Zacks: Analysts Expect Luminex Co. (LMNX) Will Post Earnings of $0.11 Per Share

Analysts expect that Luminex Co. (NASDAQ:LMNX) will announce $0.11 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Luminex’s earnings. The lowest EPS estimate is $0.09 and the highest is $0.14. Luminex posted earnings per share of $0.17 in the same quarter last year, which indicates a negative year-over-year growth rate of 35.3%. The company is scheduled to announce its next quarterly earnings report on Monday, February 11th.

According to Zacks, analysts expect that Luminex will report full-year earnings of $0.55 per share for the current financial year, with EPS estimates ranging from $0.54 to $0.56. For the next financial year, analysts expect that the firm will report earnings of $0.54 per share, with EPS estimates ranging from $0.32 to $0.66. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Luminex.

Luminex (NASDAQ:LMNX) last posted its quarterly earnings data on Monday, November 5th. The medical instruments supplier reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.03). Luminex had a return on equity of 5.99% and a net margin of 5.65%. The firm had revenue of $72.40 million during the quarter, compared to the consensus estimate of $74.05 million. During the same period in the prior year, the firm posted $0.13 EPS. The firm’s quarterly revenue was down 2.3% on a year-over-year basis.

A number of analysts have recently commented on the company. Zacks Investment Research downgraded Luminex from a “hold” rating to a “sell” rating in a research note on Wednesday, August 8th. Jefferies Financial Group reissued a “hold” rating and issued a $27.00 price objective on shares of Luminex in a research note on Tuesday, August 7th. ValuEngine raised Luminex from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 29th. Citigroup lifted their target price on Luminex from $23.00 to $34.00 and gave the stock a “$33.58” rating in a report on Monday, July 23rd. Finally, BidaskClub upgraded Luminex from a “hold” rating to a “buy” rating in a report on Wednesday, October 31st. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Luminex has a consensus rating of “Buy” and an average price target of $28.40.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Luminex during the second quarter valued at $207,000. Crossmark Global Holdings Inc. purchased a new position in shares of Luminex during the second quarter valued at $214,000. Cubist Systematic Strategies LLC grew its holdings in shares of Luminex by 7,572.6% during the second quarter. Cubist Systematic Strategies LLC now owns 7,289 shares of the medical instruments supplier’s stock valued at $215,000 after buying an additional 7,194 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of Luminex during the third quarter valued at $227,000. Finally, OppenheimerFunds Inc. purchased a new position in shares of Luminex during the second quarter valued at $231,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Shares of LMNX traded down $0.47 during midday trading on Monday, reaching $26.61. The stock had a trading volume of 306,857 shares, compared to its average volume of 300,699. Luminex has a 52 week low of $18.62 and a 52 week high of $35.37. The company has a market capitalization of $1.24 billion, a PE ratio of 29.24, a P/E/G ratio of 3.26 and a beta of 0.34.

The business also recently announced a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Friday, September 21st were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date was Thursday, September 20th. Luminex’s payout ratio is 26.37%.

Luminex Company Profile

Luminex Corporation develops, manufactures, and sells proprietary biological testing technologies and products for the diagnostics, pharmaceutical, and research industries worldwide. Its products include Luminex 100/200 that integrates fluidics, optics, and digital signal processing; FLEXMAP 3D system for use as a general laboratory instrument; MAGPIX system, a multiplexing analyzer for qualitative and quantitative analysis of proteins and nucleic acids; ARIES system, a sample to answer real-time PCR platform; ARIES M1 system, a single-module version of the ARIES System; and VERIGENE system, an automated multiplex-capable system.

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