Cree (NASDAQ:CREE) Releases Q1 2020 Earnings Guidance

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Cree (NASDAQ:CREE) updated its first quarter 2020 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.03-0.07 for the period, compared to the Thomson Reuters consensus estimate of $0.10. The company issued revenue guidance of $237-243 million, compared to the consensus revenue estimate of $248.95 million.Cree also updated its Q1 guidance to ($0.07)-(0.03) EPS.

A number of brokerages have issued reports on CREE. BidaskClub downgraded Cree from a buy rating to a hold rating in a research note on Tuesday, August 6th. CIBC restated a market perform rating on shares of Cree in a research note on Thursday, May 2nd. JMP Securities downgraded Cree from an outperform rating to a market perform rating in a research note on Wednesday. Canaccord Genuity restated a buy rating and issued a $72.00 price objective (down previously from $78.00) on shares of Cree in a research note on Wednesday. Finally, BMO Capital Markets reduced their price objective on Cree from $55.00 to $50.00 and set a market perform rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $59.81.

Shares of NASDAQ CREE opened at $47.80 on Friday. Cree has a one year low of $33.72 and a one year high of $69.21. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.48 and a quick ratio of 3.97. The business’s fifty day moving average price is $59.28 and its 200-day moving average price is $58.55. The stock has a market capitalization of $6.13 billion, a PE ratio of 132.78, a P/E/G ratio of 6.12 and a beta of 0.78.

Cree (NASDAQ:CREE) last issued its quarterly earnings results on Tuesday, August 20th. The LED producer reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.09). Cree had a negative net margin of 27.86% and a positive return on equity of 1.21%. The firm had revenue of $251.00 million for the quarter, compared to analysts’ expectations of $248.95 million. During the same period in the prior year, the company earned $0.11 EPS. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. As a group, equities analysts expect that Cree will post 0.48 EPS for the current fiscal year.

Cree Company Profile

Cree, Inc provides lighting-class light emitting diode (LED), lighting, and semiconductor products for power and radio-frequency (RF) applications in the United States, China, Europe, South Korea, Japan, Malaysia, Taiwan, and internationally. It operates in three segments: Wolfspeed, LED Products, and Lighting Products.

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Earnings History and Estimates for Cree (NASDAQ:CREE)

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