Wall Street brokerages expect Lumentum Holdings Inc. (NASDAQ:LITE) to report sales of $255.20 million for the current quarter, Zacks reports. Seven analysts have made estimates for Lumentum Holdings’ earnings, with the highest sales estimate coming in at $260.00 million and the lowest estimate coming in at $246.80 million. Lumentum Holdings reported sales of $258.10 million in the same quarter last year, which indicates a negative year over year growth rate of 1.1%. The company is scheduled to announce its next earnings results before the market opens on Thursday, October 26th.

According to Zacks, analysts expect that Lumentum Holdings will report full-year sales of $255.20 million for the current fiscal year, with estimates ranging from $1.08 billion to $1.42 billion. For the next fiscal year, analysts expect that the company will report sales of $1.36 billion per share, with estimates ranging from $1.15 billion to $1.53 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Lumentum Holdings.

Lumentum Holdings (NASDAQ:LITE) last announced its quarterly earnings data on Wednesday, August 9th. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.18. The business had revenue of $222.70 million during the quarter, compared to the consensus estimate of $229.45 million. Lumentum Holdings had a negative net margin of 10.25% and a positive return on equity of 18.12%. The firm’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.41 earnings per share.

Several equities analysts have recently commented on the stock. Barclays PLC restated a “hold” rating on shares of Lumentum Holdings in a report on Friday, July 14th. Stifel Nicolaus restated a “buy” rating and issued a $73.00 price objective on shares of Lumentum Holdings in a report on Saturday, July 22nd. B. Riley restated a “buy” rating and issued a $77.00 price objective (up from $58.00) on shares of Lumentum Holdings in a report on Tuesday, June 27th. BidaskClub lowered shares of Lumentum Holdings from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, Northland Securities set a $55.00 price objective on shares of Lumentum Holdings and gave the stock a “hold” rating in a report on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Lumentum Holdings currently has an average rating of “Buy” and a consensus price target of $66.31.

COPYRIGHT VIOLATION NOTICE: “Zacks: Brokerages Anticipate Lumentum Holdings Inc. (LITE) Will Announce Quarterly Sales of $255.20 Million” was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/10/21/zacks-brokerages-anticipate-lumentum-holdings-inc-lite-will-announce-quarterly-sales-of-255-20-million.html.

Shares of Lumentum Holdings (LITE) traded down 0.18% during trading on Wednesday, hitting $55.95. 1,409,099 shares of the stock were exchanged. Lumentum Holdings has a one year low of $32.90 and a one year high of $60.20. The company’s market cap is $3.44 billion. The stock’s 50 day moving average price is $56.43 and its 200-day moving average price is $56.43.

In other Lumentum Holdings news, CEO Alan S. Lowe sold 4,364 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $54.59, for a total transaction of $238,230.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Vincent Retort sold 30,706 shares of the stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $54.46, for a total transaction of $1,672,248.76. Following the sale, the chief operating officer now owns 110,770 shares in the company, valued at $6,032,534.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 87,269 shares of company stock worth $4,602,526. 0.76% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in LITE. BlackRock Inc. lifted its holdings in Lumentum Holdings by 151,490.5% during the 1st quarter. BlackRock Inc. now owns 6,441,080 shares of the technology company’s stock worth $343,632,000 after buying an additional 6,436,831 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Lumentum Holdings by 71.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,662,272 shares of the technology company’s stock worth $151,883,000 after buying an additional 1,107,107 shares in the last quarter. Columbus Circle Investors acquired a new stake in Lumentum Holdings during the 2nd quarter worth approximately $34,743,000. Vanguard Group Inc. lifted its holdings in Lumentum Holdings by 10.4% during the 1st quarter. Vanguard Group Inc. now owns 5,208,003 shares of the technology company’s stock worth $277,848,000 after buying an additional 491,391 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC lifted its holdings in Lumentum Holdings by 23.4% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 2,099,760 shares of the technology company’s stock worth $119,791,000 after buying an additional 397,622 shares in the last quarter. Institutional investors own 95.74% of the company’s stock.

About Lumentum Holdings

Lumentum Holdings Inc is a provider of optical and photonic products for a range of end market applications, including data communications (Datacom) and telecommunications (Telecom) networking and commercial lasers (commercial lasers) for manufacturing, inspection and life-science applications. The Company operates in two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers).

Get a free copy of the Zacks research report on Lumentum Holdings (LITE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Lumentum Holdings (NASDAQ:LITE)

Receive News & Stock Ratings for Lumentum Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lumentum Holdings Inc. and related stocks with our FREE daily email newsletter.