Finisar Earns Fair Value Rating from Janney Montgomery Scott (FNSR)
Finisar (NASDAQ:FNSR)‘s stock had its “fair value” rating reiterated by investment analysts at Janney Montgomery Scott in a note issued to investors on Friday. They currently have a $22.00 price target on the stock, down from their previous price target of $23.00. Janney Montgomery Scott’s price objective suggests a potential upside of 19.76% from the company’s current price.
A number of other analysts have also recently weighed in on FNSR. Analysts at Barclays cut their price target on shares of Finisar from $32.00 to $28.00 in a research note on Friday. They now have an “overweight” rating on the stock. Separately, analysts at RBC Capital reiterated an “outperform” rating on shares of Finisar in a research note on Friday. They now have a $19.00 price target on the stock, down previously from $21.00. Finally, 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $22.89.
Finisar (NASDAQ:FNSR) traded down 4.95% during mid-day trading on Friday, hitting $17.46. The stock had a trading volume of 8,679,796 shares. Finisar has a one year low of $18.35 and a one year 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 $1.699 billion and a P/E ratio of 16.79.
Finisar (NASDAQ:FNSR) last announced its earnings results 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. 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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