Cree, Inc. (CREE) : Q116 Earnings Whisper

Cree, Inc. (CREE) is set to announce its Q116 earnings after the market close on Tuesday, October 20. Analysts expect the company to report EPS of $0.20 and revenue of $418.67 million. That would be $0.01 higher the $0.19 per share posted last quarter, and $0.04 lower the $0.24 posted in the Q115. Revenue is projected to be $9.03 million lower than the $427.7 million posted in the same period a year earlier. Meanwhile, reports a whisper number of $0.18 per share.

As a quick reminder, CREE reported Q415 EPS of $0.19, $0.23 better than the Street’s consensus estimate of ($0.04). Revs decreased 12.45% year-over-year to $382 million versus the $378.92 million consensus.

On valuation measures, Cree Inc. shares have a T-12 price/sales ratio of 1.66 and a price/book for the same period of 1.10. EPS is ($0.62). The name has a market cap of $2.54 billion and a median Wall Street price target of $27.50 with a high target of $45.00. Currently there are 2 analysts that rate CREE a ‘Buy’, 13 rate it a ‘Hold’. No analyst rates it a ‘Sell’.

In terms of share statistics, Cree Inc. has a total of 103.05 million shares outstanding with 1.55% held by insiders and 87.70% held by institutions. The stock’s short interest currently stands at 19.63%, bringing the total number of shares sold short to 19.86 million.

Cree, Inc shares are down 23.09% year-over-year and 20.92% year-to-date.

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