Coherent, Inc. (NASDAQ:COHR) Expected to Announce Quarterly Sales of $376.35 Million

Equities research analysts expect Coherent, Inc. (NASDAQ:COHR) to announce sales of $376.35 million for the current quarter, Zacks reports. Two analysts have provided estimates for Coherent’s earnings, with the lowest sales estimate coming in at $354.30 million and the highest estimate coming in at $398.40 million. Coherent reported sales of $298.33 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 26.2%. The firm is scheduled to announce its next earnings results on Tuesday, August 3rd.

According to Zacks, analysts expect that Coherent will report full year sales of $1.46 billion for the current fiscal year, with estimates ranging from $1.39 billion to $1.52 billion. For the next financial year, analysts anticipate that the business will report sales of $1.67 billion, with estimates ranging from $1.67 billion to $1.68 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Coherent.

Coherent (NASDAQ:COHR) last announced its earnings results on Wednesday, May 12th. The scientific and technical instruments company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.28. The company had revenue of $374.00 million for the quarter, compared to analysts’ expectations of $330.76 million. Coherent had a negative net margin of 12.10% and a positive return on equity of 6.24%. The firm’s quarterly revenue was up 27.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.61 EPS.

A number of research analysts have weighed in on COHR shares. Benchmark lowered shares of Coherent from a “buy” rating to a “hold” rating in a research note on Thursday, February 11th. Barclays began coverage on Coherent in a research report on Tuesday, May 18th. They set an “equal weight” rating on the stock. Finally, Zacks Investment Research cut Coherent from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 13th. Eight research analysts have rated the stock with a hold rating, Coherent presently has an average rating of “Hold” and a consensus target price of $196.00.

COHR traded up $0.96 on Friday, reaching $265.01. 329,437 shares of the company’s stock were exchanged, compared to its average volume of 465,239. Coherent has a twelve month low of $103.00 and a twelve month high of $270.99. The firm has a market capitalization of $6.50 billion, a PE ratio of -40.54 and a beta of 1.63. The company has a current ratio of 3.19, a quick ratio of 2.05 and a debt-to-equity ratio of 0.52. The business has a fifty day moving average price of $262.39.

A number of institutional investors have recently modified their holdings of COHR. Xponance Inc. raised its position in Coherent by 1.0% in the first quarter. Xponance Inc. now owns 4,679 shares of the scientific and technical instruments company’s stock valued at $1,183,000 after purchasing an additional 46 shares during the period. Crossmark Global Holdings Inc. lifted its position in Coherent by 4.2% in the first quarter. Crossmark Global Holdings Inc. now owns 1,986 shares of the scientific and technical instruments company’s stock valued at $502,000 after buying an additional 80 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in Coherent by 0.9% during the first quarter. Treasurer of the State of North Carolina now owns 8,950 shares of the scientific and technical instruments company’s stock worth $2,263,000 after buying an additional 80 shares during the period. State Board of Administration of Florida Retirement System increased its position in shares of Coherent by 0.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 29,514 shares of the scientific and technical instruments company’s stock valued at $7,464,000 after acquiring an additional 80 shares during the last quarter. Finally, AE Wealth Management LLC raised its stake in shares of Coherent by 0.9% in the 4th quarter. AE Wealth Management LLC now owns 9,432 shares of the scientific and technical instruments company’s stock valued at $1,415,000 after acquiring an additional 84 shares during the period. Institutional investors own 89.83% of the company’s stock.

About Coherent

Coherent, Inc provides lasers, laser-based technologies, and laser-based system solutions for a range of scientific, commercial, and industrial research applications. It operates in 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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