Luminar Technologies, Inc. (NASDAQ:LAZR) Expected to Post Earnings of -$0.13 Per Share

Analysts expect that Luminar Technologies, Inc. (NASDAQ:LAZRGet Rating) will post ($0.13) earnings per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Luminar Technologies’ earnings, with the highest EPS estimate coming in at ($0.09) and the lowest estimate coming in at ($0.15). Luminar Technologies reported earnings per share of ($0.08) during the same quarter last year, which would suggest a negative year-over-year growth rate of 62.5%. The firm is scheduled to report its next quarterly earnings results after the market closes on Monday, January 1st.

On average, analysts expect that Luminar Technologies will report full-year earnings of ($0.47) per share for the current fiscal year, with EPS estimates ranging from ($0.60) to ($0.33). For the next financial year, analysts expect that the company will post earnings of ($0.39) per share, with EPS estimates ranging from ($0.59) to ($0.17). Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Luminar Technologies.

Luminar Technologies (NASDAQ:LAZRGet Rating) last issued its earnings results on Monday, February 28th. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.03. Luminar Technologies had a negative return on equity of 44.05% and a negative net margin of 745.01%. The business had revenue of $12.34 million for the quarter, compared to analyst estimates of $12.07 million.

A number of equities analysts have recently commented on LAZR shares. Deutsche Bank Aktiengesellschaft cut their target price on shares of Luminar Technologies from $28.00 to $23.00 in a research note on Tuesday, March 1st. Jefferies Financial Group initiated coverage on Luminar Technologies in a research report on Thursday, January 27th. They issued a “buy” rating and a $20.00 target price for the company. Northland Securities reiterated an “outperform” rating and issued a $38.00 target price on shares of Luminar Technologies in a research note on Tuesday, December 28th. Credit Suisse Group assumed coverage on Luminar Technologies in a research report on Thursday, April 14th. They set an “outperform” rating and a $22.00 price target on the stock. Finally, Sumitomo Mitsui Financial Group started coverage on shares of Luminar Technologies in a research report on Tuesday, March 29th. They issued a “neutral” rating and a $16.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Luminar Technologies presently has a consensus rating of “Buy” and an average price target of $23.45.

In related news, CEO Austin Russell purchased 15,000 shares of the company’s stock in a transaction on Wednesday, February 2nd. The shares were bought at an average cost of $14.48 per share, for a total transaction of $217,200.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jun Hong Heng sold 59,957 shares of the company’s stock in a transaction that occurred on Monday, April 18th. The stock was sold at an average price of $14.03, for a total transaction of $841,196.71. Following the completion of the sale, the director now directly owns 1,510,067 shares of the company’s stock, valued at $21,186,240.01. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 90,000 shares of company stock valued at $1,314,750 and have sold 523,062 shares valued at $7,435,589. 43.25% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. North Star Investment Management Corp. raised its holdings in Luminar Technologies by 303.1% during the 4th quarter. North Star Investment Management Corp. now owns 6,038,116 shares of the company’s stock worth $102,105,000 after buying an additional 4,540,265 shares during the period. Macquarie Group Ltd. raised its holdings in Luminar Technologies by 84.6% during the third quarter. Macquarie Group Ltd. now owns 5,546,897 shares of the company’s stock valued at $86,532,000 after buying an additional 2,542,628 shares in the last quarter. Norges Bank acquired a new stake in shares of Luminar Technologies in the fourth quarter worth about $26,439,000. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Luminar Technologies by 42.5% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 3,341,659 shares of the company’s stock worth $56,508,000 after acquiring an additional 997,078 shares in the last quarter. Finally, Vantage Investment Partners LLC increased its holdings in shares of Luminar Technologies by 15.4% during the 4th quarter. Vantage Investment Partners LLC now owns 5,424,610 shares of the company’s stock valued at $91,730,000 after acquiring an additional 724,816 shares during the last quarter. 47.36% of the stock is currently owned by hedge funds and other institutional investors.

LAZR stock traded up $0.82 during midday trading on Friday, reaching $13.35. 140,736 shares of the company’s stock traded hands, compared to its average volume of 5,433,723. The company has a current ratio of 21.68, a quick ratio of 21.41 and a debt-to-equity ratio of 3.08. Luminar Technologies has a fifty-two week low of $11.45 and a fifty-two week high of $26.39. The business has a 50-day moving average price of $14.31 and a two-hundred day moving average price of $15.52.

Luminar Technologies Company Profile (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.

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