Cray (CRAY) Releases Earnings Results, Misses Expectations By $0.03 EPS

Cray (NASDAQ:CRAY) posted its quarterly earnings results on Tuesday. The technology company reported ($0.47) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.44) by ($0.03), MarketWatch Earnings reports. Cray had a negative net margin of 32.22% and a negative return on equity of 8.18%. The company had revenue of $92.80 million for the quarter, compared to analyst estimates of $90.58 million. During the same quarter in the previous year, the business posted ($0.33) earnings per share. Cray’s revenue was up 16.4% on a year-over-year basis.

CRAY stock traded up $2.73 during midday trading on Wednesday, hitting $23.20. The stock had a trading volume of 16,834 shares, compared to its average volume of 246,161. The stock has a market capitalization of $808.78 million, a P/E ratio of -22.76 and a beta of 1.52. Cray has a 12-month low of $18.10 and a 12-month high of $28.60.

CRAY has been the subject of a number of research reports. BidaskClub downgraded shares of Cray from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 23rd. Zacks Investment Research cut shares of Cray from a “hold” rating to a “sell” rating in a research note on Friday, August 3rd. Finally, ValuEngine raised shares of Cray from a “hold” rating to a “buy” rating in a research note on Tuesday, September 4th. Two analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. Cray currently has a consensus rating of “Hold” and a consensus target price of $31.00.

Cray Company Profile

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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Earnings History for Cray (NASDAQ:CRAY)

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