Lumentum (NASDAQ:LITE) Updates Q1 Earnings Guidance

Lumentum (NASDAQ:LITE) updated its first quarter earnings guidance on Thursday. The company provided earnings per share guidance of $1.12-1.26 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.11. The company issued revenue guidance of $435-455 million, compared to the consensus revenue estimate of $439.80 million.Lumentum also updated its Q1 2020 guidance to $1.12-1.26 EPS.

Lumentum stock traded down $0.93 on Friday, hitting $59.71. The company’s stock had a trading volume of 2,267,623 shares, compared to its average volume of 1,579,799. The stock has a market capitalization of $4.63 billion, a price-to-earnings ratio of 18.09, a P/E/G ratio of 1.21 and a beta of 1.36. The company has a current ratio of 4.53, a quick ratio of 3.20 and a debt-to-equity ratio of 0.56. The firm has a fifty day simple moving average of $54.24. Lumentum has a one year low of $37.00 and a one year high of $69.95.

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

Several equities research analysts have issued reports on LITE shares. TheStreet lowered shares of Lumentum from a b- rating to a c+ rating in a report on Monday, May 13th. Jefferies Financial Group lowered their price target on shares of Lumentum from $75.00 to $60.00 and set a buy rating on the stock in a report on Tuesday, May 21st. UBS Group set a $70.00 price target on shares of Lumentum and gave the company a buy rating in a report on Wednesday, May 8th. Craig Hallum boosted their price target on shares of Lumentum from $60.00 to $75.00 and gave the company a buy rating in a report on Friday. Finally, Piper Jaffray Companies boosted 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $69.13.

About Lumentum

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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