Lumentum Holdings Inc. (NASDAQ:LITE) Expected to Post Earnings of $1.13 Per Share

Wall Street brokerages forecast that Lumentum Holdings Inc. (NASDAQ:LITEGet Rating) will post $1.13 earnings per share for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Lumentum’s earnings. The highest EPS estimate is $1.17 and the lowest is $1.10. Lumentum posted earnings of $1.40 per share in the same quarter last year, which would indicate a negative year over year growth rate of 19.3%. The company is scheduled to announce its next earnings report before the market opens on Monday, January 1st.

On average, analysts expect that Lumentum will report full-year earnings of $5.74 per share for the current year, with EPS estimates ranging from $5.65 to $5.85. For the next year, analysts anticipate that the firm will report earnings of $6.68 per share, with EPS estimates ranging from $6.51 to $6.90. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Lumentum.

Lumentum (NASDAQ:LITEGet Rating) last issued its quarterly earnings data on Thursday, February 3rd. The technology company reported $1.28 EPS for the quarter, hitting the consensus estimate of $1.28. The firm had revenue of $446.70 million during the quarter, compared to the consensus estimate of $444.72 million. Lumentum had a return on equity of 17.82% and a net margin of 22.57%. The company’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.68 earnings per share.

Several equities analysts have recently weighed in on LITE shares. Zacks Investment Research cut Lumentum from a “buy” rating to a “hold” rating in a report on Wednesday, April 20th. Craig Hallum decreased their price objective on shares of Lumentum from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, April 14th. Morgan Stanley lifted their price objective on shares of Lumentum from $91.00 to $97.00 and gave the company an “equal weight” rating in a report on Friday, February 4th. Northland Securities lifted their price target on shares of Lumentum from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, March 9th. Finally, StockNews.com lowered shares of Lumentum from a “buy” rating to a “hold” rating in a report on Thursday, April 7th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Lumentum presently has an average rating of “Buy” and a consensus price target of $106.88.

In other Lumentum news, CAO Matthew Joseph Sepe sold 2,302 shares of the company’s stock in a transaction dated Thursday, February 17th. The shares were sold at an average price of $101.27, for a total value of $233,123.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Alan S. Lowe sold 8,809 shares of the company’s stock in a transaction dated Thursday, February 17th. The stock was sold at an average price of $100.80, for a total transaction of $887,947.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,965 shares of company stock valued at $1,912,911. Insiders own 0.30% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC purchased a new stake in shares of Lumentum during the third quarter worth about $2,544,000. New York State Teachers Retirement System grew its stake in Lumentum by 8.8% during the 4th quarter. New York State Teachers Retirement System now owns 104,105 shares of the technology company’s stock valued at $11,011,000 after acquiring an additional 8,410 shares in the last quarter. Kestra Advisory Services LLC grew its stake in Lumentum by 46.0% during the 4th quarter. Kestra Advisory Services LLC now owns 4,976 shares of the technology company’s stock valued at $526,000 after acquiring an additional 1,568 shares in the last quarter. Liontrust Investment Partners LLP purchased a new stake in Lumentum during the 4th quarter valued at about $1,481,000. Finally, Russell Investments Group Ltd. grew its stake in Lumentum by 56.0% during the 4th quarter. Russell Investments Group Ltd. now owns 11,443 shares of the technology company’s stock valued at $1,209,000 after acquiring an additional 4,109 shares in the last quarter. 92.49% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:LITE opened at $81.21 on Monday. The company’s 50-day moving average is $91.91. The company has a quick ratio of 3.55, a current ratio of 3.87 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $5.86 billion, a PE ratio of 16.37 and a beta of 0.83. Lumentum has a 12-month low of $65.67 and a 12-month high of $108.90.

About Lumentum (Get Rating)

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates in two segments, Optical Communications (OpComms) and Commercial Lasers (Lasers). The OpComms segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and data over high-capacity fiber optic cables.

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