Wall Street's Insights Into Key Metrics Ahead of Coherent (COHR) Q3 Earnings

Wall Street analysts expect Coherent (COHR) to post quarterly earnings of $0.42 per share in its upcoming report, which indicates a year-over-year decline of 27.6%. Revenues are expected to be $1.17 billion, down 5.8% from the year-ago quarter.

Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.

Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.

While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.

Given this perspective, it's time to examine the average forecasts of specific Coherent metrics that are routinely monitored and predicted by Wall Street analysts.

According to the collective judgment of analysts, 'Revenues- Networking' should come in at $564.08 million. The estimate suggests a change of +2.4% year over year.

The combined assessment of analysts suggests that 'Revenues- Lasers' will likely reach $354.46 million. The estimate indicates a year-over-year change of -3%.

The collective assessment of analysts points to an estimated 'Revenues- Materials' of $260.01 million. The estimate indicates a change of -19.7% from the prior-year quarter.

View all Key Company Metrics for Coherent here>>>

Shares of Coherent have demonstrated returns of -7.3% over the past month compared to the Zacks S&P 500 composite's -4.1% change. With a Zacks Rank #3 (Hold), COHR is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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