Zacks: Analysts Anticipate Lumentum Holdings Inc. (NASDAQ:LITE) to Announce $1.33 EPS

Equities analysts expect that Lumentum Holdings Inc. (NASDAQ:LITEGet Rating) will announce earnings per share (EPS) of $1.33 for the current quarter, Zacks reports. Five analysts have issued estimates for Lumentum’s earnings, with the lowest EPS estimate coming in at $1.26 and the highest estimate coming in at $1.36. Lumentum reported earnings per share of $1.15 in the same quarter last year, which would suggest a positive year-over-year growth rate of 15.7%. The business is expected to issue its next earnings report on Monday, January 1st.

On average, analysts expect that Lumentum will report full year earnings of $5.91 per share for the current fiscal year, with EPS estimates ranging from $5.78 to $5.95. For the next year, analysts forecast that the company will post earnings of $6.87 per share, with EPS estimates ranging from $6.51 to $7.35. Zacks’ EPS averages are an average based on a survey of analysts that cover Lumentum.

Lumentum (NASDAQ:LITEGet Rating) last released its quarterly earnings results on Wednesday, May 4th. The technology company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.07. Lumentum had a return on equity of 17.57% and a net margin of 11.04%. The firm had revenue of $395.40 million for the quarter, compared to analyst estimates of $390.16 million. During the same quarter last year, the company posted $1.08 earnings per share. The business’s revenue was down 5.7% on a year-over-year basis.

A number of brokerages have weighed in on LITE. B. Riley lowered their price objective on Lumentum from $120.00 to $119.00 in a report on Thursday, May 5th. StockNews.com raised Lumentum from a “hold” rating to a “buy” rating in a report on Friday, May 6th. Susquehanna Bancshares decreased their price target on Lumentum from $120.00 to $110.00 in a research note on Thursday, May 5th. TheStreet lowered Lumentum from a “b” rating to a “c+” rating in a research note on Monday, May 16th. Finally, JPMorgan Chase & Co. raised Lumentum from a “neutral” rating to an “overweight” rating and set a $110.00 price target on the stock in a research note on Wednesday, January 26th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $106.87.

LITE traded up $0.33 during trading on Friday, reaching $87.08. The company’s stock had a trading volume of 748,390 shares, compared to its average volume of 1,263,697. Lumentum has a 52-week low of $77.32 and a 52-week high of $108.90. The company’s fifty day moving average price is $89.60 and its 200-day moving average price is $94.53. The company has a market capitalization of $6.01 billion, a price-to-earnings ratio of 35.40 and a beta of 0.91. The company has a debt-to-equity ratio of 0.76, a quick ratio of 4.35 and a current ratio of 4.69.

In related news, CFO Wajid Ali sold 3,287 shares of Lumentum stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $89.12, for a total transaction of $292,937.44. Following the completion of the transaction, the chief financial officer now directly owns 37,717 shares in the company, valued at approximately $3,361,339.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.32% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Richelieu Gestion PLC acquired a new position in Lumentum in the 1st quarter valued at $32,000. Twin Tree Management LP acquired a new position in Lumentum in the 1st quarter valued at $36,000. Private Capital Group LLC raised its holdings in Lumentum by 4,000.0% in the 1st quarter. Private Capital Group LLC now owns 451 shares of the technology company’s stock valued at $44,000 after acquiring an additional 440 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its holdings in Lumentum by 43.9% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 462 shares of the technology company’s stock valued at $49,000 after acquiring an additional 141 shares during the last quarter. Finally, Mascoma Wealth Management LLC acquired a new stake in shares of Lumentum during the 1st quarter worth $51,000. Institutional investors own 92.49% of the company’s stock.

Lumentum Company Profile (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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