Zacks: Brokerages Anticipate EMCORE Co. (EMKR) to Announce -$0.04 EPS

Analysts expect EMCORE Co. (NASDAQ:EMKR) to post ($0.04) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for EMCORE’s earnings, with estimates ranging from ($0.06) to ($0.02). EMCORE posted earnings of $0.12 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 133.3%. The firm is expected to announce its next earnings results before the market opens on Tuesday, December 4th.

On average, analysts expect that EMCORE will report full year earnings of ($0.35) per share for the current fiscal year, with EPS estimates ranging from ($0.38) to ($0.31). For the next fiscal year, analysts forecast that the firm will report earnings of ($0.10) per share. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that that provide coverage for EMCORE.

Several equities analysts have recently commented on EMKR shares. Lake Street Capital set a $6.00 target price on EMCORE and gave the company a “buy” rating in a report on Friday, October 5th. ValuEngine raised EMCORE from a “sell” rating to a “hold” rating in a report on Monday, November 26th. Northland Securities lowered EMCORE from an “outperform” rating to a “market perform” rating and set a $5.00 target price for the company. in a report on Friday, August 3rd. B. Riley lowered EMCORE from a “buy” rating to a “neutral” rating and lowered their target price for the company from $6.00 to $5.75 in a report on Friday, November 9th. Finally, Zacks Investment Research lowered EMCORE from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $5.58.

Shares of NASDAQ:EMKR traded up $0.12 during trading on Friday, hitting $4.55. 95,361 shares of the company traded hands, compared to its average volume of 73,038. The firm has a market capitalization of $121.80 million, a PE ratio of 11.67 and a beta of 0.04. EMCORE has a one year low of $4.28 and a one year high of $8.00.

Hedge funds and other institutional investors have recently modified their holdings of the company. GMT Capital Corp acquired a new position in shares of EMCORE during the second quarter worth approximately $138,000. Laurion Capital Management LP acquired a new position in shares of EMCORE during the second quarter worth approximately $254,000. Prudential Financial Inc. boosted its position in shares of EMCORE by 17.0% during the third quarter. Prudential Financial Inc. now owns 66,900 shares of the semiconductor company’s stock worth $317,000 after buying an additional 9,700 shares during the period. LMR Partners LLP acquired a new position in shares of EMCORE during the second quarter worth approximately $465,000. Finally, JPMorgan Chase & Co. boosted its position in shares of EMCORE by 32.3% during the third quarter. JPMorgan Chase & Co. now owns 127,933 shares of the semiconductor company’s stock worth $608,000 after buying an additional 31,218 shares during the period. Institutional investors and hedge funds own 70.59% of the company’s stock.

About EMCORE

EMCORE Corporation, together with its subsidiaries, provides advanced mixed-signal optics products in California. It offers broadband products comprising cable television; laser, receiver, and photodetector component products; radio frequency over glass FTTP products; satellite/microwave communications products; and wireless communications products.

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