Lumentum (LITE) Scheduled to Post Quarterly Earnings on Thursday

Lumentum (NASDAQ:LITE - Get Free Report) is set to issue its quarterly earnings data after the market closes on Thursday, November 7th. Analysts expect the company to announce earnings of $0.13 per share for the quarter. Lumentum has set its Q1 guidance at $0.07-$0.17 EPS and its Q1 2025 guidance at 0.070-0.170 EPS.Persons interested in listening to the company's earnings conference call can do so using this link.

Lumentum (NASDAQ:LITE - Get Free Report) last released its quarterly earnings results on Wednesday, August 14th. The technology company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.03. The business had revenue of $308.30 million for the quarter, compared to the consensus estimate of $301.36 million. Lumentum had a negative net margin of 40.21% and a negative return on equity of 4.79%. The company's quarterly revenue was down 16.9% on a year-over-year basis. During the same period last year, the firm earned $0.12 earnings per share. On average, analysts expect Lumentum to post $0 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Lumentum Stock Performance

Shares of NASDAQ:LITE traded down $1.48 during midday trading on Thursday, hitting $63.87. The company had a trading volume of 1,256,135 shares, compared to its average volume of 1,411,100. Lumentum has a 12-month low of $37.99 and a 12-month high of $71.07. The company has a fifty day moving average of $61.46 and a two-hundred day moving average of $52.62. The company has a market cap of $4.32 billion, a price-to-earnings ratio of -12.17, a PEG ratio of 5.68 and a beta of 0.89. The company has a debt-to-equity ratio of 2.61, a current ratio of 5.90 and a quick ratio of 4.43.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on LITE shares. Jefferies Financial Group raised their price objective on Lumentum from $53.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, August 15th. Northland Securities lifted their price target on shares of Lumentum from $40.00 to $45.00 and gave the company a "market perform" rating in a report on Friday, August 16th. Craig Hallum raised their price objective on shares of Lumentum from $65.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, August 15th. Needham & Company LLC upped their target price on shares of Lumentum from $65.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, August 15th. Finally, Barclays raised their price target on Lumentum from $38.00 to $40.00 and gave the company an "underweight" rating in a report on Thursday, August 15th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $60.77.

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 (OpComms) and Commercial Lasers (Lasers). The OpComms segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and data over high-capacity fiber optic cables.