Coherent, Inc. (NASDAQ:COHR) – Research analysts at Northcoast Research dropped their Q2 2018 earnings per share estimates for shares of Coherent in a research note issued on Monday. Northcoast Research analyst T. Hayes now forecasts that the scientific and technical instruments company will post earnings of $3.52 per share for the quarter, down from their previous estimate of $3.56. Northcoast Research has a “Buy” rating and a $314.00 price target on the stock. Northcoast Research also issued estimates for Coherent’s Q3 2018 earnings at $3.79 EPS, Q4 2018 earnings at $4.15 EPS and FY2018 earnings at $14.84 EPS.

Coherent (NASDAQ:COHR) last posted its earnings results on Wednesday, February 7th. The scientific and technical instruments company reported $3.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.52 by $0.02. Coherent had a net margin of 11.79% and a return on equity of 29.82%. The firm had revenue of $477.60 million for the quarter, compared to analysts’ expectations of $474.21 million. During the same quarter last year, the firm earned $2.57 EPS. The company’s quarterly revenue was up 38.0% compared to the same quarter last year.

A number of other research firms have also recently commented on COHR. Needham & Company LLC reaffirmed a “buy” rating and issued a $294.00 price target (down previously from $330.00) on shares of Coherent in a report on Thursday, February 8th. Benchmark lifted their price target on shares of Coherent from $290.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Zacks Investment Research raised shares of Coherent from a “hold” rating to a “buy” rating and set a $337.00 price target on the stock in a report on Wednesday, January 10th. Stifel Nicolaus lifted their price target on shares of Coherent from $290.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Finally, Barclays lifted their price objective on shares of Coherent from $285.00 to $315.00 and gave the company an “overweight” rating in a research note on Wednesday, November 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. Coherent has an average rating of “Buy” and an average target price of $312.22.

Coherent (NASDAQ COHR) opened at $206.18 on Wednesday. Coherent has a 1 year low of $179.60 and a 1 year high of $329.00. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.08 and a current ratio of 3.18. The company has a market cap of $5,186.49, a P/E ratio of 23.48 and a beta of 0.65.

Hedge funds and other institutional investors have recently bought and sold shares of the company. First Republic Investment Management Inc. bought a new stake in shares of Coherent during the 4th quarter worth $208,000. Commerce Bank bought a new stake in shares of Coherent during the 4th quarter worth $226,000. CIBC Asset Management Inc bought a new stake in shares of Coherent during the 4th quarter worth $236,000. Moors & Cabot Inc. bought a new stake in shares of Coherent during the 4th quarter worth $236,000. Finally, DekaBank Deutsche Girozentrale lifted its stake in Coherent by 97.0% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,064 shares of the scientific and technical instruments company’s stock worth $238,000 after purchasing an additional 524 shares during the last quarter. 95.70% of the stock is owned by institutional investors.

In other news, Director Stephen A. Skaggs sold 500 shares of Coherent stock in a transaction on Monday, February 12th. The shares were sold at an average price of $212.27, for a total transaction of $106,135.00. Following the completion of the sale, the director now directly owns 10,500 shares of the company’s stock, valued at approximately $2,228,835. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paul F. Sechrist sold 1,372 shares of Coherent stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $300.00, for a total transaction of $411,600.00. Following the sale, the executive vice president now directly owns 2,497 shares of the company’s stock, valued at $749,100. The disclosure for this sale can be found here. Insiders have sold a total of 8,374 shares of company stock valued at $2,489,093 over the last 90 days. Company insiders own 0.97% of the company’s stock.

Coherent announced that its board has authorized a stock repurchase program on Wednesday, February 7th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the scientific and technical instruments company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

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About Coherent

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).

Earnings History and Estimates for Coherent (NASDAQ:COHR)

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