Equities research analysts predict that Finisar Co. (NASDAQ:FNSR) will announce sales of $334.62 million for the current quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Finisar’s earnings. The highest sales estimate is $338.26 million and the lowest is $330.10 million. Finisar reported sales of $380.59 million in the same quarter last year, which indicates a negative year-over-year growth rate of 12.1%. The business is scheduled to issue its next quarterly earnings report on Thursday, March 8th.
According to Zacks, analysts expect that Finisar will report full-year sales of $334.62 million for the current financial year, with estimates ranging from $1.32 billion to $1.36 billion. For the next fiscal year, analysts anticipate that the company will post sales of $1.48 billion per share, with estimates ranging from $1.42 billion to $1.61 billion. Zacks’ sales averages are an average based on a survey of analysts that cover Finisar.
Finisar (NASDAQ:FNSR) last announced its quarterly earnings results on Thursday, December 7th. The technology company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. Finisar had a net margin of 14.33% and a return on equity of 9.51%. The firm had revenue of $332.21 million during the quarter, compared to analyst estimates of $331.69 million.
Several analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Finisar from a “sell” rating to a “hold” rating in a research report on Thursday, February 8th. ValuEngine lowered shares of Finisar from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Loop Capital assumed coverage on shares of Finisar in a research report on Monday, January 29th. They set a “hold” rating and a $19.00 target price for the company. Piper Jaffray Companies lowered shares of Finisar from an “overweight” rating to a “neutral” rating in a research report on Monday, January 29th. Finally, Stifel Nicolaus dropped their price target on shares of Finisar from $26.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday, January 24th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $27.27.
Shares of Finisar (NASDAQ FNSR) traded down $0.30 during mid-day trading on Wednesday, hitting $17.90. 1,793,824 shares of the stock were exchanged, compared to its average volume of 2,990,000. Finisar has a 52-week low of $16.64 and a 52-week high of $35.56. The company has a market capitalization of $2,040.00, a price-to-earnings ratio of 10.23, a PEG ratio of 1.93 and a beta of 1.07. The company has a debt-to-equity ratio of 0.44, a current ratio of 7.81 and a quick ratio of 6.31.
In other news, EVP John H. Clark sold 6,186 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $24.90, for a total value of $154,031.40. Following the transaction, the executive vice president now owns 146,053 shares of the company’s stock, valued at $3,636,719.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Mark Colyar sold 1,692 shares of the business’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $22.15, for a total transaction of $37,477.80. The disclosure for this sale can be found here. Insiders sold 62,578 shares of company stock worth $1,273,865 in the last three months. Insiders own 1.02% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. raised its stake in Finisar by 103.4% during the third 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. PNC Financial Services Group Inc. raised its stake in Finisar by 43.9% during the second quarter. PNC Financial Services Group Inc. now owns 5,912 shares of the technology company’s stock valued at $153,000 after purchasing an additional 1,805 shares in the last quarter. Cubist Systematic Strategies LLC raised its stake in Finisar by 598.3% during the third 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. purchased a new stake in Finisar during the fourth quarter valued at $158,000. Finally, Advisory Services Network LLC raised its stake in Finisar by 20.6% during the second quarter. Advisory Services Network LLC now owns 8,500 shares of the technology company’s stock valued at $221,000 after purchasing an additional 1,450 shares in the last quarter. 91.42% of the stock is currently owned by hedge funds and other institutional investors.
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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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