Finisar Earns Outperform Rating from RBC Capital (FNSR)
Finisar (NASDAQ:FNSR)‘s stock had its “outperform” rating restated by investment analysts at RBC Capital in a note issued to investors on Tuesday. They currently have a $21.00 price objective on the stock, down from their previous price objective of $23.00. RBC Capital’s price objective would suggest a potential upside of 4.48% from the company’s current price.
Finisar (NASDAQ:FNSR) traded down 0.81% on Tuesday, hitting $19.9375. 364,705 shares of the company’s stock traded hands. Finisar has a 1-year low of $18.96 and a 1-year high of $28.85. The stock’s 50-day moving average is $19.98 and its 200-day moving average is $23.09. The company has a market cap of $1.940 billion and a P/E ratio of 18.37.
Finisar (NASDAQ:FNSR) last announced its earnings results on Thursday, June 12th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted $0.20 earnings per share. The company’s revenue for the quarter was up 25.7% on a year-over-year basis. On average, analysts predict that Finisar will post $1.43 earnings per share for the current fiscal year.
In other Finisar news, VP Todd Swanson sold 4,946 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $20.00, for a total transaction of $98,920.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of other analysts have also recently weighed in on FNSR. Analysts at Zacks upgraded shares of Finisar from an “underperform” rating to a “neutral” rating in a research note on Wednesday, August 13th. They now have a $20.50 price target on the stock. Separately, 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. Finally, 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 research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $27.05.
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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