Brokerages Anticipate Nlight Inc (NASDAQ:LASR) Will Post Quarterly Sales of $43.96 Million

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Wall Street analysts predict that Nlight Inc (NASDAQ:LASR) will announce $43.96 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Nlight’s earnings, with the lowest sales estimate coming in at $43.50 million and the highest estimate coming in at $44.28 million. Nlight posted sales of $51.03 million during the same quarter last year, which suggests a negative year-over-year growth rate of 13.9%. The company is expected to issue its next quarterly earnings results after the market closes on Monday, November 4th.

According to Zacks, analysts expect that Nlight will report full-year sales of $181.29 million for the current financial year, with estimates ranging from $175.10 million to $194.90 million. For the next financial year, analysts forecast that the company will post sales of $209.16 million, with estimates ranging from $189.00 million to $240.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Nlight.

Nlight (NASDAQ:LASR) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). Nlight had a net margin of 2.66% and a return on equity of 2.28%. The company had revenue of $48.05 million for the quarter, compared to analysts’ expectations of $47.79 million. During the same quarter in the prior year, the firm earned $0.14 EPS. Nlight’s quarterly revenue was down 7.1% compared to the same quarter last year.

Several equities analysts recently issued reports on LASR shares. ValuEngine upgraded shares of Nlight from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Zacks Investment Research upgraded shares of Nlight from a “sell” rating to a “hold” rating in a research report on Wednesday, October 9th. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price target (down previously from $19.00) on shares of Nlight in a research report on Monday, October 14th. Craig Hallum reduced their price target on shares of Nlight from $23.00 to $16.00 and set an “in-line” rating on the stock in a research report on Tuesday, August 6th. Finally, Canaccord Genuity reduced their price target on shares of Nlight from $28.00 to $18.00 and set an “in-line” rating on the stock in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $18.57.

Shares of NASDAQ LASR traded down $0.70 during midday trading on Friday, hitting $13.47. 331,082 shares of the company traded hands, compared to its average volume of 323,428. Nlight has a 12-month low of $12.60 and a 12-month high of $26.77. The stock has a 50-day moving average price of $14.86 and a 200 day moving average price of $18.34. The firm has a market cap of $534.04 million, a P/E ratio of 42.09 and a beta of 2.17.

Institutional investors and hedge funds have recently made changes to their positions in the business. NumerixS Investment Technologies Inc purchased a new stake in Nlight in the second quarter worth about $48,000. Meridian Wealth Management LLC purchased a new stake in Nlight in the first quarter worth about $52,000. Bank of Montreal Can purchased a new stake in Nlight in the second quarter worth about $52,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Nlight by 43.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,300 shares of the company’s stock worth $52,000 after purchasing an additional 1,005 shares during the period. Finally, Tower Research Capital LLC TRC purchased a new stake in Nlight in the second quarter worth about $176,000. Institutional investors and hedge funds own 82.20% of the company’s stock.

About Nlight

nLIGHT, Inc designs, develops, and manufactures semiconductor and fiber lasers used in the industrial, microfabrication, and aerospace and defense markets. The company also produces optical fiber products. It markets and sells its products to original equipment manufacturer primarily through direct sales force in the United States, China, South Korea, Germany, and Finland, as well as through various independent sales representatives and distributors in Asia and Europe.

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