Analysts Anticipate Cray Inc. (CRAY) to Post -$0.44 Earnings Per Share

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Wall Street brokerages expect Cray Inc. (NASDAQ:CRAY) to post earnings of ($0.44) per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Cray’s earnings, with the highest EPS estimate coming in at ($0.29) and the lowest estimate coming in at ($0.58). Cray posted earnings per share of ($0.33) in the same quarter last year, which would suggest a negative year-over-year growth rate of 33.3%. The company is expected to report its next earnings results on Monday, October 29th.

On average, analysts expect that Cray will report full-year earnings of ($0.87) per share for the current fiscal year. For the next year, analysts forecast that the business will post earnings of ($0.50) per share, with EPS estimates ranging from ($0.74) to ($0.25). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow Cray.

Cray (NASDAQ:CRAY) last released its quarterly earnings results on Tuesday, July 31st. The technology company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.13. The firm had revenue of $120.20 million for the quarter, compared to analyst estimates of $108.68 million. Cray had a negative return on equity of 8.18% and a negative net margin of 32.22%. Cray’s revenue for the quarter was up 38.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.20) EPS.

A number of equities analysts have issued reports on the company. ValuEngine raised Cray from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 11th. BidaskClub lowered Cray from a “hold” rating to a “sell” rating in a research report on Saturday, August 4th. Finally, Zacks Investment Research lowered Cray from a “hold” rating to a “sell” rating in a research report on Friday, August 3rd. Two research analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $31.00.

Shares of CRAY opened at $21.15 on Tuesday. Cray has a 52-week low of $17.90 and a 52-week high of $28.60.

Several institutional investors and hedge funds have recently made changes to their positions in CRAY. BlackRock Inc. raised its position in shares of Cray by 5.7% during the 2nd quarter. BlackRock Inc. now owns 5,520,714 shares of the technology company’s stock valued at $135,810,000 after acquiring an additional 295,955 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Cray by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,486,086 shares of the technology company’s stock valued at $51,462,000 after acquiring an additional 24,497 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Cray by 1.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,354,936 shares of the technology company’s stock valued at $33,329,000 after acquiring an additional 25,498 shares in the last quarter. Royce & Associates LP raised its position in shares of Cray by 27.3% during the 2nd quarter. Royce & Associates LP now owns 1,176,481 shares of the technology company’s stock valued at $28,941,000 after acquiring an additional 252,410 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of Cray by 47.5% during the 1st quarter. American Century Companies Inc. now owns 1,084,495 shares of the technology company’s stock valued at $22,449,000 after acquiring an additional 349,075 shares in the last quarter. 96.99% of the stock is currently owned by institutional investors.

Cray Company Profile

Cray Inc, together with its subsidiaries, designs, develops, manufactures, markets, and services computing systems, and data analytics and artificial intelligence solutions. It operates through Supercomputing, Storage and Data Management, Maintenance and Support, and Engineering Services and Other segments.

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