Coherent (COHR) Posts Earnings Results, Beats Expectations By $0.02 EPS
Coherent (NASDAQ:COHR) released its quarterly earnings data on Wednesday. The scientific and technical instruments company reported $3.54 earnings per share for the quarter, beating analysts’ consensus estimates of $3.52 by $0.02, Briefing.com reports. The firm had revenue of $477.60 million during the quarter, compared to analyst estimates of $474.21 million. Coherent had a return on equity of 28.53% and a net margin of 12.02%. The business’s quarterly revenue was up 38.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.57 earnings per share.
Shares of Coherent (NASDAQ:COHR) opened at $225.39 on Thursday. Coherent has a 52 week low of $179.60 and a 52 week high of $329.00. The company has a market capitalization of $6,280.63, a price-to-earnings ratio of 26.81 and a beta of 0.65. The company has a quick ratio of 2.14, a current ratio of 3.13 and a debt-to-equity ratio of 0.51.
In related news, VP Bret Dimarco sold 1,195 shares of the firm’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $301.89, for a total value of $360,758.55. Following the completion of the sale, the vice president now owns 2,198 shares of the company’s stock, valued at $663,554.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen A. Skaggs sold 500 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $308.97, for a total value of $154,485.00. Following the completion of the sale, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $3,398,670. The disclosure for this sale can be found here. Insiders sold 13,969 shares of company stock valued at $4,186,477 in the last ninety days. 1.40% of the stock is currently owned by insiders.
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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