$0.66 EPS Expected for Lumentum Holdings (LITE) This Quarter

Analysts forecast that Lumentum Holdings (NASDAQ:LITE) will report $0.66 earnings per share for the current quarter, Zacks reports. Six analysts have made estimates for Lumentum’s earnings, with the highest EPS estimate coming in at $0.74 and the lowest estimate coming in at $0.62. Lumentum reported earnings per share of $0.39 during the same quarter last year, which suggests a positive year-over-year growth rate of 69.2%. The firm is scheduled to report its next quarterly earnings results on Wednesday, August 8th.

On average, analysts expect that Lumentum will report full year earnings of $3.53 per share for the current financial year, with EPS estimates ranging from $3.50 to $3.56. For the next financial year, analysts forecast that the firm will post earnings of $4.19 per share, with EPS estimates ranging from $3.50 to $4.90. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Lumentum.

Lumentum (NASDAQ:LITE) last announced its earnings results on Wednesday, May 2nd. The technology company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.07. Lumentum had a return on equity of 23.35% and a net margin of 13.63%. The firm had revenue of $299.00 million during the quarter, compared to analyst estimates of $292.30 million. During the same period last year, the firm posted $0.49 EPS. The business’s revenue was up 16.8% compared to the same quarter last year.

LITE has been the subject of several research analyst reports. Zacks Investment Research lowered Lumentum from a “hold” rating to a “sell” rating in a research report on Saturday, January 27th. DA Davidson raised their target price on Lumentum to $101.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Morgan Stanley set a $60.00 price target on Lumentum and gave the stock a “hold” rating in a research note on Friday, March 9th. MKM Partners cut their price target on Lumentum to $62.00 and set a “buy” rating for the company in a research note on Tuesday, January 23rd. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $79.00 price target on shares of Lumentum in a research note on Thursday, March 15th. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $81.29.

In other Lumentum news, CFO Aaron Tachibana sold 1,697 shares of the firm’s stock in a transaction dated Thursday, May 17th. The stock was sold at an average price of $63.40, for a total value of $107,589.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Judy G. Hamel sold 541 shares of the firm’s stock in a transaction dated Thursday, May 17th. The stock was sold at an average price of $63.34, for a total value of $34,266.94. The disclosure for this sale can be found here. Insiders have sold a total of 55,116 shares of company stock valued at $3,507,810 in the last quarter. 0.76% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of LITE. Louisiana State Employees Retirement System boosted its stake in Lumentum by 6.7% in the 4th quarter. Louisiana State Employees Retirement System now owns 26,600 shares of the technology company’s stock worth $1,301,000 after purchasing an additional 1,680 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Lumentum by 6.6% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 341,214 shares of the technology company’s stock worth $16,686,000 after purchasing an additional 21,019 shares during the period. Westpac Banking Corp boosted its stake in Lumentum by 1,169.7% in the 4th quarter. Westpac Banking Corp now owns 263,138 shares of the technology company’s stock worth $12,867,000 after purchasing an additional 242,414 shares during the period. Fox Run Management L.L.C. bought a new position in Lumentum in the 4th quarter worth about $846,000. Finally, Rothschild Investment Corp IL bought a new position in Lumentum in the 4th quarter worth about $1,417,000.

Shares of Lumentum traded up $0.10, hitting $62.50, during trading hours on Monday, MarketBeat Ratings reports. 684,485 shares of the company’s stock traded hands, compared to its average volume of 2,340,740. Lumentum has a 12-month low of $41.95 and a 12-month high of $74.40. The firm has a market cap of $3.91 billion and a PE ratio of 39.31. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.56 and a quick ratio of 4.81.

About Lumentum

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. It operates through two segments, Optical Communications and Commercial Lasers. The Optical Communications segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and text data over high-capacity fiber optic cables.

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Earnings History and Estimates for Lumentum (NASDAQ:LITE)

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