Coherent (COHR) Receiving Somewhat Favorable News Coverage, Analysis Finds
Press coverage about Coherent (NASDAQ:COHR) has trended somewhat positive on Friday, according to Accern Sentiment. The research group rates the sentiment of news coverage by monitoring more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Coherent earned a news sentiment score of 0.19 on Accern’s scale. Accern also gave press coverage about the scientific and technical instruments company an impact score of 45.4757886284711 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
COHR has been the topic of a number of recent research reports. Susquehanna Bancshares Inc restated a “neutral” rating and issued a $255.00 target price (up previously from $240.00) on shares of Coherent in a research note on Friday, June 30th. ValuEngine downgraded Coherent from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Benchmark Co. restated a “buy” rating and issued a $295.00 target price (up previously from $275.00) on shares of Coherent in a research note on Thursday, July 20th. Needham & Company LLC restated a “buy” rating and issued a $270.00 target price (up previously from $265.00) on shares of Coherent in a research note on Wednesday, August 2nd. Finally, Stifel Nicolaus restated a “buy” rating and issued a $290.00 target price (up previously from $270.00) on shares of Coherent in a research note on Friday, June 30th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $293.22.
Shares of Coherent (COHR) opened at 258.47 on Friday. The stock has a 50 day moving average price of $247.03 and a 200-day moving average price of $236.81. The stock has a market cap of $6.37 billion, a P/E ratio of 38.91 and a beta of 0.78. Coherent has a 52 week low of $100.01 and a 52 week high of $281.00.
Coherent (NASDAQ:COHR) last issued its quarterly earnings results on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.45 by ($0.09). The company had revenue of $464.10 million during the quarter, compared to analyst estimates of $466.90 million. Coherent had a net margin of 11.08% and a return on equity of 24.98%. The business’s revenue was up 112.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.07 EPS. Equities analysts predict that Coherent will post $12.28 EPS for the current fiscal year.
In other Coherent news, Director Stephen A. Skaggs sold 500 shares of Coherent stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $217.58, for a total value of $108,790.00. Following the sale, the director now owns 11,500 shares of the company’s stock, valued at approximately $2,502,170. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John Ambroseo sold 25,000 shares of Coherent stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $250.00, for a total value of $6,250,000.00. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.
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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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