Coherent stock and Lumentum shares set to report earnings next week, Bernstein previews

Investing.com - Coherent (NYSE: COHR) and Lumentum (NASDAQ: LITE) are scheduled to report quarterly earnings next week, with Coherent releasing results on November 4 and Lumentum on November 5, both after market close, according to Bernstein.

Over the past month, Lumentum shares fell 13% and Coherent dropped 28% amid a broader decline in AI-related stocks. Bernstein maintains Outperform ratings on both companies and does not believe recent market catalysts change the fundamental outlook for either stock.

For Coherent's first quarter, Bernstein expects revenues of $2.4 billion and earnings per share of $2.05, above consensus estimates of $2.3 billion and $1.99 respectively. The firm said it is also above consensus for the second quarter and believes Coherent could raise guidance.

For Lumentum, Bernstein's estimates are in line with consensus for both revenues and earnings for the quarter. The firm sees more upside to second-quarter numbers and believes management could guide higher.

Bernstein said recent news flow skews positive and expects management at both companies to strike a positive tone. The firm noted it is now more balanced in its preference between the two stocks given that the valuation gap has widened.

You May Also Be Interested In

• US Treasury: 'Authorizing Wind Down Activities...the Offloading of Cargo Involving Certain Persons or Vessels Blocked on October 21, 2026'
• INVE Technologies stock surges on $20M share buyback tender
• Meta must pay $25 billion in penalties, New Mexico judge rules