NEW YORK (TheStreet) -- Shares of Cree Inc. are higher by 4.76% to $33.88 in pre-market trading on Wednesday morning, after the company reported its fiscal 2015 second quarter financial results, which exceeded analysts expectations. For the most recent quarter Cree said its non-GAAP earnings were 33 cents per diluted share. Analysts were expecting earnings of 21 cents per share for the quarter. Cree's revenue for the second quarter of fiscal 2015 was $413.2 million. Analysts had forecast for revenue of $404.42 million for the latest quarter. Exclusive Report: Jim Cramer's Best Stocks for 2015 STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. The LED lighting products maker said it made "solid progress in [the second quarter] with operating margin higher than targeted due to an improvement in gross margins in our lighting business." Separately, TheStreet Ratings team rates CREE INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation: "We rate CREE INC (CREE) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, unimpressive growth in net income and weak operating cash flow." You can view the full analysis from the report here: CREE Ratings Report CREE data by YCharts STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
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