Zacks: Analysts Anticipate Orbotech Ltd (ORBK) to Announce $0.44 Earnings Per Share
Brokerages expect Orbotech Ltd (NASDAQ:ORBK) to announce $0.44 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Orbotech’s earnings. Orbotech reported earnings of $0.49 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 10.2%. The business is expected to report its next earnings report before the market opens on Wednesday, May 3rd.
According to Zacks, analysts expect that Orbotech will report full-year earnings of $2.66 per share for the current financial year, with EPS estimates ranging from $2.62 to $2.71. For the next fiscal year, analysts forecast that the firm will post earnings of $3.02 per share, with EPS estimates ranging from $2.80 to $3.23. Zacks’ earnings per share averages are an average based on a survey of research firms that that provide coverage for Orbotech.
Orbotech (NASDAQ:ORBK) last posted its earnings results on Wednesday, February 8th. The electronics maker reported $0.70 EPS for the quarter, missing the Zacks’ consensus estimate of $0.77 by $0.07. Orbotech had a net margin of 9.85% and a return on equity of 16.09%. The business earned $215 million during the quarter, compared to analysts’ expectations of $219.20 million. During the same quarter in the prior year, the firm earned $0.54 EPS. Orbotech’s revenue for the quarter was up 14.2% compared to the same quarter last year.
ORBK has been the topic of a number of analyst reports. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $42.00 target price (up from $35.00) on shares of Orbotech in a research report on Tuesday, February 7th. Zacks Investment Research lowered Orbotech from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 15th. Standpoint Research upgraded Orbotech from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research note on Wednesday, March 8th. Jefferies Group LLC started coverage on Orbotech in a research note on Saturday, December 31st. They issued a “buy” rating and a $41.00 price target for the company. Finally, Supply Chain Market Research LLC lifted their price target on Orbotech from $36.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, February 9th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Orbotech presently has an average rating of “Buy” and an average target price of $35.83.
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Orbotech (NASDAQ:ORBK) traded up 1.09% during midday trading on Friday, reaching $31.51. The company’s stock had a trading volume of 174,364 shares. Orbotech has a 1-year low of $23.55 and a 1-year high of $36.86. The company has a 50 day moving average price of $31.19 and a 200 day moving average price of $31.41. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 18.43 and a beta of 0.81.
A number of institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. boosted its stake in Orbotech by 36.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,616 shares of the electronics maker’s stock valued at $119,000 after buying an additional 968 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its stake in Orbotech by 538.1% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,952 shares of the electronics maker’s stock valued at $165,000 after buying an additional 4,176 shares during the period. Wexford Capital LP bought a new stake in Orbotech during the fourth quarter valued at $200,000. Cutter & CO Brokerage Inc. bought a new stake in Orbotech during the fourth quarter valued at $221,000. Finally, Ellington Management Group LLC bought a new stake in Orbotech during the fourth quarter valued at $257,000. Institutional investors own 70.42% of the company’s stock.
Orbotech Ltd. is a supplier of yield-enhancing and process-enabling solutions for the manufacture of electronics products. The Company provides cutting-edge solutions for use in the manufacture of printed circuit boards (PCBs), flat panel displays (FPDs) and semiconductor devices (SDs). The Company’s segments include Production Solutions for the Electronics Industry, Solar Energy and Recognition Software.
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