Equities research analysts expect Orbotech Ltd (NASDAQ:ORBK) to report earnings of $0.90 per share for the current quarter, Zacks reports. Three analysts have provided estimates for Orbotech’s earnings. Orbotech posted earnings per share of $0.91 during the same quarter last year, which would suggest a negative year-over-year growth rate of 1.1%. The company is scheduled to issue its next quarterly earnings report on Wednesday, November 7th.
According to Zacks, analysts expect that Orbotech will report full year earnings of $3.53 per share for the current financial year, with EPS estimates ranging from $3.48 to $3.58. For the next year, analysts anticipate that the firm will report earnings of $3.91 per share, with EPS estimates ranging from $3.80 to $4.02. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that cover Orbotech.
Orbotech (NASDAQ:ORBK) last announced its quarterly earnings data on Wednesday, August 1st. The electronics maker reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.07. The company had revenue of $267.50 million during the quarter, compared to the consensus estimate of $258.51 million. Orbotech had a net margin of 15.56% and a return on equity of 17.77%. The company’s revenue for the quarter was up 27.0% on a year-over-year basis.
Several analysts recently commented on ORBK shares. Zacks Investment Research raised shares of Orbotech from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a report on Friday, August 10th. BidaskClub downgraded shares of Orbotech from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 13th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Orbotech currently has an average rating of “Hold” and an average price target of $60.43.
Several hedge funds have recently made changes to their positions in ORBK. Millennium Management LLC boosted its holdings in shares of Orbotech by 182.0% during the 2nd quarter. Millennium Management LLC now owns 882,010 shares of the electronics maker’s stock worth $54,508,000 after buying an additional 569,263 shares during the period. UBS Group AG raised its stake in Orbotech by 686.2% in the 1st quarter. UBS Group AG now owns 613,142 shares of the electronics maker’s stock worth $38,125,000 after purchasing an additional 535,153 shares in the last quarter. Alpine Associates Management Inc. acquired a new stake in Orbotech in the 2nd quarter worth about $32,295,000. Omni Partners LLP acquired a new stake in Orbotech in the 1st quarter worth about $29,869,000. Finally, Citigroup Inc. raised its stake in Orbotech by 6,247.9% in the 1st quarter. Citigroup Inc. now owns 448,799 shares of the electronics maker’s stock worth $27,907,000 after purchasing an additional 441,729 shares in the last quarter. 73.12% of the stock is owned by institutional investors and hedge funds.
Shares of ORBK stock traded up $0.42 during midday trading on Tuesday, hitting $64.02. 105,854 shares of the company were exchanged, compared to its average volume of 270,532. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of 23.36, a PEG ratio of 1.03 and a beta of 0.70. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.80 and a current ratio of 3.52. Orbotech has a 52 week low of $36.49 and a 52 week high of $65.75.
Orbotech Ltd. provides yield-enhancing and process-enabling solutions for the manufacture of printed circuit boards (PCBs), flat panel displays (FPDs), semiconductor devices (SDs), and other electronic components in China, Taiwan, North America, Europe, Japan, Korea, and internationally. It operates through three segments: Production Solutions for the Electronics Industry, Solar Energy, and Recognition Software.
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