Zacks: Analysts Anticipate EMCORE Co. (EMKR) to Post -$0.10 EPS

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Analysts expect EMCORE Co. (NASDAQ:EMKR) to post earnings of ($0.10) per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for EMCORE’s earnings, with the highest EPS estimate coming in at ($0.09) and the lowest estimate coming in at ($0.10). EMCORE posted earnings of ($0.08) per share during the same quarter last year, which suggests a negative year-over-year growth rate of 25%. The business is expected to report its next quarterly earnings report on Wednesday, May 1st.

According to Zacks, analysts expect that EMCORE will report full year earnings of ($0.18) per share for the current fiscal year, with EPS estimates ranging from ($0.19) to ($0.17). For the next financial year, analysts forecast that the company will report earnings of $0.03 per share. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow EMCORE.

EMCORE (NASDAQ:EMKR) last announced its earnings results on Wednesday, February 6th. The semiconductor company reported ($0.11) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.11). The business had revenue of $24.00 million during the quarter, compared to analysts’ expectations of $24.01 million. EMCORE had a negative net margin of 26.77% and a negative return on equity of 15.85%.

EMKR has been the topic of a number of analyst reports. B. Riley downgraded shares of EMCORE from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $6.00 to $5.75 in a research note on Friday, November 9th. Lake Street Capital set a $6.00 price objective on shares of EMCORE and gave the company a “buy” rating in a research note on Thursday, December 6th. Finally, ValuEngine raised shares of EMCORE from a “sell” rating to a “hold” rating in a research report on Monday, November 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $5.58.

Institutional investors and hedge funds have recently modified their holdings of the business. Virtu Financial LLC purchased a new stake in EMCORE in the fourth quarter worth approximately $46,000. Perritt Capital Management Inc. bought a new position in shares of EMCORE during the fourth quarter valued at approximately $214,000. Prudential Financial Inc. raised its holdings in EMCORE by 17.0% in the third quarter. Prudential Financial Inc. now owns 66,900 shares of the semiconductor company’s stock worth $317,000 after purchasing an additional 9,700 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in EMCORE by 32.3% in the third quarter. JPMorgan Chase & Co. now owns 127,933 shares of the semiconductor company’s stock worth $608,000 after purchasing an additional 31,218 shares in the last quarter. Finally, California Public Employees Retirement System raised its holdings in EMCORE by 7.5% in the fourth quarter. California Public Employees Retirement System now owns 153,472 shares of the semiconductor company’s stock worth $645,000 after purchasing an additional 10,691 shares in the last quarter. 64.37% of the stock is owned by institutional investors and hedge funds.

NASDAQ:EMKR traded down $0.01 during mid-day trading on Friday, reaching $4.29. 3,387 shares of the company’s stock were exchanged, compared to its average volume of 92,586. EMCORE has a one year low of $3.93 and a one year high of $6.30. The firm has a market cap of $118.15 million, a price-to-earnings ratio of -8.11 and a beta of 0.17.

EMCORE Company Profile

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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