Finisar Co. (FNSR) Issues Q2 Earnings Guidance
Finisar Co. (NASDAQ:FNSR) updated its second quarter earnings guidance on Thursday. The company provided EPS guidance of $0.23-0.27 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.35, Stock Ratings News reports. The company issued revenue guidance of $305-320 million, compared to the consensus revenue estimate of $333.36 million.
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. On a related note, 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 given a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $26.38.
Shares of Finisar Co. (NASDAQ:FNSR) traded down 2.75% on Thursday, hitting $18.37. The stock had a trading volume of 6,663,397 shares. Finisar Co. has a 52 week low of $18.58 and a 52 week high of $28.85. The stock’s 50-day moving average is $19.90 and its 200-day moving average is $22.87. The company has a market cap of $1.788 billion and a price-to-earnings ratio of 17.27.
Finisar (NASDAQ:FNSR) last released its earnings data on Thursday, September 4th. The company reported $0.32 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.32. The company had revenue of $327.60 million for the quarter, compared to the consensus estimate of $320.70 million. During the same quarter in the prior year, the company posted $0.31 earnings per share. The company’s quarterly revenue was up 23.1% on a year-over-year basis. Analysts expect that Finisar Co. 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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