Earnings results for Lumentum (NASDAQ:LITE)
Lumentum Holdings Inc. is expected* to report earnings on 08/18/2021 before market open. The report will be for the fiscal Quarter ending Jun 2021. According to Zacks Investment Research, based on 7 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.8. The reported EPS for the same quarter last year was $0.95.
Lumentum last released its earnings data on May 12th, 2021. The technology company reported $1.40 earnings per share for the quarter, meeting the consensus estimate of $1.40. The business had revenue of $419.50 million for the quarter, compared to the consensus estimate of $434.02 million. Its revenue was up 4.1% on a year-over-year basis. Lumentum has generated $4.48 earnings per share over the last year ($4.71 diluted earnings per share) and currently has a price-to-earnings ratio of 17.0. Earnings for Lumentum are expected to decrease by -13.40% in the coming year, from $5.15 to $4.46 per share. Lumentum has confirmed that its next quarterly earnings report will be published on Wednesday, August 18th, 2021. Lumentum will be holding an earnings conference call on Wednesday, August 18th at 8:30 AM Eastern. Interested parties can register for or listen to the call using this link or dial in at 412-317-0088 with passcode “10158822”.
Analyst Opinion on Lumentum (NASDAQ:LITE)
15 Wall Street analysts have issued ratings and price targets for Lumentum in the last 12 months. Their average twelve-month price target is $94.50, predicting that the stock has a possible upside of 17.77%. The high price target for LITE is $120.00 and the low price target for LITE is $80.00. There are currently 5 hold ratings, 9 buy ratings and 1 strong buy rating for the stock, resulting in a consensus rating of “Buy.”
Lumentum has received a consensus rating of Buy. The company’s average rating score is 2.73, and is based on 9 buy ratings, 5 hold ratings, and no sell ratings. According to analysts’ consensus price target of $94.50, Lumentum has a forecasted upside of 17.8% from its current price of $80.24. Lumentum has only been the subject of 3 research reports in the past 90 days.
Dividend Strength: Lumentum (NASDAQ:LITE)
Lumentum does not currently pay a dividend. Lumentum does not have a long track record of dividend growth.
Insiders buying/selling: Lumentum (NASDAQ:LITE)
In the past three months, Lumentum insiders have sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $534,682.00 in company stock. Only 0.32% of the stock of Lumentum is held by insiders. 75.07% of the stock of Lumentum is held by institutions. High institutional ownership can be a signal of strong market trust in this company.
Earnings and Valuation of Lumentum (NASDAQ:LITE
Earnings for Lumentum are expected to decrease by -13.40% in the coming year, from $5.15 to $4.46 per share. The P/E ratio of Lumentum is 17.04, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 18.91. The P/E ratio of Lumentum is 17.04, which means that it is trading at a less expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 51.21. Lumentum has a P/B Ratio of 3.44. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.
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