Finisar Downgraded by Jefferies Group to “Hold” (FNSR)
Finisar (NASDAQ:FNSR) was downgraded by equities researchers at Jefferies Group from a “buy” rating to a “hold” rating in a research report issued on Tuesday, TheFlyOnTheWall.com reports. They currently have a $19.00 price target on the stock, down from their previous price target of $25.00. Jefferies Group’s price objective indicates a potential downside of 6.45% from the company’s current price.
A number of other firms have also recently commented on FNSR. Analysts at RBC Capital reiterated an “outperform” rating on shares of Finisar in a research note on Tuesday, August 19th. They now have a $21.00 price target on the stock, down previously from $23.00. Separately, 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. Finally, 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. One analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $26.38.
Finisar (NASDAQ:FNSR) traded down 5.81% on Tuesday, hitting $19.13. 4,717,363 shares of the company’s stock traded hands. Finisar has a one year low of $18.96 and a one year high of $28.85. The stock has a 50-day moving average of $19.98 and a 200-day moving average of $22.94. The company has a market cap of $1.862 billion and a price-to-earnings ratio of 18.56.
Finisar (NASDAQ:FNSR) last released its earnings data 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 $1.42 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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