Somewhat Favorable News Coverage Somewhat Unlikely to Impact Cree (CREE) Stock Price
News stories about Cree (NASDAQ:CREE) have been trending somewhat positive recently, Accern Sentiment Analysis reports. The research group identifies positive and negative media coverage by analyzing more than twenty million news and blog sources in real time. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Cree earned a coverage optimism score of 0.12 on Accern’s scale. Accern also gave media stories about the LED producer an impact score of 45.1890436649166 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Here are some of the media stories that may have effected Accern Sentiment Analysis’s rankings:
- Wine Country eyes day trippers as hotels remain filled with displaced residents (feeds.bizjournals.com)
- NioCorp Signs Agreement for Natural Gas Transport to its Elk Creek Superalloy Materials Project (feeds.benzinga.com)
- Cree launches KBL LED High-Bay Series (semiconductor-today.com)
- Cree Inc (NASDAQ: CREE) – Hot Stock under Review – Alpha Beta Stock (alphabetastock.com)
- Cree Launches Market-Leading KBL LED High-Bay Series … – Business Wire (press release) (businesswire.com)
A number of brokerages have commented on CREE. Deutsche Bank AG upgraded shares of Cree from a “hold” rating to a “buy” rating and upped their price objective for the stock from $26.00 to $45.00 in a research report on Monday. Goldman Sachs Group, Inc. (The) set a $19.00 price target on shares of Cree and gave the company a “sell” rating in a report on Wednesday, October 18th. Williams Capital downgraded shares of Cree from a “hold” rating to a “sell” rating and set a $27.00 price target for the company. in a report on Thursday, October 19th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Cree in a report on Wednesday, October 18th. Finally, Bank of America Corporation increased their price target on shares of Cree from $31.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, October 18th. Seven research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $27.50.
Cree (NASDAQ CREE) traded down $0.07 on Friday, hitting $34.40. 55,286 shares of the company traded hands, compared to its average volume of 1,388,939. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.61 and a current ratio of 4.82. Cree has a twelve month low of $20.50 and a twelve month high of $37.43.
Cree (NASDAQ:CREE) last posted its quarterly earnings results on Tuesday, October 17th. The LED producer reported $0.04 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.04. Cree had a negative net margin of 8.42% and a negative return on equity of 0.44%. The firm had revenue of $360.00 million for the quarter, compared to analyst estimates of $360.01 million. During the same quarter last year, the firm posted $0.09 earnings per share. Cree’s revenue for the quarter was down 3.0% compared to the same quarter last year. equities research analysts anticipate that Cree will post -0.27 EPS for the current year.
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Cree, Inc is a manufacturer of lighting-class light emitting diode (LED) products, lighting products and semiconductor products for power and radio-frequency (RF) applications. The Company’s products are focused for applications, such as indoor and outdoor lighting, video displays, transportation, electronic signs and signals, power supplies, inverters and wireless systems.
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