With 4.78 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.83 million shares. The 52-week range on LITE shows that it touched its highest point at $104.00 and its lowest point at $38.28 during that stretch. It currently has a 1-year price target of $85.69. Beta for the stock currently stands at 1.22.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of LITE was up-trending over the past week, with a rise of 7.44%, but this was up by 29.98% over a month. Three-month performance dropped to -25.38% while six-month performance rose 0.86%. The stock gained 45.45% in the past year, while it has lost -23.26% so far this year. A look at the trailing 12-month EPS for LITE yields -7.70 with Next year EPS estimates of 3.74. For the next quarter, that number is 0.63. This implies an EPS growth rate of 71.75% for this year and 115.42% for next year. EPS is expected to grow by 70.03% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -72.21%.
Float and Shares Shorts:
At present, 69.10 million LITE shares are outstanding with a float of 65.97 million shares on hand for trading.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for LITE since 10 analysts follow the stock currently. There are 6 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 3 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. Analysts have provided yearly estimates in a range of $1.04824 being high and $0.94935 being low. For LITE, this leads to a yearly average estimate of $0.97902. Based on analyst estimates, the high estimate for the next quarter is $0.96 and the low estimate is $0.67. The average estimate for the next quarter is thus $0.78.
