Lumentum (LITE) Scheduled to Post Earnings on Thursday

Lumentum (NASDAQ:LITE) will be issuing 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 that wish to register for the company’s earnings conference call can do so using this link.

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

Lumentum Stock Down 0.6 %

Shares of NASDAQ LITE opened at $65.35 on Thursday. Lumentum has a 12 month low of $37.99 and a 12 month high of $71.07. The company has a current ratio of 5.90, a quick ratio of 4.43 and a debt-to-equity ratio of 2.61. The firm has a market capitalization of $4.42 billion, a price-to-earnings ratio of -12.45, a PEG ratio of 5.68 and a beta of 0.89. The business has a 50-day moving average of $61.46 and a 200-day moving average of $52.62.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LITE. JPMorgan Chase & Co. boosted their price objective on Lumentum from $57.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Jefferies Financial Group boosted their price objective on Lumentum from $53.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Raymond James upped their target price on Lumentum from $55.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Bank of America upped their target price on Lumentum from $45.00 to $50.00 and gave the stock an “underperform” rating in a research note on Thursday, August 15th. Finally, Needham & Company LLC upped their target price on Lumentum from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Three analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $60.77.

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 (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.