Analysts expect that Cree, Inc. (NASDAQ:CREE) will post earnings of ($0.08) per share for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Cree’s earnings. The lowest EPS estimate is ($0.11) and the highest is $0.03. Cree posted earnings per share of $0.23 during the same quarter last year, which would indicate a negative year-over-year growth rate of 134.8%. The company is scheduled to report its next quarterly earnings report on Wednesday, January 29th.
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According to Zacks, analysts expect that Cree will report full-year earnings of ($0.18) per share for the current financial year, with EPS estimates ranging from ($0.39) to $0.20. For the next fiscal year, analysts forecast that the firm will report earnings of $0.49 per share, with EPS estimates ranging from ($0.03) to $0.95. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Cree.
Cree (NASDAQ:CREE) last posted its earnings results on Wednesday, October 30th. The LED producer reported ($0.03) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.02. Cree had a negative net margin of 34.02% and a negative return on equity of 0.20%. The company had revenue of $242.80 million for the quarter, compared to analyst estimates of $239.48 million. During the same quarter in the prior year, the business posted $0.22 EPS. The firm’s revenue was down 11.5% compared to the same quarter last year.
A number of research analysts have recently weighed in on CREE shares. TheStreet downgraded shares of Cree from a “c” rating to a “d+” rating in a report on Friday, November 1st. BNP Paribas started coverage on shares of Cree in a report on Thursday, August 29th. They issued an “underperform” rating and a $40.00 price objective for the company. Canaccord Genuity cut their price objective on shares of Cree from $64.00 to $57.00 and set a “buy” rating for the company in a report on Thursday, October 31st. JPMorgan Chase & Co. downgraded shares of Cree from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $43.00 to $40.00 in a report on Thursday, October 31st. Finally, BidaskClub downgraded shares of Cree from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $54.90.
In other Cree news, Director Duy Loan T. Le acquired 2,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was bought at an average cost of $45.87 per share, with a total value of $91,740.00. Following the acquisition, the director now owns 13,659 shares in the company, valued at $626,538.33. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.36% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the business. Winslow Evans & Crocker Inc. boosted its holdings in Cree by 169.9% in the 3rd quarter. Winslow Evans & Crocker Inc. now owns 556 shares of the LED producer’s stock valued at $28,000 after purchasing an additional 350 shares during the period. Point72 Hong Kong Ltd bought a new position in Cree in the 2nd quarter valued at $36,000. AdvisorNet Financial Inc boosted its holdings in Cree by 2,777.8% in the 3rd quarter. AdvisorNet Financial Inc now owns 777 shares of the LED producer’s stock valued at $38,000 after purchasing an additional 750 shares during the period. Quantamental Technologies LLC boosted its holdings in Cree by 41.1% in the 2nd quarter. Quantamental Technologies LLC now owns 1,254 shares of the LED producer’s stock valued at $70,000 after purchasing an additional 365 shares during the period. Finally, FNY Investment Advisers LLC boosted its holdings in Cree by 92.0% in the 2nd quarter. FNY Investment Advisers LLC now owns 1,440 shares of the LED producer’s stock valued at $80,000 after purchasing an additional 690 shares during the period.
Shares of CREE traded up $0.25 on Tuesday, reaching $49.39. The company’s stock had a trading volume of 712,100 shares, compared to its average volume of 1,555,391. Cree has a twelve month low of $38.67 and a twelve month high of $69.21. The firm has a fifty day moving average of $47.87 and a 200-day moving average of $55.07. The stock has a market capitalization of $5.50 billion, a PE ratio of 137.19 and a beta of 0.95. The company has a current ratio of 5.57, a quick ratio of 4.82 and a debt-to-equity ratio of 0.23.
Cree Company Profile
Cree, Inc provides lighting-class light emitting diode (LED), lighting, and semiconductor products for power and radio-frequency (RF) applications in the United States, China, Europe, South Korea, Japan, Malaysia, Taiwan, and internationally. It operates in three segments: Wolfspeed, LED Products, and Lighting Products.
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