Finisar (FNSR) Releases Quarterly Earnings Results
Finisar (NASDAQ:FNSR) posted its quarterly earnings results on Thursday. The company reported $0.32 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.32, AR Network reports. The company had revenue of $327.60 million for the quarter, compared to the consensus estimate of $320.70 million. During the same quarter last year, the company posted $0.31 earnings per share. Finisar’s revenue was up 23.1% compared to the same quarter last year. Finisar updated its Q2 guidance to $0.23-0.27 EPS.
Shares of Finisar (NASDAQ:FNSR) traded down 2.75% during mid-day trading on Thursday, hitting $18.37. The stock had a trading volume of 6,637,928 shares. Finisar has a 52-week low of $18.58 and a 52-week high of $28.85. The stock has a 50-day moving average of $19.90 and a 200-day moving average of $22.87. The company has a market cap of $1.788 billion and a price-to-earnings ratio of 17.27.
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 analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $26.38.
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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