Wall Street brokerages predict that Nlight Inc (NASDAQ:LASR) will announce $48.37 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Nlight’s earnings, with the lowest sales estimate coming in at $48.00 million and the highest estimate coming in at $48.90 million. Nlight reported sales of $51.71 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 6.5%. The firm is expected to report its next earnings results on Wednesday, August 14th.
According to Zacks, analysts expect that Nlight will report full-year sales of $196.40 million for the current fiscal year, with estimates ranging from $192.89 million to $203.00 million. For the next year, analysts forecast that the firm will report sales of $235.84 million, with estimates ranging from $224.00 million to $251.00 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Nlight.
Nlight (NASDAQ:LASR) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.05. Nlight had a return on equity of 4.77% and a net margin of 5.13%. The business had revenue of $41.86 million during the quarter, compared to analyst estimates of $42.47 million. During the same period in the prior year, the company earned $0.10 earnings per share. Nlight’s revenue was down 1.4% compared to the same quarter last year.
A number of equities analysts have recently commented on LASR shares. Zacks Investment Research lowered Nlight from a “hold” rating to a “sell” rating in a report on Wednesday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $26.00 price target (down from $27.00) on shares of Nlight in a report on Thursday, May 9th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $25.75.
NASDAQ LASR traded up $0.49 on Thursday, hitting $18.47. 325,727 shares of the stock traded hands, compared to its average volume of 396,711. The stock’s fifty day simple moving average is $20.02. Nlight has a 12 month low of $16.25 and a 12 month high of $43.63. The company has a market cap of $669.05 million, a price-to-earnings ratio of 57.72, a price-to-earnings-growth ratio of 6.89 and a beta of 2.22.
In related news, CFO Ran Bareket sold 5,000 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $24.44, for a total value of $122,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Martinsen sold 6,000 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $25.00, for a total transaction of $150,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,370 shares of company stock worth $713,017. 5.80% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of LASR. Oppenheimer Asset Management Inc. acquired a new position in Nlight during the fourth quarter worth $38,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Nlight by 112.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,295 shares of the company’s stock worth $51,000 after purchasing an additional 1,214 shares during the last quarter. Meridian Wealth Management LLC bought a new stake in shares of Nlight during the first quarter worth $52,000. Citigroup Inc. grew its holdings in shares of Nlight by 34.0% during the fourth quarter. Citigroup Inc. now owns 2,563 shares of the company’s stock worth $46,000 after purchasing an additional 650 shares during the last quarter. Finally, Optimum Investment Advisors bought a new stake in shares of Nlight during the first quarter worth $58,000. Hedge funds and other institutional investors own 78.25% of the company’s stock.
nLIGHT, Inc designs, develops, and manufactures semiconductor and fiber lasers used in the industrial, microfabrication, and aerospace and defense markets. The company also produces optical fiber products. It markets and sells its products to original equipment manufacturer primarily through direct sales force in the United States, China, South Korea, Germany, and Finland, as well as through various independent sales representatives and distributors in Asia and Europe.
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