Brokerages Anticipate Luminar Technologies, Inc. (NASDAQ:LAZR) Will Announce Earnings of -$0.17 Per Share

Equities research analysts expect Luminar Technologies, Inc. (NASDAQ:LAZRGet Rating) to report ($0.17) earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Luminar Technologies’ earnings, with the highest EPS estimate coming in at ($0.16) and the lowest estimate coming in at ($0.18). Luminar Technologies reported earnings per share of ($0.08) during the same quarter last year, which would indicate a negative year over year growth rate of 112.5%. The company is expected to issue its next earnings report on Monday, January 1st.

On average, analysts expect that Luminar Technologies will report full year earnings of ($0.69) per share for the current year, with EPS estimates ranging from ($0.70) to ($0.66). For the next financial year, analysts expect that the business will post earnings of ($0.62) per share, with EPS estimates ranging from ($0.77) to ($0.35). Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Luminar Technologies.

Luminar Technologies (NASDAQ:LAZRGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.03). The business had revenue of $6.86 million during the quarter, compared to the consensus estimate of $9.59 million. Luminar Technologies had a negative net margin of 747.76% and a negative return on equity of 73.24%. During the same quarter last year, the business earned ($0.09) EPS.

Several research firms have issued reports on LAZR. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Luminar Technologies from $28.00 to $23.00 in a report on Tuesday, March 1st. Sumitomo Mitsui Financial Group began coverage on shares of Luminar Technologies in a report on Tuesday, March 29th. They set a “neutral” rating and a $16.00 price target for the company. Credit Suisse Group began coverage on shares of Luminar Technologies in a report on Thursday, April 14th. They set an “outperform” rating and a $22.00 price target for the company. Northland Securities reduced their price objective on shares of Luminar Technologies from $23.00 to $13.00 and set an “outperform” rating for the company in a research report on Thursday, May 19th. Finally, The Goldman Sachs Group reduced their price objective on shares of Luminar Technologies from $12.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $21.27.

Luminar Technologies stock traded up $0.32 during mid-day trading on Thursday, hitting $10.10. 272,987 shares of the stock were exchanged, compared to its average volume of 6,506,185. The company has a quick ratio of 15.85, a current ratio of 16.06 and a debt-to-equity ratio of 4.92. Luminar Technologies has a 12 month low of $8.00 and a 12 month high of $26.39. The firm’s fifty day simple moving average is $12.33 and its two-hundred day simple moving average is $14.37. The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of -14.14 and a beta of 1.45.

In other news, CEO Austin Russell acquired 15,000 shares of the business’s stock in a transaction on Tuesday, March 8th. The shares were purchased at an average cost of $12.86 per share, with a total value of $192,900.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jun Hong Heng sold 142,933 shares of Luminar Technologies stock in a transaction on Wednesday, March 9th. The stock was sold at an average price of $13.30, for a total transaction of $1,901,008.90. The disclosure for this sale can be found here. In the last three months, insiders purchased 345,000 shares of company stock valued at $3,315,600 and sold 391,062 shares valued at $5,393,549. Company insiders own 43.25% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Verition Fund Management LLC bought a new stake in shares of Luminar Technologies during the 1st quarter worth $898,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Luminar Technologies during the 1st quarter worth $15,317,000. Walleye Capital LLC bought a new stake in shares of Luminar Technologies during the 1st quarter worth $331,000. Bickling Financial Services Inc. bought a new stake in shares of Luminar Technologies during the 1st quarter worth $1,532,000. Finally, Advisors Asset Management Inc. raised its stake in shares of Luminar Technologies by 59.1% during the 1st quarter. Advisors Asset Management Inc. now owns 22,156 shares of the company’s stock worth $346,000 after purchasing an additional 8,227 shares during the period. 58.54% of the stock is currently owned by hedge funds and other institutional investors.

About Luminar Technologies (Get Rating)

Luminar Technologies, Inc, an automotive technology company, provides sensor technologies and software for passenger cars and commercial trucks in North America, the Asia Pacific, Europe, and the Middle East. It operates in two segments, Autonomy Solutions and Components. The Autonomy Solutions segment designs, manufactures, and sells laser imaging, detection, and ranging sensors, as well as related perception and autonomy software solutions primarily for original equipment manufacturers in the automobile, commercial vehicle, robo-taxi, and adjacent industries.

Further Reading

Get a free copy of the Zacks research report on Luminar Technologies (LAZR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Want More Great Investing Ideas?

Receive News & Ratings for Luminar Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Luminar Technologies and related companies with MarketBeat.com's FREE daily email newsletter.