Coherent (COHR) Releases Earnings Results, Beats Expectations By $0.26 EPS

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Coherent (NASDAQ:COHR) issued its earnings results on Tuesday. The scientific and technical instruments company reported $3.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.96 by $0.26, RTT News reports. Coherent had a return on equity of 28.01% and a net margin of 12.84%. The business had revenue of $461.50 million during the quarter, compared to analysts’ expectations of $460.60 million. During the same quarter in the previous year, the business earned $3.72 EPS. The company’s revenue for the quarter was down 5.9% on a year-over-year basis.

NASDAQ COHR traded down $4.01 on Wednesday, reaching $129.16. The company had a trading volume of 5,291 shares, compared to its average volume of 607,980. The stock has a market cap of $3.28 billion, a PE ratio of 10.33 and a beta of 1.37. Coherent has a 1 year low of $115.53 and a 1 year high of $329.00. The company has a quick ratio of 1.87, a current ratio of 3.28 and a debt-to-equity ratio of 0.34.

A number of analysts have recently issued reports on COHR shares. Longbow Research cut Coherent from a “buy” rating to a “neutral” rating in a report on Tuesday, October 9th. ValuEngine cut Coherent from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. Northcoast Research cut Coherent from a “buy” rating to a “hold” rating in a report on Monday, October 8th. Zacks Investment Research upgraded Coherent from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 25th. Finally, Needham & Company LLC decreased their target price on Coherent from $205.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, August 1st. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $218.00.

In other Coherent news, EVP Mark Stewart Sobey sold 13,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $181.86, for a total value of $2,364,180.00. Following the completion of the transaction, the executive vice president now owns 17,887 shares in the company, valued at approximately $3,252,929.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.97% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its holdings in Coherent by 11.0% in the 2nd quarter. Bank of America Corp DE now owns 176,216 shares of the scientific and technical instruments company’s stock worth $27,564,000 after acquiring an additional 17,451 shares during the period. Value Holdings Management CO. LLC raised its position in shares of Coherent by 13.4% in the 2nd quarter. Value Holdings Management CO. LLC now owns 33,803 shares of the scientific and technical instruments company’s stock valued at $5,288,000 after purchasing an additional 4,000 shares in the last quarter. Robecosam AG raised its position in shares of Coherent by 75.0% in the 3rd quarter. Robecosam AG now owns 70,000 shares of the scientific and technical instruments company’s stock valued at $12,050,000 after purchasing an additional 30,000 shares in the last quarter. Brown Advisory Inc. acquired a new position in shares of Coherent in the 2nd quarter valued at approximately $867,000. Finally, WINTON GROUP Ltd acquired a new position in shares of Coherent in the 2nd quarter valued at approximately $254,000. Hedge funds and other institutional investors own 98.77% of the company’s stock.

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Coherent Company Profile

Coherent, Inc provides lasers and laser-based technology in a range of scientific, commercial, and industrial applications worldwide. It operates through two segments, Specialty Lasers and Systems, and Commercial Lasers and Components. The company designs, manufactures, services, and markets lasers, laser tools, precision optics, and related accessories.

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Earnings History for Coherent (NASDAQ:COHR)

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