Finisar Earns Outperform Rating from RBC Capital (FNSR)
Finisar (NASDAQ:FNSR)‘s stock had its “outperform” rating restated by equities researchers at RBC Capital in a research report issued on Friday. They currently have a $19.00 target price on the stock, down from their previous target price of $21.00. RBC Capital’s price target would indicate a potential upside of 3.43% from the company’s current price.
Finisar (NASDAQ:FNSR) opened at 17.67 on Friday. Finisar has a 52 week low of $18.35 and a 52 week high of $28.85. The stock’s 50-day moving average is $19.85 and its 200-day moving average is $22.83. The company has a market cap of $1.719 billion and a P/E ratio of 16.79.
Finisar (NASDAQ:FNSR) last issued its quarterly earnings data on Thursday, September 4th. The company reported $0.32 earnings per share for the quarter, meeting the analysts’ 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 last year, the company posted $0.31 earnings per share. Finisar’s revenue was up 23.1% 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.
A number of other firms have also recently commented on FNSR. Analysts at Needham & Company LLC downgraded shares of Finisar from a “strong-buy” rating to a “buy” rating in a research note on Friday. They now have a $25.00 price target on the stock, down previously from $31.00. Separately, analysts at Stifel Nicolaus downgraded shares of Finisar from a “buy” rating to a “hold” rating in a research note on Friday. Finally, analysts at B. Riley reiterated a “buy” rating on shares of Finisar in a research note on Friday. They now have a $25.50 price target on the stock, down previously from $30.00. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Finisar has a consensus rating of “Buy” and an average price target of $23.83.
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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