Newport Co. (NEWP) Downgraded by Noble Financial to "Hold"
Monday, July 11, 2021 1:41 PM

Equities research analysts at Noble Financial downgraded shares of Newport Co. (NASDAQ: NEWP) from a "buy" rating to a "hold" rating in a research note to investors on Monday.

Separately, analysts at Stifel Nicolaus raised their price target on shares of Newport Co. from $25.00 to $27.00 in a research note to investors on Monday. They now have a "buy" rating on the stock. Also, analysts at Zacks Investment Research reiterated a "neutral" rating on shares of Newport Co. in a research note to investors on Thursday, May 12nd.

Shares of Newport Co. traded down 2.87% during mid-day trading on Tuesday, hitting $18.60. Newport Co. has a 52 week low of $8.30 and a 52 week high of $19.84. The stock's 50-day moving average is $17.28 and its 200-day moving average is $16.86. The company has a market cap of $696.8 million and a price-to-earnings ratio of 12.92.

Newport Co. last announced its quarterly results on Wednesday, April 27th. The company reported $0.35 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.28 EPS by $0.07. During the same quarter in the prior year, the company posted $0.14 earnings per share. The company’s quarterly revenue was up 19.80% on a year-over-year basis. On average, analysts predict that Newport Co. will post $0.38 EPS next quarter.

Newport Corporation is a supplier of advanced technology products and systems to a range of industries, including scientific research, microelectronics, aerospace and defense/security, life and health sciences, and industrial manufacturing. The Company provides a portfolio of products to customers in these end markets for photonics solutions. Newport Corporation operates within two business segments: Lasers Division and Photonics and Precision Technologies (PPT) Division. Both of its divisions offer a range of advanced technology products and services to original equipment manufacturer (OEM) and end user customers across a range of applications and markets. In July 2009, the Company acquired the New Focus business of Oclaro, Inc. (Oclaro). In July 2010, the Company sold its Hilger Crystals subsidiary to Dynasil Corporation.

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