Luminex Co. (NASDAQ:LMNX) Expected to Announce Quarterly Sales of $81.63 Million
Equities research analysts expect Luminex Co. (NASDAQ:LMNX) to report sales of $81.63 million for the current quarter, Zacks reports. Four analysts have made estimates for Luminex’s earnings, with estimates ranging from $80.68 million to $82.55 million. Luminex reported sales of $72.45 million during the same quarter last year, which would suggest a positive year over year growth rate of 12.7%. The firm is scheduled to report its next quarterly earnings report on Monday, November 4th.
On average, analysts expect that Luminex will report full year sales of $340.33 million for the current fiscal year, with estimates ranging from $339.27 million to $341.50 million. For the next financial year, analysts expect that the business will report sales of $376.75 million, with estimates ranging from $366.79 million to $390.35 million. Zacks’ sales averages are an average based on a survey of research analysts that follow Luminex.
Luminex (NASDAQ:LMNX) last issued its quarterly earnings results on Wednesday, July 31st. The medical instruments supplier reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.09). Luminex had a negative return on equity of 0.78% and a negative net margin of 0.80%. The firm had revenue of $83.06 million for the quarter, compared to the consensus estimate of $81.61 million. During the same period last year, the firm earned $0.15 EPS. The company’s revenue for the quarter was up 4.4% on a year-over-year basis.
LMNX stock traded down $0.41 during mid-day trading on Friday, hitting $20.48. 153,435 shares of the stock were exchanged, compared to its average volume of 287,940. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.74 and a quick ratio of 2.45. The firm’s fifty day simple moving average is $20.62. Luminex has a 12 month low of $19.47 and a 12 month high of $30.73. The company has a market cap of $922.56 million, a PE ratio of 42.67 and a beta of 0.77.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Thursday, September 26th will be issued a $0.09 dividend. The ex-dividend date is Wednesday, September 25th. This represents a $0.36 annualized dividend and a dividend yield of 1.76%. This is an increase from Luminex’s previous quarterly dividend of $0.06. Luminex’s payout ratio is currently 50.00%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Luminex by 4.2% in the second quarter. BlackRock Inc. now owns 6,783,282 shares of the medical instruments supplier’s stock worth $140,006,000 after buying an additional 271,981 shares during the period. Vanguard Group Inc. increased its holdings in shares of Luminex by 0.8% in the second quarter. Vanguard Group Inc. now owns 4,495,475 shares of the medical instruments supplier’s stock worth $92,787,000 after buying an additional 34,902 shares during the period. RGM Capital LLC increased its holdings in shares of Luminex by 19.8% in the second quarter. RGM Capital LLC now owns 3,060,317 shares of the medical instruments supplier’s stock worth $63,165,000 after buying an additional 505,040 shares during the period. Neuberger Berman Group LLC increased its holdings in shares of Luminex by 11.0% in the first quarter. Neuberger Berman Group LLC now owns 1,006,558 shares of the medical instruments supplier’s stock worth $23,162,000 after buying an additional 99,655 shares during the period. Finally, Norges Bank purchased a new position in shares of Luminex in the fourth quarter worth about $22,764,000. Hedge funds and other institutional investors own 82.49% of the company’s stock.
Luminex Corporation develops, manufactures, and sells proprietary biological testing technologies and products for the diagnostics, pharmaceutical, and research industries worldwide. Its products include Luminex 100/200 that integrates fluidics, optics, and digital signal processing; FLEXMAP 3D system for use as a general laboratory instrument; MAGPIX system, a multiplexing analyzer for qualitative and quantitative analysis of proteins and nucleic acids; ARIES system, a sample to answer real-time PCR platform; ARIES M1 system, a single-module version of the ARIES System; and VERIGENE system, a semi-automated, multiplex, molecular analysis system for the clinical diagnostics market.
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