Coherent (COHR) Posts Earnings Results

Coherent (NASDAQ:COHR) posted its earnings results on Wednesday. The scientific and technical instruments company reported $3.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.52 by $0.02, Briefing.com reports. The business had revenue of $477.60 million for the quarter, compared to analyst estimates of $474.21 million. Coherent had a net margin of 12.02% and a return on equity of 28.53%. The business’s quarterly revenue was up 38.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.57 EPS.

Coherent (NASDAQ COHR) traded down $53.65 during trading on Thursday, reaching $195.49. 1,061,326 shares of the company traded hands, compared to its average volume of 551,564. Coherent has a 12-month low of $179.60 and a 12-month high of $329.00. The stock has a market cap of $6,280.63, a P/E ratio of 25.47 and a beta of 0.65. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.13 and a quick ratio of 2.14.

Several equities analysts recently weighed in on the stock. Barclays set a $325.00 target price on shares of Coherent and gave the company a “buy” rating in a report on Thursday. Stifel Nicolaus reduced their target price on shares of Coherent from $330.00 to $310.00 and set a “buy” rating on the stock in a report on Thursday. Needham & Company LLC restated a “buy” rating and set a $294.00 target price (down previously from $330.00) on shares of Coherent in a report on Thursday. Zacks Investment Research upgraded shares of Coherent from a “hold” rating to a “buy” rating and set a $337.00 target price on the stock in a report on Wednesday, January 10th. Finally, Benchmark lifted their target price on shares of Coherent from $290.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $312.22.

In other news, Director Sandeep Vij sold 4,400 shares of the business’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $292.79, for a total value of $1,288,276.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen A. Skaggs sold 500 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $308.97, for a total transaction of $154,485.00. Following the completion of the sale, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $3,398,670. The disclosure for this sale can be found here. Insiders have sold a total of 13,969 shares of company stock worth $4,186,477 in the last ninety days. 1.40% of the stock is currently owned by insiders.

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Coherent Company Profile

Coherent, Inc is a photonics manufacturer. The Company is engaged in designing, manufacturing, servicing and marketing of lasers and related accessories for a range of scientific, commercial and industrial applications. It operates through two segments: Specialty Lasers and Systems (SLS) and Commercial Lasers and Components (CLC).

Earnings History for Coherent (NASDAQ:COHR)

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