Zacks: Brokerages Expect Cray Inc. (CRAY) Will Announce Quarterly Sales of $71.00 Million

Analysts predict that Cray Inc. (NASDAQ:CRAY) will report sales of $71.00 million for the current quarter, according to Zacks. Two analysts have made estimates for Cray’s earnings. Cray reported sales of $79.59 million in the same quarter last year, which indicates a negative year-over-year growth rate of 10.8%. The company is scheduled to issue its next earnings report on Tuesday, May 7th.

On average, analysts expect that Cray will report full year sales of $481.65 million for the current fiscal year, with estimates ranging from $473.30 million to $490.00 million. For the next financial year, analysts anticipate that the company will post sales of $542.60 million, with estimates ranging from $540.00 million to $545.20 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Cray.

Cray (NASDAQ:CRAY) last announced its quarterly earnings results on Tuesday, February 12th. The technology company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.15). Cray had a negative net margin of 15.72% and a negative return on equity of 15.97%. The firm had revenue of $163.00 million for the quarter, compared to the consensus estimate of $157.90 million. During the same period in the previous year, the company posted $0.22 earnings per share. Cray’s quarterly revenue was down 2.4% on a year-over-year basis.

CRAY has been the subject of a number of research reports. BidaskClub lowered Cray from a “buy” rating to a “hold” rating in a research note on Tuesday, March 26th. KeyCorp dropped their price target on Cray from $33.00 to $30.00 and set an “overweight” rating for the company in a research note on Wednesday, February 13th. ValuEngine lowered Cray from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 2nd. TheStreet raised Cray from a “d+” rating to a “c-” rating in a research note on Thursday, March 14th. Finally, Zacks Investment Research raised Cray from a “sell” rating to a “hold” rating in a research note on Monday, December 31st. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $32.50.

In other news, SVP Michael Charles Piraino sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $22.20, for a total value of $555,000.00. Following the completion of the sale, the senior vice president now directly owns 63,230 shares of the company’s stock, valued at approximately $1,403,706. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Peter J. Ungaro sold 86,971 shares of the firm’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $22.61, for a total value of $1,966,414.31. Following the sale, the chief executive officer now directly owns 322,647 shares of the company’s stock, valued at $7,295,048.67. The disclosure for this sale can be found here. Insiders sold a total of 175,000 shares of company stock valued at $3,932,634 over the last ninety days. Corporate insiders own 4.10% of the company’s stock.

Several hedge funds have recently modified their holdings of CRAY. Emerald Advisers LLC bought a new stake in shares of Cray during the 4th quarter worth approximately $12,792,000. Emerald Mutual Fund Advisers Trust bought a new stake in shares of Cray during the 4th quarter worth approximately $11,664,000. BlackRock Inc. lifted its stake in shares of Cray by 5.1% during the 3rd quarter. BlackRock Inc. now owns 5,800,460 shares of the technology company’s stock worth $124,710,000 after acquiring an additional 279,746 shares during the last quarter. Norges Bank bought a new stake in shares of Cray during the 4th quarter worth approximately $5,536,000. Finally, Victory Capital Management Inc. lifted its stake in shares of Cray by 15.4% during the 4th quarter. Victory Capital Management Inc. now owns 1,574,302 shares of the technology company’s stock worth $33,989,000 after acquiring an additional 209,711 shares during the last quarter. 98.92% of the stock is owned by hedge funds and other institutional investors.

Cray stock traded up $0.06 during midday trading on Friday, reaching $27.49. 2,103 shares of the stock traded hands, compared to its average volume of 369,596. Cray has a 12 month low of $18.76 and a 12 month high of $28.60. The firm has a market cap of $1.11 billion, a PE ratio of -19.36 and a beta of 1.36.

Cray Company Profile

Cray Inc, together with its subsidiaries, designs, develops, manufactures, markets, and services computing products for high-performance computing, data analytics, and AI markets. It operates through Supercomputing, Storage and Data Management, Maintenance and Support, and Engineering Services and Other segments.

Further Reading: What is the LIBOR?

Get a free copy of the Zacks research report on Cray (CRAY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Cray Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cray and related companies with MarketBeat.com's FREE daily email newsletter.