Materials and photonics company Coherent (NYSE: COHR) will be announcing earnings results this Wednesday after the bell. Here’s what investors should know.
Coherent beat analysts’ revenue expectations last quarter, reporting revenues of $1.81 billion, up 20.5% year on year. It was an exceptional quarter for the company, with revenue guidance for next quarter exceeding analysts’ expectations and an impressive beat of analysts’ EPS guidance for next quarter estimates.
Is Coherent a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Coherent’s revenue to grow 30% year on year, improving from the 16.4% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Coherent has a history of exceeding Wall Street’s expectations.
Looking at Coherent’s peers in the electronic components & manufacturing segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Amphenol delivered year-on-year revenue growth of 55%, beating analysts’ expectations by 5.6%, and TTM Technologies reported revenues up 37.4%, topping estimates by 4.8%. Amphenol traded up 11.1% following the results while TTM Technologies was also up 3.9%.
Read our full analysis of Amphenol’s results here and TTM Technologies’s results here.
There has been positive sentiment among investors in the electronic components & manufacturing segment, with share prices up 6.5% on average over the last month. Coherent is up 5.9% during the same time and is heading into earnings with an average analyst price target of $394.62 (compared to the current share price of $325.40).
WHILE YOU’RE HERE: The Next Palantir? One satellite company captures images of every point on Earth. Every single day. The Pentagon wants it. Hedge funds are using it to beat earnings. You’ve probably never heard of it.
This is what the early days of Palantir looked like before it became a giant. Same playbook. Different technology. If you missed Palantir, you need to see this. Claim The Stock Ticker for Free HERE.
