Cray Inc. (NASDAQ:CRAY) Expected to Post Quarterly Sales of $72.15 Million

Brokerages expect Cray Inc. (NASDAQ:CRAY) to report $72.15 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Cray’s earnings. The highest sales estimate is $73.30 million and the lowest is $71.00 million. Cray posted sales of $120.20 million in the same quarter last year, which suggests a negative year over year growth rate of 40%. The firm is expected to announce its next earnings results on Tuesday, July 30th.

According to Zacks, analysts expect that Cray will report full year sales of $470.75 million for the current year, with estimates ranging from $467.00 million to $474.50 million. For the next financial year, analysts anticipate that the firm will report sales of $547.75 million, with estimates ranging from $545.50 million to $550.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Cray.

Cray (NASDAQ:CRAY) last issued its earnings results on Tuesday, May 7th. The technology company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.09). Cray had a negative return on equity of 17.89% and a negative net margin of 16.99%. The firm had revenue of $71.55 million during the quarter, compared to the consensus estimate of $70.67 million. During the same period in the prior year, the company posted ($0.53) EPS. The company’s quarterly revenue was down 10.1% on a year-over-year basis.

Several research firms have commented on CRAY. BidaskClub downgraded shares of Cray from a “hold” rating to a “sell” rating in a report on Friday, June 21st. Zacks Investment Research cut shares of Cray from a “hold” rating to a “sell” rating in a report on Friday, May 10th. ValuEngine raised shares of Cray from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 19th. Finally, TheStreet raised shares of Cray from a “d+” rating to a “c-” rating in a report on Thursday, March 14th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $33.00.

In related news, VP Brian C. Henry sold 36,000 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $28.97, for a total transaction of $1,042,920.00. Following the transaction, the vice president now directly owns 106,546 shares in the company, valued at $3,086,637.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Brian C. Henry sold 52,409 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $31.66, for a total transaction of $1,659,268.94. Following the transaction, the vice president now owns 31,475 shares in the company, valued at $996,498.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 92,000 shares of company stock worth $2,809,919. Company insiders own 4.00% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of CRAY. Primecap Management Co. CA boosted its stake in shares of Cray by 0.9% in the first quarter. Primecap Management Co. CA now owns 329,400 shares of the technology company’s stock valued at $8,581,000 after purchasing an additional 3,000 shares during the period. Granite Investment Partners LLC raised its holdings in Cray by 14.9% during the first quarter. Granite Investment Partners LLC now owns 750,610 shares of the technology company’s stock worth $19,553,000 after purchasing an additional 97,108 shares in the last quarter. Piedmont Investment Advisors Inc. raised its holdings in Cray by 5.4% during the first quarter. Piedmont Investment Advisors Inc. now owns 10,239 shares of the technology company’s stock worth $267,000 after purchasing an additional 529 shares in the last quarter. Penserra Capital Management LLC acquired a new stake in Cray during the first quarter worth approximately $411,000. Finally, Laurion Capital Management LP acquired a new stake in Cray during the first quarter worth approximately $681,000. Hedge funds and other institutional investors own 97.34% of the company’s stock.

Shares of CRAY traded up $0.07 during midday trading on Friday, hitting $34.68. 14,610 shares of the company traded hands, compared to its average volume of 675,472. The firm has a 50 day simple moving average of $33.88. Cray has a 52 week low of $18.76 and a 52 week high of $36.64. The stock has a market cap of $1.43 billion, a PE ratio of -24.44 and a beta of 0.90. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.62 and a current ratio of 3.33.

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.

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