Finisar Hits New 1-Year Low at $18.58 (FNSR)
Finisar (NASDAQ:FNSR) reached a new 52-week low on Wednesday , Stock Ratings News reports. The stock traded as low as $18.58 and last traded at $18.70, with a volume of 2,249,318 shares traded. The stock had previously closed at $18.94.
Several analysts have recently commented on the stock. 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Finisar has an average rating of “Buy” and an average price target of $26.38.
The stock has a 50-day moving average of $19. and a 200-day moving average of $22.90. The company has a market cap of $1.838 billion and a P/E ratio of 17.31.
Finisar (NASDAQ:FNSR) last issued its quarterly earnings data 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 $1.42 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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