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

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Brokerages predict that Coherent, Inc. (NASDAQ:COHR) will report $349.15 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Coherent’s earnings. The highest sales estimate is $351.50 million and the lowest is $346.80 million. Coherent posted sales of $482.34 million in the same quarter last year, which would indicate a negative year over year growth rate of 27.6%. The firm is expected to issue 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 expect that the business will post sales of $1.58 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Coherent.

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

A number of brokerages have recently commented on COHR. Stifel Nicolaus upped their target price on Coherent from $165.00 to $174.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. BidaskClub upgraded Coherent from a “sell” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research downgraded Coherent from a “hold” rating to a “strong sell” rating in a research note on Monday, May 6th. TheStreet upgraded Coherent from a “c+” rating to a “b-” rating in a research note on Thursday, March 21st. Finally, Susquehanna Bancshares downgraded Coherent from a “positive” rating to a “neutral” rating and set a $140.00 target price on the stock. in a research note on Monday, April 29th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. Coherent presently has an average rating of “Hold” and a consensus price target of $169.88.

Shares of COHR opened at $121.78 on Wednesday. Coherent has a 52 week low of $90.10 and a 52 week 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 capitalization of $2.91 billion, a PE ratio of 9.34 and a beta of 1.76.

A number of hedge funds have recently modified their holdings of the business. Bangor Savings Bank boosted its position in Coherent by 1.8% during the first quarter. Bangor Savings Bank now owns 5,825 shares of the scientific and technical instruments company’s stock worth $826,000 after purchasing an additional 102 shares in the last quarter. AlphaOne Investment Services LLC boosted its position in Coherent by 54.9% during the fourth quarter. AlphaOne Investment Services LLC now owns 395 shares of the scientific and technical instruments company’s stock worth $42,000 after purchasing an additional 140 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in Coherent by 5.5% during the first quarter. BNP Paribas Arbitrage SA now owns 2,960 shares of the scientific and technical instruments company’s stock worth $419,000 after purchasing an additional 155 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in Coherent by 348.9% during the first quarter. Rockefeller Capital Management L.P. now owns 202 shares of the scientific and technical instruments company’s stock worth $28,000 after purchasing an additional 157 shares in the last quarter. Finally, Mason Street Advisors LLC boosted its position in Coherent by 1.3% during the first quarter. Mason Street Advisors LLC now owns 12,936 shares of the scientific and technical instruments company’s stock worth $1,833,000 after purchasing an additional 166 shares in the last quarter. Institutional investors own 96.43% of the company’s stock.

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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