Lumentum (LITE) to Release Quarterly Earnings on Thursday

Lumentum (NASDAQ:LITE) is scheduled to be announcing its earnings results 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 released its earnings results on Wednesday, August 14th. The technology company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. The business had revenue of $308.30 million for the quarter, compared to analyst estimates of $301.36 million. Lumentum had a negative net margin of 40.21% and a negative return on equity of 4.79%. Lumentum’s revenue for the quarter was down 16.9% on a year-over-year basis. During the same quarter in the previous year, the business 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 Price Performance

LITE stock opened at $64.17 on Tuesday. The firm has a market cap of $4.40 billion, a price-to-earnings ratio of -7.93, a PEG ratio of 5.45 and a beta of 0.88. The company has a quick ratio of 4.43, a current ratio of 5.90 and a debt-to-equity ratio of 2.61. Lumentum has a 12-month low of $38.28 and a 12-month high of $71.07. The company’s fifty day simple moving average is $61.75 and its 200 day simple moving average is $53.01.

Analyst Ratings Changes

Several brokerages have recently weighed in on LITE. Susquehanna upped their price objective on shares of Lumentum from $70.00 to $80.00 and gave the company a “positive” rating in a report on Monday, October 21st. Jefferies Financial Group upped their price objective on shares of Lumentum from $53.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Rosenblatt Securities raised their price target on shares of Lumentum from $65.00 to $69.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. B. Riley lifted their price target on Lumentum from $40.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. lifted their price target on Lumentum from $57.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Lumentum has an average rating of “Hold” and a consensus 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.