Wall Street brokerages expect Finisar Co. (NASDAQ:FNSR) to report sales of $310.17 million for the current quarter, Zacks reports. Seven analysts have made estimates for Finisar’s earnings, with estimates ranging from $307.50 million to $313.40 million. Finisar reported sales of $357.53 million during the same quarter last year, which indicates a negative year over year growth rate of 13.2%. The firm is scheduled to announce its next quarterly earnings report on Thursday, June 21st.
According to Zacks, analysts expect that Finisar will report full year sales of $310.17 million for the current year, with estimates ranging from $1.31 billion to $1.35 billion. For the next year, analysts anticipate that the business will report sales of $1.41 billion per share, with estimates ranging from $1.34 billion to $1.48 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Finisar.
Finisar (NASDAQ:FNSR) last posted its earnings results on Thursday, March 8th. The technology company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.03). The business had revenue of $332.40 million for the quarter, compared to analyst estimates of $333.15 million. Finisar had a return on equity of 5.97% and a net margin of 7.35%. Finisar’s revenue was down 12.7% compared to the same quarter last year. During the same period last year, the business earned $0.59 EPS.
FNSR has been the subject of a number of recent analyst reports. Goldman Sachs set a $15.00 target price on Finisar and gave the company a “sell” rating in a report on Friday, March 9th. Piper Jaffray Companies boosted their target price on Finisar from $22.00 to $28.00 in a report on Wednesday, December 13th. DA Davidson reissued a “buy” rating and issued a $30.00 target price on shares of Finisar in a report on Wednesday, November 29th. Raymond James Financial set a $26.00 target price on Finisar and gave the company a “buy” rating in a report on Tuesday, December 19th. Finally, Needham & Company LLC downgraded Finisar from a “buy” rating to a “hold” rating and boosted their target price for the company from $16.64 to $29.41 in a report on Friday, March 9th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $24.56.
In other Finisar news, Director Jerry S. Rawls sold 30,209 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $17.94, for a total transaction of $541,949.46. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Roger C. Ferguson sold 3,000 shares of the stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $21.68, for a total value of $65,040.00. Following the transaction, the director now directly owns 41,034 shares in the company, valued at approximately $889,617.12. The disclosure for this sale can be found here. Corporate insiders own 1.02% of the company’s stock.
Several institutional investors have recently modified their holdings of the business. Ladenburg Thalmann Financial Services Inc. increased its holdings in Finisar by 103.4% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,728 shares of the technology company’s stock valued at $127,000 after purchasing an additional 2,912 shares in the last quarter. Cubist Systematic Strategies LLC increased its holdings in Finisar by 598.3% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 7,004 shares of the technology company’s stock valued at $155,000 after purchasing an additional 6,001 shares in the last quarter. First Mercantile Trust Co. acquired a new stake in Finisar in the 4th quarter valued at $158,000. Janney Montgomery Scott LLC acquired a new stake in Finisar in the 3rd quarter valued at $217,000. Finally, Aperio Group LLC acquired a new stake in Finisar in the 4th quarter valued at $231,000. 93.46% of the stock is currently owned by institutional investors.
Finisar (NASDAQ:FNSR) opened at $17.65 on Tuesday. Finisar has a one year low of $16.64 and a one year high of $29.07. The company has a market capitalization of $2,072.54, a price-to-earnings ratio of 21.77, a P/E/G ratio of 2.74 and a beta of 1.02. The company has a current ratio of 4.06, a quick ratio of 3.24 and a debt-to-equity ratio of 0.29.
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Finisar Company Profile
Finisar Corporation (Finisar) is a provider of optical subsystems and components that are used in data communication and telecommunication applications. The Company’s optical subsystems consist of transmitters, receivers, transceivers, transponders and active optical cables, which provide the fundamental optical-electrical or optoelectronic interface for interconnecting the electronic equipment used in these networks, including the switches, routers, and servers used in wireline networks.
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