lighting products and semiconductor products for power and radio-frequency (RF) applications. The Company’s products are focused for applications, such as indoor and outdoor lighting, video displays, transportation, electronic signs and signals, power supplies, inverters and wireless systems.
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