Brokerages expect Cray Inc. (NASDAQ:CRAY) to report $71.00 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Cray’s earnings. Cray reported sales of $79.59 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 10.8%. The company is expected to issue its next earnings results on Tuesday, May 7th.
On average, analysts expect that Cray will report full year sales of $481.65 million for the current year, with estimates ranging from $473.30 million to $490.00 million. For the next fiscal year, analysts expect that the firm will post sales of $542.60 million, with estimates ranging from $540.00 million to $545.20 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Cray.
Cray (NASDAQ:CRAY) last announced its earnings results on Tuesday, February 12th. The technology company reported ($0.22) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.15). The firm had revenue of $163.00 million for the quarter, compared to the consensus estimate of $157.90 million. Cray had a negative return on equity of 15.97% and a negative net margin of 15.72%. Cray’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the business posted $0.22 EPS.
A number of equities research analysts recently issued reports on the company. KeyCorp reduced their price target on Cray from $33.00 to $30.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 13th. ValuEngine downgraded Cray from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 2nd. BidaskClub downgraded Cray from a “buy” rating to a “hold” rating in a research report on Tuesday, December 11th. TheStreet raised Cray from a “d+” rating to a “c-” rating in a research report on Thursday, March 14th. Finally, Zacks Investment Research raised Cray from a “sell” rating to a “hold” rating in a research report on Monday, December 31st. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $32.50.
Shares of NASDAQ CRAY opened at $25.63 on Friday. The company has a market cap of $1.04 billion, a PE ratio of -18.05 and a beta of 1.36. Cray has a 1-year low of $18.76 and a 1-year high of $28.60.
In other Cray news, CEO Peter J. Ungaro sold 63,029 shares of the firm’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $22.39, for a total value of $1,411,219.31. Following the sale, the chief executive officer now owns 337,532 shares of the company’s stock, valued at approximately $7,557,341.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Michael Charles Piraino sold 25,000 shares of the firm’s stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $22.20, for a total value of $555,000.00. Following the completion of the sale, the senior vice president now directly owns 63,230 shares in the company, valued at approximately $1,403,706. The disclosure for this sale can be found here. Insiders have sold 175,000 shares of company stock worth $3,932,634 in the last three months. 4.10% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of the business. Thrivent Financial for Lutherans boosted its holdings in shares of Cray by 2.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 29,155 shares of the technology company’s stock valued at $629,000 after purchasing an additional 641 shares in the last quarter. Texas Permanent School Fund boosted its holdings in shares of Cray by 4.0% in the 4th quarter. Texas Permanent School Fund now owns 26,723 shares of the technology company’s stock valued at $577,000 after purchasing an additional 1,034 shares in the last quarter. Neuburgh Advisers LLC boosted its holdings in shares of Cray by 32.9% in the 4th quarter. Neuburgh Advisers LLC now owns 4,848 shares of the technology company’s stock valued at $105,000 after purchasing an additional 1,200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Cray by 83.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,240 shares of the technology company’s stock valued at $70,000 after purchasing an additional 1,478 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Cray by 0.6% in the 4th quarter. Principal Financial Group Inc. now owns 331,540 shares of the technology company’s stock valued at $7,158,000 after purchasing an additional 1,889 shares in the last quarter. 98.27% of the stock is currently owned by hedge funds and other institutional investors.
Cray Company Profile
Cray Inc, together with its subsidiaries, designs, develops, manufactures, markets, and services computing products for high-performance computing, data analytics, and AI markets. It operates through Supercomputing, Storage and Data Management, Maintenance and Support, and Engineering Services and Other segments.
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