-$0.07 EPS Expected for EMCORE Co. (NASDAQ:EMKR) This Quarter

Brokerages expect that EMCORE Co. (NASDAQ:EMKR) will post earnings of ($0.07) per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for EMCORE’s earnings. EMCORE posted earnings of ($0.26) per share during the same quarter last year, which would indicate a positive year over year growth rate of 73.1%. The firm is expected to issue its next earnings report on Thursday, August 1st.

On average, analysts expect that EMCORE will report full year earnings of ($0.25) per share for the current fiscal year, with EPS estimates ranging from ($0.27) to ($0.23). For the next year, analysts anticipate that the firm will post earnings of ($0.03) per share, with EPS estimates ranging from ($0.05) to $0.00. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover EMCORE.

EMCORE (NASDAQ:EMKR) last posted its earnings results on Wednesday, May 8th. The semiconductor company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. EMCORE had a negative net margin of 27.99% and a negative return on equity of 16.56%. The business had revenue of $21.75 million for the quarter, compared to analyst estimates of $22.56 million.

EMKR has been the subject of a number of research reports. Northland Securities reissued a “buy” rating and issued a $6.00 price target on shares of EMCORE in a report on Monday, June 10th. Zacks Investment Research downgraded shares of EMCORE from a “hold” rating to a “sell” rating in a report on Tuesday, June 4th. Finally, Lake Street Capital set a $6.00 price target on shares of EMCORE and gave the company a “buy” rating in a report on Monday, June 10th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $5.55.

NASDAQ:EMKR opened at $3.38 on Wednesday. EMCORE has a 1 year low of $3.25 and a 1 year high of $5.54. The firm has a fifty day moving average price of $3.55. The firm has a market cap of $94.99 million, a price-to-earnings ratio of -6.38 and a beta of 0.28.

Institutional investors have recently modified their holdings of the business. Brandywine Global Investment Management LLC bought a new stake in EMCORE in the 4th quarter valued at $63,000. Virtu Financial LLC lifted its holdings in shares of EMCORE by 40.5% during the 1st quarter. Virtu Financial LLC now owns 15,380 shares of the semiconductor company’s stock worth $56,000 after acquiring an additional 4,436 shares during the period. GMT Capital Corp bought a new position in shares of EMCORE during the 1st quarter worth about $100,000. Alambic Investment Management L.P. bought a new position in shares of EMCORE during the 1st quarter worth about $104,000. Finally, Perritt Capital Management Inc. bought a new position in shares of EMCORE during the 4th quarter worth about $214,000. 60.34% of the stock is owned by hedge funds and other institutional investors.

EMCORE Company Profile

EMCORE Corporation, together with its subsidiaries, provides advanced mixed-signal optics products in California. It offers broadband products comprising cable television; laser, receiver, and photodetector component products; radio frequency over glass FTTP products; satellite/microwave communications products; and wireless communications products.

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