Veeco Instruments (VECO) Issues Q1 2019 Earnings Guidance

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Veeco Instruments (NASDAQ:VECO) updated its first quarter 2019 earnings guidance on Monday. The company provided earnings per share guidance of $-0.3–0.1 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $-0.11. The company issued revenue guidance of $85-105 million, compared to the consensus revenue estimate of $98.06 million.

Shares of NASDAQ VECO traded up $0.11 during mid-day trading on Monday, hitting $10.99. 861,200 shares of the company’s stock traded hands, compared to its average volume of 355,825. The company has a current ratio of 3.15, a quick ratio of 2.28 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $512.31 million, a price-to-earnings ratio of -549.50 and a beta of 1.22. Veeco Instruments has a 1 year low of $6.27 and a 1 year high of $20.55.

Several analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Veeco Instruments from a hold rating to a buy rating and set a $8.75 price objective for the company in a research report on Saturday, January 5th. ValuEngine upgraded Veeco Instruments from a sell rating to a hold rating in a research note on Monday, February 4th. Finally, BidaskClub raised Veeco Instruments from a hold rating to a buy rating in a research note on Tuesday, February 5th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Veeco Instruments currently has an average rating of Buy and a consensus target price of $23.38.

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Veeco Instruments Company Profile

Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells, and supports semiconductor process equipment worldwide. It offers metal organic chemical vapor deposition systems; packaging lithography equipment; precision surface processing systems; laser annealing systems; ion beam etch and deposition systems; molecular beam epitaxy systems; 3D wafer inspection systems; and atomic layer deposition and other deposition systems.

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