EMCORE Co. to Post Q2 2018 Earnings of ($0.06) Per Share, B. Riley Forecasts (EMKR)

EMCORE Co. (NASDAQ:EMKR) – Equities research analysts at B. Riley issued their Q2 2018 earnings per share estimates for EMCORE in a note issued to investors on Tuesday, April 10th, according to Zacks Investment Research. B. Riley analyst D. Kang expects that the semiconductor company will post earnings per share of ($0.06) for the quarter. B. Riley has a “Neutral” rating and a $5.75 price target on the stock. B. Riley also issued estimates for EMCORE’s Q3 2018 earnings at ($0.05) EPS, Q4 2018 earnings at ($0.02) EPS and FY2018 earnings at ($0.13) EPS.

How to Become a New Pot Stock Millionaire

EMKR has been the topic of a number of other research reports. Zacks Investment Research cut EMCORE from a “hold” rating to a “sell” rating in a research note on Monday, February 12th. TheStreet lowered EMCORE from a “b-” rating to a “c+” rating in a report on Wednesday, February 28th. ValuEngine lowered EMCORE from a “hold” rating to a “sell” rating in a report on Saturday, April 7th. Northland Securities raised EMCORE from a “market perform” rating to an “outperform” rating in a report on Monday, March 19th. Finally, Lake Street Capital decreased their target price on EMCORE from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. EMCORE presently has an average rating of “Hold” and an average price target of $6.25.

Shares of EMCORE stock traded up $0.02 on Friday, reaching $4.67. 9,323 shares of the company were exchanged, compared to its average volume of 254,963. EMCORE has a one year low of $4.60 and a one year high of $12.20. The stock has a market cap of $127.84, a P/E ratio of 11.92 and a beta of 0.32.

EMCORE (NASDAQ:EMKR) last announced its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). EMCORE had a return on equity of 6.59% and a net margin of 5.48%. The company had revenue of $24.04 million for the quarter, compared to the consensus estimate of $24.75 million. During the same quarter in the prior year, the company earned $0.13 EPS. The company’s revenue for the quarter was down 20.3% on a year-over-year basis.

Hedge funds have recently bought and sold shares of the stock. Highbridge Capital Management LLC increased its holdings in shares of EMCORE by 130.9% during the 3rd quarter. Highbridge Capital Management LLC now owns 25,574 shares of the semiconductor company’s stock worth $119,000 after acquiring an additional 14,499 shares during the last quarter. Alambic Investment Management L.P. acquired a new position in EMCORE in the 4th quarter valued at $125,000. Stone Ridge Asset Management LLC acquired a new position in EMCORE in the 4th quarter valued at $175,000. Connors Investor Services Inc. grew its holdings in EMCORE by 47.2% in the 4th quarter. Connors Investor Services Inc. now owns 31,193 shares of the semiconductor company’s stock valued at $201,000 after buying an additional 10,000 shares in the last quarter. Finally, JPMorgan Chase & Co. acquired a new position in EMCORE in the 3rd quarter valued at $220,000. 79.12% of the stock is currently owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION WARNING: “EMCORE Co. to Post Q2 2018 Earnings of ($0.06) Per Share, B. Riley Forecasts (EMKR)” was posted by The Lincolnian Online and is the property of of The Lincolnian Online. If you are accessing this piece on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark law. The correct version of this piece can be viewed at https://www.thelincolnianonline.com/2018/04/20/emcore-co-to-post-q2-2018-earnings-of-0-06-per-share-b-riley-forecasts-emkr.html.

About EMCORE

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.

Get a free copy of the Zacks research report on EMCORE (EMKR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for EMCORE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EMCORE and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply