Luminex Corporation (LMNX) Expected to Announce Earnings of $0.11 Per Share
Brokerages expect Luminex Corporation (NASDAQ:LMNX) to post earnings per share of $0.11 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Luminex Corporation’s earnings, with the highest EPS estimate coming in at $0.12 and the lowest estimate coming in at $0.09. Luminex Corporation posted earnings per share of ($0.08) during the same quarter last year, which would suggest a positive year-over-year growth rate of 237.5%. The business is scheduled to report its next earnings results on Monday, February 5th.
According to Zacks, analysts expect that Luminex Corporation will report full-year earnings of $0.49 per share for the current financial year. For the next year, analysts anticipate that the company will report earnings of $0.65 per share, with EPS estimates ranging from $0.62 to $0.67. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Luminex Corporation.
Luminex Corporation (NASDAQ:LMNX) last announced its quarterly earnings results on Monday, October 30th. The medical instruments supplier reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.06. The business had revenue of $74.14 million for the quarter, compared to analyst estimates of $74.38 million. Luminex Corporation had a return on equity of 6.01% and a net margin of 9.52%. Luminex Corporation’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.21 EPS.
Several brokerages recently commented on LMNX. TheStreet raised Luminex Corporation from a “c+” rating to a “b-” rating in a research note on Wednesday, November 1st. Jefferies Group LLC reissued a “hold” rating and issued a $21.00 price objective on shares of Luminex Corporation in a research note on Friday, October 20th. ValuEngine raised Luminex Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Zacks Investment Research raised Luminex Corporation from a “hold” rating to a “strong-buy” rating and set a $22.00 price objective on the stock in a research note on Thursday, August 24th. Finally, BidaskClub lowered Luminex Corporation from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a strong buy rating to the stock. Luminex Corporation presently has a consensus rating of “Hold” and a consensus price target of $20.00.
Shares of Luminex Corporation (LMNX) traded down $0.23 during mid-day trading on Friday, reaching $21.51. The company had a trading volume of 252,210 shares, compared to its average volume of 231,294. The firm has a market cap of $947.60, a price-to-earnings ratio of 37.09, a price-to-earnings-growth ratio of 2.70 and a beta of 0.18. Luminex Corporation has a twelve month low of $17.68 and a twelve month high of $22.27.
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In other news, Director G Walter Loewenbaum II sold 50,000 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $21.79, for a total transaction of $1,089,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert J. Cresci sold 19,631 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $18.98, for a total value of $372,596.38. Following the completion of the sale, the director now owns 260,358 shares of the company’s stock, valued at approximately $4,941,594.84. The disclosure for this sale can be found here. Insiders own 6.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nine Chapters Capital Management LLC bought a new stake in shares of Luminex Corporation in the third quarter worth about $461,000. State Street Corp increased its holdings in shares of Luminex Corporation by 13.0% in the first quarter. State Street Corp now owns 1,009,789 shares of the medical instruments supplier’s stock worth $18,548,000 after acquiring an additional 116,351 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Luminex Corporation by 9.9% in the first quarter. Bank of America Corp DE now owns 322,154 shares of the medical instruments supplier’s stock worth $5,917,000 after acquiring an additional 29,107 shares in the last quarter. Teachers Advisors LLC increased its holdings in shares of Luminex Corporation by 7.9% in the second quarter. Teachers Advisors LLC now owns 94,401 shares of the medical instruments supplier’s stock worth $1,994,000 after acquiring an additional 6,912 shares in the last quarter. Finally, Citigroup Inc. increased its holdings in shares of Luminex Corporation by 20.6% in the second quarter. Citigroup Inc. now owns 44,906 shares of the medical instruments supplier’s stock worth $948,000 after acquiring an additional 7,658 shares in the last quarter. Institutional investors and hedge funds own 76.84% of the company’s stock.
Luminex Corporation Company Profile
Luminex Corporation develops, manufactures and sells biological testing technologies with applications throughout the diagnostics, pharmaceutical and life sciences industries. The Company’s products are focused on the molecular diagnostic testing market, which includes human genetics, personalized medicine and infectious disease segments.
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