$349.15 Million in Sales Expected for Coherent, Inc. (NASDAQ:COHR) This Quarter

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Analysts forecast that Coherent, Inc. (NASDAQ:COHR) will announce $349.15 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Coherent’s earnings, with estimates ranging from $346.80 million to $351.50 million. Coherent posted sales of $482.34 million in the same quarter last year, which suggests a negative year over year growth rate of 27.6%. The business is expected to announce its next earnings report on Tuesday, July 30th.

On average, analysts expect that Coherent will report full year sales of $1.47 billion for the current financial year, with estimates ranging from $1.47 billion to $1.48 billion. For the next year, analysts forecast that the firm will report sales of $1.58 billion. Zacks’ sales averages are a mean average based on a survey of research firms that cover Coherent.

Coherent (NASDAQ:COHR) last issued its earnings results on Tuesday, April 30th. The scientific and technical instruments company reported $1.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.31 by ($0.01). Coherent had a net margin of 11.56% and a return on equity of 17.88%. The company had revenue of $372.90 million during the quarter, compared to analysts’ expectations of $369.11 million. During the same period last year, the business posted $3.37 earnings per share. The company’s quarterly revenue was down 22.5% on a year-over-year basis.

A number of brokerages have issued reports on COHR. BidaskClub raised shares of Coherent from a “sell” rating to a “hold” rating in a report on Tuesday, June 11th. Zacks Investment Research cut shares of Coherent from a “hold” rating to a “strong sell” rating in a report on Monday, May 6th. Stifel Nicolaus increased their target price on shares of Coherent from $165.00 to $174.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Susquehanna Bancshares cut shares of Coherent from a “positive” rating to a “neutral” rating and set a $140.00 price objective for the company. in a research note on Monday, April 29th. Finally, TheStreet raised shares of Coherent from a “c+” rating to a “b-” rating in a research note on Thursday, March 21st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. Coherent has an average rating of “Hold” and a consensus price target of $169.88.

Coherent stock traded up $0.02 during mid-day trading on Wednesday, reaching $125.08. The company had a trading volume of 7,225 shares, compared to its average volume of 293,217. Coherent has a 1 year low of $90.10 and a 1 year high of $192.37. The company has a current ratio of 3.36, a quick ratio of 2.03 and a debt-to-equity ratio of 0.31. The stock has a market cap of $3.04 billion, a PE ratio of 9.67 and a beta of 1.76.

A number of hedge funds have recently added to or reduced their stakes in COHR. Bangor Savings Bank boosted its holdings in shares of Coherent by 1.8% in the 1st quarter. Bangor Savings Bank now owns 5,825 shares of the scientific and technical instruments company’s stock valued at $826,000 after purchasing an additional 102 shares during the last quarter. AlphaOne Investment Services LLC lifted its holdings in shares of Coherent by 54.9% during the 4th quarter. AlphaOne Investment Services LLC now owns 395 shares of the scientific and technical instruments company’s stock valued at $42,000 after acquiring an additional 140 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Coherent by 5.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,960 shares of the scientific and technical instruments company’s stock valued at $419,000 after acquiring an additional 155 shares in the last quarter. Mason Street Advisors LLC lifted its holdings in shares of Coherent by 1.3% during the 1st quarter. Mason Street Advisors LLC now owns 12,936 shares of the scientific and technical instruments company’s stock valued at $1,833,000 after acquiring an additional 166 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Coherent by 3.0% during the 4th quarter. Thrivent Financial for Lutherans now owns 6,173 shares of the scientific and technical instruments company’s stock valued at $653,000 after acquiring an additional 181 shares in the last quarter. 96.43% of the stock is owned by hedge funds and other institutional investors.

Coherent Company Profile

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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