Coherent (NASDAQ:COHR) released its quarterly earnings results on Wednesday, February 7th. The scientific and technical instruments company reported $3.54 earnings per share for the quarter, topping analysts’ consensus estimates of $3.52 by $0.02, Briefing.com reports. Coherent had a net margin of 11.79% and a return on equity of 29.82%. The business had revenue of $477.60 million during the quarter, compared to the consensus estimate of $474.21 million. During the same quarter last year, the company earned $2.57 earnings per share. The business’s quarterly revenue was up 38.0% compared to the same quarter last year.
Coherent (NASDAQ:COHR) traded up $7.81 during trading hours on Thursday, reaching $213.99. The company had a trading volume of 605,700 shares, compared to its average volume of 665,759. The firm has a market capitalization of $5,310.00, a price-to-earnings ratio of 29.85 and a beta of 0.65. Coherent has a 1 year low of $179.60 and a 1 year high of $329.00. The company has a current ratio of 3.18, a quick ratio of 2.08 and a debt-to-equity ratio of 0.42.
In related news, Director Stephen A. Skaggs sold 500 shares of Coherent stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $212.27, for a total value of $106,135.00. Following the transaction, the director now owns 10,500 shares of the company’s stock, valued at approximately $2,228,835. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paul F. Sechrist sold 1,372 shares of Coherent stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $300.00, for a total value of $411,600.00. Following the completion of the transaction, the executive vice president now directly owns 2,497 shares in the company, valued at approximately $749,100. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,874 shares of company stock worth $807,193. 1.40% of the stock is owned by corporate insiders.
Coherent declared that its board has initiated a share repurchase program on Wednesday, February 7th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the scientific and technical instruments company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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Coherent Company Profile
Coherent, Inc is a photonics manufacturer. The Company is engaged in designing, manufacturing, servicing and marketing of lasers and related accessories for a range of scientific, commercial and industrial applications. It operates through two segments: Specialty Lasers and Systems (SLS) and Commercial Lasers and Components (CLC).
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