Lumentum (LITE) Scheduled to Post Earnings on Thursday

Lumentum (NASDAQ:LITE) will be posting 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 that are interested in participating in 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 (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. Lumentum had a negative net margin of 40.21% and a negative return on equity of 4.79%. The business had revenue of $308.30 million during the quarter, compared to the consensus estimate of $301.36 million. During the same quarter last year, the firm posted $0.12 EPS. Lumentum’s revenue was down 16.9% compared to the same quarter last year. 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

NASDAQ LITE opened at $65.35 on Thursday. The company has a fifty day simple moving average of $61.46 and a 200 day simple moving average of $52.62. 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 company has a market cap of $4.42 billion, a P/E ratio of -12.45, a PEG ratio of 5.68 and a beta of 0.89.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Morgan Stanley lifted their price target on shares of Lumentum from $50.00 to $54.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. B. Riley raised their price objective on Lumentum from $40.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Jefferies Financial Group raised their price objective on Lumentum from $53.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Bank of America raised their price objective on Lumentum from $45.00 to $50.00 and gave the company an “underperform” rating in a research note on Thursday, August 15th. Finally, Craig Hallum raised their price objective on Lumentum from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Three research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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.