Lumentum (LITE) to Release Quarterly Earnings on Thursday

Lumentum (NASDAQ:LITE) will post its quarterly earnings results after the market closes on Thursday, November 7th. Analysts expect Lumentum to post 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.Individual interested in listening to the company’s earnings conference call can do so using this link.

Lumentum (NASDAQ:LITE) last posted 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 during 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 firm’s revenue for the quarter was down 16.9% on a year-over-year basis. During the same period in the previous year, the firm posted $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

Lumentum stock opened at $64.17 on Tuesday. The company has a quick ratio of 4.43, a current ratio of 5.90 and a debt-to-equity ratio of 2.61. The company has a market capitalization of $4.40 billion, a PE ratio of -7.93, a P/E/G ratio of 5.45 and a beta of 0.88. The firm has a fifty day simple moving average of $61.75 and a two-hundred day simple moving average of $53.01. Lumentum has a twelve month low of $38.28 and a twelve month high of $71.07.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Northland Securities boosted their price target on shares of Lumentum from $40.00 to $45.00 and gave the stock a “market perform” rating in a research note on Friday, August 16th. Needham & Company LLC upped their price objective on shares of Lumentum from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Barclays upped their price objective on shares of Lumentum from $38.00 to $40.00 and gave the company an “underweight” rating in a research note on Thursday, August 15th. Raymond James upped their price objective on shares of Lumentum from $55.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Finally, Bank of America upped their price objective on shares of Lumentum from $45.00 to $50.00 and gave the company an “underperform” rating in a research note on Thursday, August 15th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Lumentum currently 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.