Oplink Communications Inc. (OPLK) Updates Q2 Earnings Guidance
Oplink Communications Inc. (NASDAQ:OPLK) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.06-0.12 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.26, American Banking News reports. The company issued revenue guidance of $47-51 million, compared to the consensus revenue estimate of $55.18 million.
Oplink Communications Inc. (NASDAQ:OPLK) traded down 1.83% on Thursday, hitting $18.25. 163,052 shares of the company’s stock traded hands. Oplink Communications Inc. has a 52 week low of $14.26 and a 52 week high of $22.54. The stock has a 50-day moving average of $19.07 and a 200-day moving average of $18.52. The company has a market cap of $352.2 million and a price-to-earnings ratio of 26.94.
Oplink Communications (NASDAQ:OPLK) last announced its earnings results on Thursday, October 31st. The company reported $0.21 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.22 by $0.01. The company had revenue of $54.80 million for the quarter, compared to the consensus estimate of $53.35 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. The company’s quarterly revenue was up 22.3% on a year-over-year basis. Analysts expect that Oplink Communications Inc. will post $1.04 EPS for the current fiscal year.
A number of research firms have recently commented on OPLK. Analysts at B. Riley raised their price target on shares of Oplink Communications from $24.75 to $26.00 in a research note to investors on Friday, August 9th. They now have a buy rating on the stock. Analysts at Stifel Nicolaus raised their price target on shares of Oplink Communications from $20.00 to $24.00 in a research note to investors on Friday, August 9th. They now have a buy rating on the stock.
Oplink Communications, Inc designs, manufactures and sells optical networking components and subsystems.
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