Wall Street analysts expect Coherent (COHR) to post quarterly earnings of $0.86 per share in its upcoming report, which indicates a year-over-year increase of 62.3%. Revenues are expected to be $1.44 billion, up 19.2% from the year-ago quarter.
Over the last 30 days, there has been a downward revision of 0.9% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
With that in mind, let's delve into the average projections of some Coherent metrics that are commonly tracked and projected by analysts on Wall Street.
According to the collective judgment of analysts, 'Revenues- Materials' should come in at $236.16 million. The estimate suggests a change of -1.2% year over year.
Analysts expect 'Revenues- Networking' to come in at $842.47 million. The estimate indicates a change of +36.2% from the prior-year quarter.
Analysts predict that the 'Revenues- Lasers' will reach $359.34 million. The estimate indicates a year-over-year change of +2.4%.
The collective assessment of analysts points to an estimated 'Revenue by Market- Instrumentation' of $100.73 million. The estimate points to a change of +2.6% from the year-ago quarter.
The combined assessment of analysts suggests that 'Revenue by Market- Communications' will likely reach $835.13 million. The estimate points to a change of +35.6% from the year-ago quarter.
The average prediction of analysts places 'Revenue by Market- Industrial' at $429.76 million. The estimate indicates a year-over-year change of +2%.
Analysts' assessment points toward 'Revenue by Market- Electronics' reaching $72.64 million. The estimate points to a change of -1.3% from the year-ago quarter.
View all Key Company Metrics for Coherent here>>>
Over the past month, shares of Coherent have returned +41.6% versus the Zacks S&P 500 composite's +0.4% change. Currently, COHR carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Coherent Corp. (COHR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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