Oclaro PT Lowered to $2.50 (OCLR)
Investment analysts at B. Riley cut their price objective on shares of Oclaro (NASDAQ:OCLR) from $3.10 to $2.50 in a note issued to investors on Wednesday, Analyst Ratings Network reports. B. Riley’s price objective indicates a potential upside of 42.86% from the company’s current price.
Oclaro (NASDAQ:OCLR) opened at 1.75 on Wednesday. Oclaro has a 1-year low of $0.88 and a 1-year high of $3.57. The stock’s 50-day moving average is $3.00 and its 200-day moving average is $2.62. The company’s market cap is $186.5 million.
Oclaro (NASDAQ:OCLR) last announced its earnings results on Tuesday, May 6th. The company reported ($0.17) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.16) by $0.01. The company had revenue of $95.39 million for the quarter, compared to the consensus estimate of $98.79 million. During the same quarter in the prior year, the company posted ($0.37) earnings per share. The company’s quarterly revenue was down 6.0% on a year-over-year basis. On average, analysts predict that Oclaro will post $-0.89 earnings per share for the current fiscal year.
Oclaro, Inc, is a provider of optical communications and laser components, modules and subsystems for a range of markets, including telecommunications (NASDAQ:OCLR), industrial, scientific, consumer electronics and medical.
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