Brokerages predict that Viavi Solutions Inc (NASDAQ:VIAV) will announce $281.23 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Viavi Solutions’ earnings, with the highest sales estimate coming in at $283.33 million and the lowest estimate coming in at $280.50 million. Viavi Solutions posted sales of $201.80 million in the same quarter last year, which would suggest a positive year over year growth rate of 39.4%. The company is expected to announce its next earnings results after the market closes on Tuesday, February 5th.
According to Zacks, analysts expect that Viavi Solutions will report full-year sales of $1.08 billion for the current financial year, with estimates ranging from $1.07 billion to $1.08 billion. For the next financial year, analysts expect that the business will post sales of $1.14 billion, with estimates ranging from $1.10 billion to $1.20 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Viavi Solutions.
Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings results on Thursday, November 1st. The communications equipment provider reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.01. The business had revenue of $268.50 million for the quarter, compared to analysts’ expectations of $268.73 million. Viavi Solutions had a positive return on equity of 12.72% and a negative net margin of 5.92%. The firm’s quarterly revenue was up 40.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.11 earnings per share.
Several research firms have weighed in on VIAV. BidaskClub raised Viavi Solutions from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 4th. Zacks Investment Research raised Viavi Solutions from a “hold” rating to a “strong-buy” rating and set a $14.00 target price on the stock in a research note on Wednesday, October 17th. ValuEngine raised Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, October 2nd. Stifel Nicolaus began coverage on Viavi Solutions in a research note on Monday, October 22nd. They issued a “buy” rating and a $14.00 target price on the stock. Finally, Deutsche Bank raised Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Monday, October 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Viavi Solutions has a consensus rating of “Buy” and an average target price of $11.88.
Viavi Solutions stock opened at $10.65 on Friday. The stock has a market capitalization of $2.42 billion, a P/E ratio of 31.32 and a beta of 0.76. Viavi Solutions has a 12-month low of $8.49 and a 12-month high of $12.82. The company has a current ratio of 2.39, a quick ratio of 2.18 and a debt-to-equity ratio of 0.79.
In other Viavi Solutions news, Director Keith Barnes sold 11,074 shares of the firm’s stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $9.73, for a total value of $107,750.02. Following the completion of the transaction, the director now directly owns 98,471 shares in the company, valued at $958,122.83. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders sold 13,149 shares of company stock valued at $127,959. Corporate insiders own 0.50% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue boosted its stake in shares of Viavi Solutions by 2.5% during the 4th quarter. State of Alaska Department of Revenue now owns 76,388 shares of the communications equipment provider’s stock worth $767,000 after acquiring an additional 1,840 shares during the period. Meeder Asset Management Inc. bought a new stake in Viavi Solutions in the 4th quarter valued at $31,000. TIAA CREF Investment Management LLC boosted its stake in Viavi Solutions by 0.7% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 515,752 shares of the communications equipment provider’s stock valued at $5,849,000 after purchasing an additional 3,731 shares during the period. Metropolitan Life Insurance Co. NY boosted its stake in Viavi Solutions by 7.2% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 73,365 shares of the communications equipment provider’s stock valued at $751,000 after purchasing an additional 4,958 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Viavi Solutions by 13.1% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 54,123 shares of the communications equipment provider’s stock valued at $614,000 after purchasing an additional 6,251 shares during the period. Institutional investors own 89.76% of the company’s stock.
About Viavi Solutions
Viavi Solutions Inc provides network test, monitoring, and assurance solutions to communications service providers, enterprises, network equipment manufacturers, civil government, military, and avionics customers worldwide. The company operates through Network Enablement, Service Enablement, and Optical Security and Performance Products segments.
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