With 3.28 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.13 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 $99.65. Beta for the stock currently stands at 1.14.
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 down-trending over the past week, with a drop of -7.53%, but this was down by -23.48% over a month. Three-month performance dropped to -22.30% while six-month performance rose 15.14%. The stock gained 34.29% in the past year, while it has lost -22.47% so far this year. A look at the trailing 12-month EPS for LITE yields -7.70 with Next year EPS estimates of 3.73. For the next quarter, that number is 0.50. This implies an EPS growth rate of 72.33% for this year and 114.23% for next year. EPS is expected to grow by 69.80% 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 66.15 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 $0.81 and the low estimate is $0.56. The average estimate for the next quarter is thus $0.64.
Summary of Insider Activity:
Insiders traded LITE stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has remained unchanged to 0 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 0 while 0 shares were sold.
