Why Coherent Stock Is Crashing Today
(NYSE: COHR) stock is plummeting in Wednesday's trading. The laser technologies specialist's share price was down 34% as of 11 a.m. ET, according to data from S&P Global Market Intelligence.
Coherent published results for the fourth quarter of its fiscal year, which ended June 30, before the market opened this morning. While the company's Q4 performance actually came in ahead of Wall Street's expectations, its forward guidance was far worse than anticipated.
Coherent recorded non-GAAP (adjusted) earnings per share of $0.41 in on sales of $1.21 billion in the fourth quarter. Meanwhile, the average analyst estimate had expected per-share earnings of $0.38 on sales of $1.15 billion.
Source Fool.com
