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

Equities research analysts predict that Cray Inc. (NASDAQ:CRAY) will report $71.00 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Cray’s earnings. Cray posted sales of $79.59 million in the same quarter last year, which would indicate a negative year over year growth rate of 10.8%. The company is scheduled to announce its next earnings results 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 fiscal year, analysts anticipate that the business will post sales of $542.60 million, with estimates ranging from $540.00 million to $545.20 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Cray.

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

A number of equities research analysts have issued reports on the company. ValuEngine upgraded Cray from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 19th. TheStreet upgraded Cray from a “d+” rating to a “c-” rating in a research note on Thursday, March 14th. Zacks Investment Research upgraded Cray from a “sell” rating to a “hold” rating in a research note on Tuesday, December 4th. BidaskClub upgraded shares of Cray from a “hold” rating to a “buy” rating in a research note on Friday, March 1st. Finally, KeyCorp cut their price objective on shares of Cray from $33.00 to $30.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 13th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $32.50.

CRAY stock traded up $0.31 during mid-day trading on Friday, reaching $26.05. The company had a trading volume of 172,028 shares, compared to its average volume of 304,854. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -18.35 and a beta of 1.36. Cray has a one year low of $18.76 and a one year high of $28.60.

In related news, CEO Peter J. Ungaro sold 86,971 shares of Cray stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $22.61, for a total transaction of $1,966,414.31. Following the sale, the chief executive officer now directly owns 322,647 shares in the company, valued at $7,295,048.67. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Michael Charles Piraino sold 25,000 shares of Cray stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $22.20, for a total transaction of $555,000.00. Following the sale, the senior vice president now owns 63,230 shares in the company, valued at $1,403,706. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 175,000 shares of company stock worth $3,932,634. Company insiders own 4.10% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in Cray by 10.0% during the fourth quarter. Geode Capital Management LLC now owns 515,429 shares of the technology company’s stock worth $11,128,000 after acquiring an additional 47,058 shares during the period. Norges Bank acquired a new position in Cray during the fourth quarter worth about $5,536,000. Actinver Wealth Management Inc. acquired a new position in Cray during the fourth quarter worth about $206,000. Millennium Management LLC grew its holdings in Cray by 372.4% during the fourth quarter. Millennium Management LLC now owns 237,062 shares of the technology company’s stock worth $5,118,000 after acquiring an additional 186,876 shares during the period. Finally, Legal & General Group Plc grew its holdings in Cray by 4.4% during the fourth quarter. Legal & General Group Plc now owns 97,847 shares of the technology company’s stock worth $2,101,000 after acquiring an additional 4,139 shares during the period. Institutional investors and hedge funds own 98.92% of the company’s stock.

About Cray

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.

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