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Bear Of The Day: Coherent (COHR)

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Coherent (COHR - Free Report) recently slipped to a Zacks Rank #5 (Strong Sell) and is now the Bear of the Day just a few short weeks before the next earnings event.  Let's take a look at how this stock became the lowest of the Zacks Ranks in this Bear of the Day article.

Description

Coherent, Inc. is an American company, designs, manufactures and markets laser systems and components, laser measurement and control products, optics, and laser accessories, which are used both in industry and scientific research. Their markets are the microelectronics industry (e.g., flat panel display manufacturing, integrated circuit packaging, and integrated circuit inspection), scientific research, OEM components, and materials processing (e.g., CO2 lasers for cutting metals).

Recent Earnings Reports

COHR has reported EPS below the Zacks Consensus Estimate in each of the last two quarters.  The most recent quarter was a miss of $0.07 for a negative earnings surprise of 2%.

The report previous to that was a miss of 15 cents for a negative earnings surprise of 4.3%.

COHR doesn't have the worst history I have ever seen, but it certainly isn't the best.

Estimates

The Zacks Rank tells me how earnings estimates have trended of late.  I see from the Zacks Rank #5 (Strong Sell) that earnings estimates will be heading lower.

CHOR has seen the estimate for 2018 move from $14.24 90 days ago down to $13.72.  

There was a similar move for the 2019 Zacks Consensus Estimate as it moved from $14.52 to $12.83 over the same time period.

Estimates for the current quarter have fallen a lot.  90 days ago the Zacks Consensus Estimate was calling for $3.75, but that number now stands at $3.30.

Chart

Coherent, Inc. Price and Consensus

Coherent, Inc. Price and Consensus | Coherent, Inc. Quote

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