Cray Inc. to Post FY2016 Earnings of $0.26 Per Share, Craig Hallum Forecasts (CRAY)
Cray Inc. (NASDAQ:CRAY) – Equities research analysts at Craig Hallum decreased their FY2016 earnings per share estimates for shares of Cray in a research report issued to clients and investors on Tuesday. Craig Hallum analyst C. Bennett now forecasts that the firm will earn $0.26 per share for the year, down from their prior estimate of $0.52. Craig Hallum also issued estimates for Cray’s Q4 2016 earnings at $1.31 EPS and FY2017 earnings at $0.38 EPS.
Cray (NASDAQ:CRAY) last posted its quarterly earnings data on Monday, November 7th. The company reported ($0.49) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.34) by $0.15. Cray had a negative return on equity of 2.19% and a negative net margin of 3.79%. The firm earned $77.50 million during the quarter, compared to the consensus estimate of $79.53 million. During the same period in the prior year, the firm posted $0.48 EPS. The firm’s quarterly revenue was down 59.5% on a year-over-year basis.
Other equities analysts have also recently issued research reports about the company. Stifel Nicolaus cut their price target on Cray from $49.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, August 3rd. Needham & Company LLC upgraded Cray from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research note on Tuesday. Zacks Investment Research upgraded Cray from a “sell” rating to a “hold” rating in a research note on Tuesday, October 4th. KeyCorp lowered their price objective on Cray from $41.00 to $35.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 3rd. Finally, Pacific Crest assumed coverage on Cray in a research note on Thursday, July 28th. They issued an “overweight” rating and a $41.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $35.57.
Shares of Cray (NASDAQ:CRAY) opened at 19.85 on Thursday. The stock has a 50 day moving average price of $21.74 and a 200-day moving average price of $27.08. Cray has a 1-year low of $16.77 and a 1-year high of $43.79. The company’s market cap is $793.36 million.
In related news, SVP Michael Charles Piraino sold 15,000 shares of the stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $21.97, for a total transaction of $329,550.00. Following the sale, the senior vice president now directly owns 63,937 shares in the company, valued at approximately $1,404,695.89. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Charles A. Morreale sold 6,455 shares of the stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $19.50, for a total value of $125,872.50. Following the sale, the senior vice president now owns 89,565 shares in the company, valued at $1,746,517.50. The disclosure for this sale can be found here. Corporate insiders own 5.00% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Institutional Trust Company N.A. raised its position in shares of Cray by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,000,267 shares of the company’s stock worth $41,921,000 after buying an additional 5,584 shares during the last quarter. Aperio Group LLC purchased a new position in shares of Cray during the first quarter worth approximately $252,000. Systematic Financial Management LP raised its position in shares of Cray by 51.4% in the second quarter. Systematic Financial Management LP now owns 58,555 shares of the company’s stock worth $1,751,000 after buying an additional 19,875 shares during the last quarter. PineBridge Investments L.P. raised its position in shares of Cray by 4.0% in the second quarter. PineBridge Investments L.P. now owns 5,169 shares of the company’s stock worth $154,000 after buying an additional 198 shares during the last quarter. Finally, Bank of Montreal Can purchased a new position in shares of Cray during the second quarter worth approximately $202,000. Hedge funds and other institutional investors own 89.66% of the company’s stock.
Cray Inc designs, develops, manufactures, markets and services the high-end of the high performance computing (HPC) market, primarily categories of systems, known as supercomputers and provides storage and data analytics solutions. The Company provides software, system maintenance, support services and engineering services related to supercomputer systems.
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