Finisar Stock Rating Reaffirmed by Raymond James (FNSR)
Finisar (NASDAQ:FNSR)‘s stock had its “strong-buy” rating restated by investment analysts at Raymond James in a note issued to investors on Friday. They currently have a $28.00 target price on the stock, down from their previous target price of $35.00. Raymond James’ target price points to a potential upside of 10.89% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at MKM Partners cut their price target on shares of Finisar from $30.00 to $26.00 in a research note on Friday. They now have a “buy” rating on the stock. Separately, analysts at Stifel cut their price target on shares of Finisar from $31.00 to $26.00 in a research note on Friday. They now have a “buy” rating on the stock. Finally, analysts at Craig Hallum downgraded shares of Finisar from a “buy” rating to a “hold” rating in a research note on Friday. They now have a $23.00 price target on the stock, down previously from $30.00. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $27.19.
Finisar (NASDAQ:FNSR) traded down 22.61% on Friday, hitting $19.54. 23,589,840 shares of the company’s stock traded hands. Finisar has a 1-year low of $13.92 and a 1-year high of $28.85. The stock’s 50-day moving average is $24.42 and its 200-day moving average is $24.02. The company has a market cap of $1.891 billion and a P/E ratio of 28.86.
Finisar (NASDAQ:FNSR) last announced its earnings results on Thursday, June 12th. The company reported $0.36 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.38 by $0.02. The company had revenue of $306.03 million for the quarter, compared to the consensus estimate of $303.92 million. During the same quarter in the prior year, the company posted $0.20 earnings per share. The company’s quarterly revenue was up 25.7% on a year-over-year basis. On average, analysts predict that Finisar will post $1.56 earnings per share for the current fiscal year.
In other Finisar news, VP Mark Colyar sold 8,100 shares of Finisar stock on the open market in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $24.90, for a total value of $201,690.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Finisar Corporation (NASDAQ:FNSR) is a provider of optical subsystems and components that are used in data communication and telecommunication applications.
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