Zacks: Analysts Anticipate Lumentum Holdings Inc (LITE) Will Announce Earnings of $0.84 Per Share

Brokerages expect Lumentum Holdings Inc (NASDAQ:LITE) to post $0.84 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Lumentum’s earnings, with estimates ranging from $0.82 to $0.86. Lumentum posted earnings per share of $0.78 during the same quarter last year, which indicates a positive year over year growth rate of 7.7%. The company is expected to report its next quarterly earnings results on Wednesday, May 1st.

On average, analysts expect that Lumentum will report full year earnings of $4.21 per share for the current year, with EPS estimates ranging from $4.06 to $4.55. For the next fiscal year, analysts anticipate that the company will report earnings of $5.02 per share, with EPS estimates ranging from $4.52 to $5.94. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Lumentum.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Tuesday, February 5th. The technology company reported $1.15 EPS for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.15. Lumentum had a net margin of 7.50% and a return on equity of 20.24%. The business had revenue of $373.70 million during the quarter, compared to analysts’ expectations of $365.08 million. During the same quarter in the prior year, the company earned $1.67 EPS. The firm’s quarterly revenue was down 7.6% on a year-over-year basis.

A number of equities analysts recently weighed in on LITE shares. Zacks Investment Research lowered shares of Lumentum from a “buy” rating to a “hold” rating in a research note on Friday, November 16th. ValuEngine raised shares of Lumentum from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. BidaskClub lowered shares of Lumentum from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 8th. Northland Securities reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Lumentum in a research note on Tuesday, November 13th. Finally, UBS Group reduced their target price on shares of Lumentum from $80.00 to $53.00 and set a “buy” rating for the company in a research note on Wednesday, November 14th. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $67.95.

Institutional investors have recently bought and sold shares of the company. BB&T Corp acquired a new position in shares of Lumentum during the 4th quarter worth about $781,000. Eagle Asset Management Inc. lifted its stake in Lumentum by 6.5% in the 3rd quarter. Eagle Asset Management Inc. now owns 850,508 shares of the technology company’s stock valued at $50,987,000 after purchasing an additional 51,728 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Lumentum by 15.9% in the 3rd quarter. Fisher Asset Management LLC now owns 120,562 shares of the technology company’s stock valued at $7,228,000 after purchasing an additional 16,545 shares during the last quarter. Nordea Investment Management AB lifted its stake in Lumentum by 34.7% in the 3rd quarter. Nordea Investment Management AB now owns 66,651 shares of the technology company’s stock valued at $3,996,000 after purchasing an additional 17,177 shares during the last quarter. Finally, James Investment Research Inc. acquired a new stake in Lumentum in the 3rd quarter valued at about $2,231,000.

LITE opened at $44.44 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 4.17 and a quick ratio of 3.24. Lumentum has a 12 month low of $37.00 and a 12 month high of $74.40. The firm has a market capitalization of $3.20 billion, a P/E ratio of 13.72, a PEG ratio of 0.79 and a beta of 0.65.

Lumentum Company Profile

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates through two segments, Optical Communications and Commercial Lasers. The Optical Communications segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and text data over high-capacity fiber optic cables.

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