Coherent (NASDAQ:COHR) released its earnings results on Wednesday. The scientific and technical instruments company reported $3.54 EPS for the quarter, topping analysts’ consensus estimates of $3.52 by $0.02, Briefing.com reports. Coherent had a net margin of 12.02% and a return on equity of 28.53%. The business had revenue of $477.60 million during the quarter, compared to analysts’ expectations of $474.21 million. During the same quarter in the previous year, the company earned $2.57 earnings per share. The company’s quarterly revenue was up 38.0% on a year-over-year basis.
Shares of Coherent (NASDAQ:COHR) traded down $47.93 during mid-day trading on Thursday, hitting $201.21. 1,308,558 shares of the stock traded hands, compared to its average volume of 582,109. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.14 and a current ratio of 3.13. Coherent has a 52-week low of $179.60 and a 52-week high of $329.00. The firm has a market cap of $6,280.63, a price-to-earnings ratio of 25.47 and a beta of 0.65.
Coherent declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 7th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the scientific and technical instruments company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
In other Coherent news, Director Stephen A. Skaggs sold 500 shares of the stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $308.97, for a total transaction of $154,485.00. Following the sale, the director now directly owns 11,000 shares in the company, valued at approximately $3,398,670. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Sandeep Vij sold 4,400 shares of the stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $292.79, for a total transaction of $1,288,276.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,969 shares of company stock worth $4,186,477. Company insiders own 1.40% of the company’s stock.
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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).
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