Alliance Fiber Optic Products (AFOP) Announces Quarterly Earnings, Beats Expectations By $0.01 EPS
Alliance Fiber Optic Products (NASDAQ:AFOP) issued its quarterly earnings data on Monday. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01, Stock Ratings Network reports. The company had revenue of $24.20 million for the quarter, compared to the consensus estimate of $25.21 million.
Shares of Alliance Fiber Optic Products (NASDAQ:AFOP) traded down 1.36% on Monday, hitting $16.62. The stock had a trading volume of 870,681 shares. Alliance Fiber Optic Products has a 52-week low of $11.16 and a 52-week high of $23.94. The stock has a 50-day moving average of $18.42 and a 200-day moving average of $16.61. The company has a market cap of $307.0 million and a P/E ratio of 14.38.
A number of research firms have recently commented on AFOP. Analysts at Sidoti initiated coverage on shares of Alliance Fiber Optic Products in a research note on Thursday, July 3rd. They set a “buy” rating and a $28.00 price target on the stock. On a related note, analysts at Zacks downgraded shares of Alliance Fiber Optic Products from an “outperform” rating to a “neutral” rating in a research note on Wednesday, June 25th. They now have a $23.70 price target on the stock. Finally, analysts at B. Riley raised their price target on shares of Alliance Fiber Optic Products from $20.00 to $22.00 in a research note on Wednesday, April 30th. They now have a “buy” rating on the stock.
Alliance Fiber Optic Products Inc (NASDAQ:AFOP) designs, manufactures and markets a range of fiber optic components, and integrated modules incorporating these components, for communications equipment manufacturers and service providers.
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