During the recent session, Coherent Corp (NYSE:COHR)’s traded shares were 0.59 million, with the beta value of the company hitting 1.66. At the last check today, the stock’s price was $61.72, reflecting an intraday loss of -0.42% or -$0.26. The 52-week high for the COHR share is $80.93, that puts it down -31.12 from that peak though still a striking 53.87% gain since the share price plummeted to a 52-week low of $28.47. The company’s market capitalization is $9.41B, and the average intraday trading volume over the past 10 days was 2.62 million shares, and the average trade volume was 2.12 million shares over the past three months.
Coherent Corp (COHR) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 1.80. COHR has a Sell rating from 0 analyst(s) out of 19 analysts who have looked at this stock. 4 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 15 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be 0.59.
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Coherent Corp (NYSE:COHR) trade information
Coherent Corp (COHR) registered a -0.42% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -0.42% in intraday trading to $61.72, hitting a weekly high. The stock’s 5-day price performance is 4.73%, and it has moved by -19.59% in 30 days. Based on these gigs, the overall price performance for the year is 30.74%. The short interest in Coherent Corp (NYSE:COHR) is 5.57 million shares and it means that shorts have 3.22 day(s) to cover.
The consensus price target of analysts on Wall Street is $76, which implies an increase of 18.79% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $45 and $100 respectively. As a result, COHR is trading at a discount of -62.02% off the target high and 27.09% off the low.
Coherent Corp (COHR) estimates and forecasts
Statistics show that Coherent Corp has underperformed its competitors in share price, compared to the industry in which it operates. Coherent Corp (COHR) shares have gone down -0.15% during the last six months, with a year-to-date growth rate less than the industry average at -45.00% against 14.10. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 43.90% this quarter and then jump 306.20% in the quarter after that. In the rating firms’ projections, revenue will decrease -9.50% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 1.28B as predicted by 16 analyst(s). Meanwhile, a consensus of 16 analyst(s) estimates revenue growth to 1.3B by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 1.21B and 1.05B respectively. In this case, analysts expect current quarter sales to grow by 5.90% and then jump by 23.90% in the coming quarter.
While earnings are projected to return -45.01% in 2024, the next five years will return 11.60% per annum.
COHR Dividends
Coherent Corp is due to release its next quarterly earnings 2024-Aug-15. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Coherent Corp (NYSE:COHR)’s Major holders
Coherent Corp insiders own 1.66% of total outstanding shares while institutional holders control 87.68%, with the float percentage being 89.16%. DODGE & COX is the largest shareholder of the company, while 649.0 institutions own stock in it. As of 2024-03-31, the company held over 15.1 million shares (or 9.866% of all shares), a total value of $915.26 million in shares.
The next largest institutional holding, with 3.58 million shares, is of POINT72 ASSET MANAGEMENT, L.P.’s that is approximately 2.3425% of outstanding shares. At the market price on 2024-03-31, these shares were valued at $217.31 million.
Also, the Mutual Funds coming in first place with the largest holdings of Coherent Corp (COHR) shares are Dodge & Cox Stock Fund and Vanguard Total Stock Market Index Fund. Data provided on Mar 31, 2024 indicates that Dodge & Cox Stock Fund owns about 8.86 shares. This amounts to just over 5.81 percent of the company’s overall shares, with a $548.37 million market value. The same data shows that the other fund manager holds slightly less at 4.75, or about 3.11% of the stock, which is worth about $293.92 million.
