Finisar Given Consensus Recommendation of “Buy” by Analysts (NASDAQ:FNSR)
Shares of Finisar (NASDAQ:FNSR) have received a consensus rating of “Buy” from the fourteen brokerages that are presently covering the stock, American Banking News reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation, five have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $26.38.
A number of analysts have recently weighed in on FNSR shares. Analysts at Jefferies Group downgraded shares of Finisar from a “buy” rating to a “hold” rating in a research note on Tuesday. They now have a $19.00 price target on the stock, down previously from $25.00. Separately, 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. Finally, 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.
Shares of Finisar (NASDAQ:FNSR) opened at 20.31 on Tuesday. Finisar has a 52 week low of $18.96 and a 52 week high of $28.85. The stock’s 50-day moving average is $19.98 and its 200-day moving average is $22.94. The company has a market cap of $1.976 billion and a P/E ratio of 18.56.
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. Analysts expect that Finisar will post $1.42 EPS 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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