Brokerages predict that Cray Inc (NASDAQ:CRAY) will post $59.50 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Cray’s earnings. The lowest sales estimate is $59.00 million and the highest is $60.00 million. Cray posted sales of $77.45 million during the same quarter last year, which would indicate a negative year over year growth rate of 23.2%. The company is expected to issue its next quarterly earnings report on Monday, November 6th.

On average, analysts expect that Cray will report full-year sales of $59.50 million for the current financial year, with estimates ranging from $400.00 million to $400.20 million. For the next financial year, analysts expect that the business will report sales of $450.55 million per share, with estimates ranging from $440.00 million to $461.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Cray.

Cray (NASDAQ:CRAY) last posted its earnings results on Thursday, July 27th. The technology company reported ($0.20) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.54) by $0.34. Cray had a negative return on equity of 1.03% and a net margin of 0.47%. The firm had revenue of $87.10 million for the quarter, compared to analysts’ expectations of $60.18 million. During the same period in the previous year, the firm earned ($0.29) earnings per share. The business’s revenue was down 13.1% compared to the same quarter last year.

CRAY has been the topic of several recent analyst reports. Zacks Investment Research upgraded Cray from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. BidaskClub downgraded Cray from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. ValuEngine upgraded Cray from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $26.00 price target on shares of Cray in a report on Wednesday, August 16th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. Cray has a consensus rating of “Hold” and a consensus price target of $24.50.

Hedge funds and other institutional investors have recently modified their holdings of the company. First Interstate Bank raised its holdings in shares of Cray by 17.7% in the first quarter. First Interstate Bank now owns 6,065 shares of the technology company’s stock worth $133,000 after buying an additional 910 shares during the period. State of Alaska Department of Revenue raised its holdings in shares of Cray by 77.3% in the second quarter. State of Alaska Department of Revenue now owns 7,979 shares of the technology company’s stock worth $146,000 after buying an additional 3,479 shares during the period. Alambic Investment Management L.P. purchased a new stake in shares of Cray in the first quarter worth approximately $208,000. Mason Street Advisors LLC raised its holdings in shares of Cray by 7.0% in the first quarter. Mason Street Advisors LLC now owns 9,525 shares of the technology company’s stock worth $209,000 after buying an additional 621 shares during the period. Finally, Municipal Employees Retirement System of Michigan raised its holdings in shares of Cray by 3.6% in the second quarter. Municipal Employees Retirement System of Michigan now owns 9,620 shares of the technology company’s stock worth $177,000 after buying an additional 330 shares during the period. Hedge funds and other institutional investors own 96.23% of the company’s stock.

Cray (NASDAQ CRAY) traded down 2.69% during trading on Wednesday, hitting $18.10. The stock had a trading volume of 238,658 shares. Cray has a 12 month low of $16.10 and a 12 month high of $25.32. The stock has a 50 day moving average price of $19.13 and a 200-day moving average price of $18.94. The stock has a market cap of $726.84 million, a price-to-earnings ratio of 270.15 and a beta of 1.66.

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About Cray

Cray Inc is engaged in designing, developing, manufacturing, marketing and servicing the high performance computing (HPC) market, primarily categories of systems known as supercomputers. The Company’s segments include Supercomputing, Storage and Data Management, Maintenance and Support, and Engineering Services and Other.

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