Equities research analysts forecast that Cray Inc. (NASDAQ:CRAY) will announce sales of $158.10 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Cray’s earnings, with the highest sales estimate coming in at $158.20 million and the lowest estimate coming in at $158.00 million. Cray reported sales of $166.64 million during the same quarter last year, which would indicate a negative year over year growth rate of 5.1%. The business is scheduled to issue its next quarterly earnings results on Thursday, February 21st.
On average, analysts expect that Cray will report full-year sales of $450.70 million for the current fiscal year, with estimates ranging from $450.60 million to $450.80 million. For the next financial year, analysts anticipate that the firm will post sales of $487.20 million, with estimates ranging from $472.40 million to $502.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Cray.
Cray (NASDAQ:CRAY) last released its quarterly earnings results on Tuesday, October 30th. The technology company reported ($0.47) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.44) by ($0.03). Cray had a negative return on equity of 10.56% and a negative net margin of 33.95%. The firm had revenue of $92.80 million for the quarter, compared to analysts’ expectations of $90.58 million. During the same period last year, the firm earned ($0.33) EPS. The business’s quarterly revenue was up 16.4% on a year-over-year basis.
Several equities research analysts recently issued reports on the stock. BidaskClub downgraded shares of Cray from a “hold” rating to a “sell” rating in a research note on Saturday, August 4th. Zacks Investment Research raised shares of Cray from a “sell” rating to a “hold” rating in a research note on Tuesday, November 27th. Finally, ValuEngine downgraded shares of Cray from a “buy” rating to a “hold” rating in a research note on Monday, August 13th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $31.00.
Cray stock traded down $0.18 during midday trading on Tuesday, hitting $26.21. 241,253 shares of the stock were exchanged, compared to its average volume of 280,608. Cray has a 1 year low of $18.76 and a 1 year high of $28.60. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -25.95 and a beta of 1.35.
In other news, SVP Charles A. Morreale sold 30,518 shares of the business’s stock in a transaction dated Wednesday, November 28th. The shares were sold at an average price of $26.06, for a total value of $795,299.08. Following the completion of the sale, the senior vice president now owns 75,747 shares of the company’s stock, valued at approximately $1,973,966.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brian C. Henry sold 18,667 shares of the business’s stock in a transaction dated Tuesday, November 13th. The stock was sold at an average price of $24.19, for a total transaction of $451,554.73. Following the completion of the sale, the vice president now directly owns 87,939 shares of the company’s stock, valued at approximately $2,127,244.41. The disclosure for this sale can be found here. Insiders sold a total of 69,185 shares of company stock valued at $1,748,654 in the last three months. Insiders own 4.10% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its position in shares of Cray by 10.9% in the 2nd quarter. Wells Fargo & Company MN now owns 699,528 shares of the technology company’s stock worth $17,210,000 after purchasing an additional 68,896 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Cray by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 310,242 shares of the technology company’s stock worth $6,422,000 after purchasing an additional 7,643 shares during the last quarter. BlackRock Inc. increased its position in shares of Cray by 5.7% in the 2nd quarter. BlackRock Inc. now owns 5,520,714 shares of the technology company’s stock worth $135,810,000 after purchasing an additional 295,955 shares during the last quarter. American Century Companies Inc. increased its position in shares of Cray by 24.5% in the 3rd quarter. American Century Companies Inc. now owns 820,640 shares of the technology company’s stock worth $17,644,000 after purchasing an additional 161,464 shares during the last quarter. Finally, Sterling Capital Management LLC increased its position in shares of Cray by 71.8% in the 2nd quarter. Sterling Capital Management LLC now owns 61,907 shares of the technology company’s stock worth $1,523,000 after purchasing an additional 25,881 shares during the last quarter. 97.27% of the stock is owned by institutional investors.
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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