Somewhat Favorable News Coverage Somewhat Unlikely to Impact Coherent (COHR) Share Price
Media stories about Coherent (NASDAQ:COHR) have been trending somewhat positive on Wednesday, Accern Sentiment reports. The research group identifies negative and positive press coverage by monitoring more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Coherent earned a news impact score of 0.22 on Accern’s scale. Accern also assigned headlines about the scientific and technical instruments company an impact score of 46.0868405117782 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Here are some of the headlines that may have impacted Accern Sentiment’s rankings:
- Noteworthy Tuesday Option Activity: AET, URI, COHR (nasdaq.com)
- Coherent Larger Than S&P 500 Component Leggett & Platt (marketnewsvideo.com)
- Analysts Anticipate Coherent, Inc. (COHR) to Announce $3.42 Earnings Per Share (americanbankingnews.com)
- Northcoast Research Analysts Raise Earnings Estimates for Coherent, Inc. (COHR) (americanbankingnews.com)
- Coherent, Inc. (COHR) Given Buy Rating at Northcoast Research (topix.com)
Shares of Coherent (NASDAQ COHR) opened at 265.87 on Wednesday. Coherent has a 1-year low of $100.01 and a 1-year high of $281.00. The company has a market cap of $6.55 billion, a price-to-earnings ratio of 40.03 and a beta of 0.76. The stock has a 50 day moving average price of $230.30 and a 200-day moving average price of $228.71.
Coherent (NASDAQ:COHR) last announced its quarterly earnings results on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 EPS for the quarter, missing the Zacks’ consensus estimate of $3.45 by ($0.09). Coherent had a net margin of 11.08% and a return on equity of 24.98%. The business had revenue of $464.10 million during the quarter, compared to the consensus estimate of $466.90 million. During the same period in the previous year, the business posted $1.07 EPS. The firm’s revenue was up 112.1% on a year-over-year basis. Equities research analysts forecast that Coherent will post $12.27 earnings per share for the current year.
Several brokerages have issued reports on COHR. Longbow Research reaffirmed a “buy” rating and set a $325.00 price target on shares of Coherent in a research note on Monday, June 12th. Benchmark Co. reaffirmed a “buy” rating and set a $290.00 price target (down previously from $295.00) on shares of Coherent in a research note on Tuesday, August 8th. Zacks Investment Research lowered Coherent from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. ValuEngine raised Coherent from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Finally, BidaskClub lowered Coherent from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $291.88.
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In other Coherent news, Director Stephen A. Skaggs sold 500 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $217.58, for a total value of $108,790.00. Following the completion of the sale, the director now owns 11,500 shares of the company’s stock, valued at $2,502,170. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO John Ambroseo sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $250.00, for a total transaction of $6,250,000.00. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.
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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