Lumentum (NASDAQ:LITE) Releases Q1 2020 Earnings Guidance

Lumentum (NASDAQ:LITE) issued an update on its first quarter 2020 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.12-1.26 for the period, compared to the Thomson Reuters consensus estimate of $1.11. The company issued revenue guidance of $435-455 million, compared to the consensus revenue estimate of $438.32 million.Lumentum also updated its Q1 guidance to $1.12-1.26 EPS.

Lumentum stock traded down $0.93 during mid-day trading on Friday, reaching $59.71. The company had a trading volume of 2,267,623 shares, compared to its average volume of 1,579,799. The company has a current ratio of 4.53, a quick ratio of 3.20 and a debt-to-equity ratio of 0.56. Lumentum has a 52 week low of $37.00 and a 52 week high of $69.95. The stock’s 50 day simple moving average is $54.24. The stock has a market cap of $4.63 billion, a price-to-earnings ratio of 18.09, a price-to-earnings-growth ratio of 1.21 and a beta of 1.36.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.21. Lumentum had a negative net margin of 2.33% and a positive return on equity of 18.19%. The firm had revenue of $404.60 million during the quarter, compared to the consensus estimate of $383.54 million. During the same period in the prior year, the firm earned $0.95 EPS. The business’s revenue was up 34.4% on a year-over-year basis. On average, equities research analysts predict that Lumentum will post 3.58 EPS for the current year.

A number of analysts have weighed in on LITE shares. Rosenblatt Securities reissued a buy rating and issued a $80.00 price target on shares of Lumentum in a report on Tuesday, May 7th. Piper Jaffray Companies increased their price target on shares of Lumentum from $68.00 to $72.00 and gave the company an overweight rating in a report on Friday. DA Davidson set a $75.00 price objective on shares of Lumentum and gave the stock a buy rating in a report on Monday, May 20th. Barclays raised their price objective on shares of Lumentum from $60.00 to $65.00 and gave the stock an overweight rating in a report on Friday. Finally, BidaskClub raised shares of Lumentum from a hold rating to a buy rating in a report on Saturday. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $69.13.

Lumentum Company Profile

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 through two segments, Optical Communications and Commercial Lasers. The Optical Communications segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and text data over high-capacity fiber optic cables.

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Earnings History and Estimates for Lumentum (NASDAQ:LITE)

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