Materials and photonics company Coherent (NYSE: COHR) will be announcing earnings results this Wednesday after market hours. Here’s what investors should know.
Coherent beat analysts’ revenue expectations last quarter, reporting revenues of $1.69 billion, up 17.5% 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 18.7% year on year, slowing from the 23.9% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to 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 Q1 results, giving us a hint as to what we can expect. TTM Technologies delivered year-on-year revenue growth of 30.4%, beating analysts’ expectations by 6.9%, and Amphenol reported revenues up 58.4%, topping estimates by 7%. TTM Technologies traded up 15.1% following the results while Amphenol was also up 2.5%.
Read our full analysis of TTM Technologies’s results here and Amphenol’s results here.
There has been positive sentiment among investors in the electronic components & manufacturing segment, with share prices up 8.7% on average over the last month. Coherent is up 28.8% during the same time and is heading into earnings with an average analyst price target of $320.26 (compared to the current share price of $326.25).
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