Zacks: Brokerages Anticipate Luna Innovations Incorporated (LUNA) to Post $0.02 Earnings Per Share

Equities research analysts predict that Luna Innovations Incorporated (NASDAQ:LUNA) will post earnings of $0.02 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Luna Innovations’ earnings, with the lowest EPS estimate coming in at $0.01 and the highest estimate coming in at $0.02. Luna Innovations posted earnings per share of $0.03 in the same quarter last year, which would suggest a negative year over year growth rate of 33.3%. The company is scheduled to announce its next earnings results on Tuesday, March 19th.

Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that cover Luna Innovations.

Luna Innovations (NASDAQ:LUNA) last issued its earnings results on Thursday, November 8th. The scientific and technical instruments company reported $0.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.03. Luna Innovations had a net margin of 34.13% and a return on equity of 4.98%. The company had revenue of $10.69 million for the quarter, compared to analysts’ expectations of $9.90 million.

LUNA has been the topic of several research reports. Dawson James initiated coverage on shares of Luna Innovations in a report on Tuesday, October 2nd. They issued a “buy” rating on the stock. Zacks Investment Research upgraded shares of Luna Innovations from a “sell” rating to a “hold” rating in a report on Tuesday, August 14th. Finally, Northland Securities cut shares of Luna Innovations from an “outperform” rating to a “market perform” rating and set a $4.00 target price on the stock. in a report on Friday, August 3rd.

LUNA stock traded up $0.02 on Friday, hitting $3.52. The company had a trading volume of 58,173 shares, compared to its average volume of 48,529. Luna Innovations has a 12-month low of $1.53 and a 12-month high of $4.32. The stock has a market capitalization of $89.62 million, a P/E ratio of 41.00 and a beta of 0.74.

A number of hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its stake in shares of Luna Innovations by 96.5% during the 1st quarter. JPMorgan Chase & Co. now owns 63,491 shares of the scientific and technical instruments company’s stock worth $206,000 after acquiring an additional 31,184 shares during the last quarter. Alambic Investment Management L.P. boosted its stake in shares of Luna Innovations by 21.1% during the 2nd quarter. Alambic Investment Management L.P. now owns 106,574 shares of the scientific and technical instruments company’s stock worth $318,000 after acquiring an additional 18,563 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Luna Innovations by 106.1% during the 2nd quarter. Acadian Asset Management LLC now owns 128,838 shares of the scientific and technical instruments company’s stock worth $384,000 after acquiring an additional 66,327 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Luna Innovations by 50.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 212,354 shares of the scientific and technical instruments company’s stock worth $688,000 after acquiring an additional 71,055 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Luna Innovations by 6.9% during the 2nd quarter. Janney Montgomery Scott LLC now owns 450,400 shares of the scientific and technical instruments company’s stock worth $1,342,000 after acquiring an additional 29,000 shares during the last quarter. Institutional investors own 23.37% of the company’s stock.

Luna Innovations Company Profile

Luna Innovations Incorporated develops, manufactures, and markets fiber optic sensing, and test and measurement products worldwide. It operates in two segments, Products and Licensing, and Technology Development. The Products and Licensing segment offers fiber optic sensing products, as well as test and measurement products to monitor the integrity of fiber optic network components and sub-assemblies, which include optical vector analyzer, optical backscatter reflectometers, and the Phoenix family of tunable lasers; and distributed sensing systems comprising optical distributed sensor interrogator sensing solution with multiple sensors whose inputs are integrated through a fiber optic network and software.

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