Coherent, Inc. (NASDAQ:COHR) Expected to Post Quarterly Sales of $312.77 Million

Wall Street brokerages forecast that Coherent, Inc. (NASDAQ:COHR) will announce sales of $312.77 million for the current quarter, according to Zacks. Three analysts have provided estimates for Coherent’s earnings. The lowest sales estimate is $308.00 million and the highest is $315.30 million. Coherent reported sales of $383.15 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 18.4%. The company is scheduled to report its next quarterly earnings report on Tuesday, February 4th.

On average, analysts expect that Coherent will report full year sales of $1.40 billion for the current financial year, with estimates ranging from $1.36 billion to $1.43 billion. For the next fiscal year, analysts anticipate that the company will report sales of $1.60 billion, with estimates ranging from $1.60 billion to $1.61 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Coherent.

Coherent (NASDAQ:COHR) last posted its quarterly earnings results on Tuesday, November 5th. The scientific and technical instruments company reported $0.89 EPS for the quarter, missing the Zacks’ consensus estimate of $0.96 by ($0.07). Coherent had a net margin of 3.76% and a return on equity of 8.95%. The firm had revenue of $335.50 million for the quarter, compared to the consensus estimate of $329.12 million. During the same quarter in the prior year, the company earned $3.22 earnings per share. The company’s quarterly revenue was down 27.3% compared to the same quarter last year.

Several brokerages have commented on COHR. Benchmark upped their price objective on shares of Coherent from $175.00 to $182.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. ValuEngine lowered shares of Coherent from a “buy” rating to a “hold” rating in a report on Monday, October 21st. BidaskClub upgraded shares of Coherent from a “hold” rating to a “buy” rating in a report on Saturday. Susquehanna Bancshares upgraded shares of Coherent from a “neutral” rating to a “positive” rating and upped their price objective for the stock from $130.00 to $200.00 in a report on Monday, December 16th. Finally, Zacks Investment Research lowered shares of Coherent from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $177.20.

In other Coherent news, Director Stephen A. Skaggs sold 1,500 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $157.58, for a total value of $236,370.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.25% of the stock is currently owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in COHR. Invesco Ltd. grew its position in shares of Coherent by 407.0% in the 2nd quarter. Invesco Ltd. now owns 637,904 shares of the scientific and technical instruments company’s stock worth $86,991,000 after buying an additional 512,094 shares during the period. Westfield Capital Management Co. LP purchased a new stake in Coherent during the 2nd quarter valued at about $32,405,000. Victory Capital Management Inc. grew its position in Coherent by 18.2% during the 2nd quarter. Victory Capital Management Inc. now owns 1,194,882 shares of the scientific and technical instruments company’s stock valued at $162,946,000 after purchasing an additional 183,600 shares during the last quarter. Nuveen Asset Management LLC purchased a new stake in Coherent during the 2nd quarter valued at about $10,830,000. Finally, Nomura Holdings Inc. purchased a new stake in Coherent during the 3rd quarter valued at about $9,755,000. 99.32% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:COHR traded up $3.08 during midday trading on Friday, reaching $172.92. 174,334 shares of the stock traded hands, compared to its average volume of 210,827. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.71 and a current ratio of 4.56. Coherent has a 12 month low of $107.18 and a 12 month high of $173.92. The stock has a market capitalization of $4.10 billion, a P/E ratio of 35.37 and a beta of 1.82. The company has a fifty day moving average of $157.55 and a 200 day moving average of $149.44.

About Coherent

Coherent, Inc provides lasers, laser-based technologies, and laser-based system solutions for a range of scientific, commercial, and industrial applications. It operates through two segments, OEM Laser Sources and Industrial Lasers & Systems. The company designs, manufactures, markets, and services lasers, laser tools, precision optics, and related accessories; and laser measurement and control products.

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