News coverage about Cree (NASDAQ:CREE) has been trending somewhat positive on Wednesday, according to Accern Sentiment Analysis. The research group identifies negative and positive media coverage by monitoring more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Cree earned a coverage optimism score of 0.12 on Accern’s scale. Accern also assigned media stories about the LED producer an impact score of 45.0790102231901 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
Here are some of the media stories that may have impacted Accern Sentiment’s rankings:
- Discover the Global outdoor LED lighting market report (whatech.com)
- ETFs with exposure to Cree, Inc. : October 10, 2017 (finance.yahoo.com)
- Cree, Inc. (CREE) Set to Announce Earnings on Tuesday (americanbankingnews.com)
- Why the LED light bulb matters: Energy efficiency in North Carolina (heraldsun.com)
- Cree, Inc. (CREE) Expected to Announce Earnings of $0.03 Per Share (americanbankingnews.com)
Cree (NASDAQ:CREE) opened at 29.46 on Wednesday. Cree has a 52 week low of $20.50 and a 52 week high of $31.64. The company’s market capitalization is $2.87 billion. The company has a 50 day moving average of $25.65 and a 200 day moving average of $24.75.
Cree (NASDAQ:CREE) last released its quarterly earnings data on Tuesday, August 22nd. The LED producer reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. The firm had revenue of $359.00 million during the quarter, compared to the consensus estimate of $349.82 million. Cree had a negative return on equity of 0.13% and a negative net margin of 7.17%. The firm’s quarterly revenue was down 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 earnings per share. On average, equities analysts forecast that Cree will post $0.30 EPS for the current fiscal year.
Several equities research analysts have weighed in on the stock. J P Morgan Chase & Co cut shares of Cree from a “neutral” rating to an “underweight” rating and increased their price target for the company from $23.00 to $28.00 in a research report on Friday, October 6th. KeyCorp reissued an “equal weight” rating and set a $21.00 price target on shares of Cree in a research report on Friday, August 25th. Cowen and Company set a $22.00 price target on shares of Cree and gave the company a “hold” rating in a research report on Wednesday, August 23rd. Northland Securities reissued a “hold” rating and set a $28.00 price target on shares of Cree in a research report on Thursday, September 28th. Finally, Zacks Investment Research cut shares of Cree from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. Six equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $23.58.
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Cree Company Profile
Cree, Inc is a manufacturer of lighting-class light emitting diode (LED) products, lighting products and semiconductor products for power and radio-frequency (RF) applications. The Company’s products are focused for applications, such as indoor and outdoor lighting, video displays, transportation, electronic signs and signals, power supplies, inverters and wireless systems.
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