Finisar Upgraded to Neutral by Zacks (FNSR)
Finisar (NASDAQ:FNSR) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a report released on Wednesday. The firm currently has a $20.50 price objective on the stock. Zacks‘s price target would suggest a potential upside of 2.65% from the stock’s current price.
A number of other firms have also recently commented on FNSR. Analysts at Raymond James reiterated a “strong-buy” rating on shares of Finisar in a research note on Tuesday, August 5th. They now have a $27.00 price target on the stock, down previously from $28.00. Separately, analysts at Barrington Research initiated coverage on shares of Finisar in a research note on Friday, July 11th. They set a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $27.86.
Shares of Finisar (NASDAQ:FNSR) traded down 2.05% on Wednesday, hitting $19.5601. The stock had a trading volume of 959,536 shares. Finisar has a 52-week low of $19.04 and a 52-week high of $28.85. The stock’s 50-day moving average is $19.95 and its 200-day moving average is $23.18. The company has a market cap of $1.903 billion and a price-to-earnings ratio of 18.25. Finisar also saw a significant decline in short interest during the month of July. As of July 31st, there was short interest totalling 16,713,633 shares, a decline of 6.9% from the July 15th total of 17,961,597 shares. Based on an average daily volume of 1,325,036 shares, the short-interest ratio is presently 12.6 days. Currently, 17.2% of the company’s shares are sold short.
Finisar (NASDAQ:FNSR) last announced its earnings results on Thursday, June 12th. The company reported $0.36 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.20 earnings per share. Finisar’s revenue was up 25.7% compared to the same quarter last year. On average, analysts predict that Finisar will post $1.43 earnings per share for the current fiscal year.
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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