Finisar Stock Rating Reaffirmed by MKM Partners (FNSR)
Finisar (NASDAQ:FNSR)‘s stock had its “buy” rating reiterated by MKM Partners in a research note issued on Friday. They currently have a $22.00 price objective on the stock, down from their previous price objective of $26.00. MKM Partners’ target price would suggest a potential upside of 19.76% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Janney Montgomery Scott reiterated a “buy” rating on shares of Finisar in a research note on Friday. They now have a $22.00 price target on the stock, down previously from $23.00. Separately, analysts at Barclays reiterated an “overweight” rating on shares of Finisar in a research note on Friday. They now have a $28.00 price target on the stock, down previously from $32.00. Finally, 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. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $23.50.
Shares of Finisar (NASDAQ:FNSR) traded down 3.54% on Friday, hitting $17.72. The stock had a trading volume of 1,424,343 shares. Finisar has a 52-week low of $18.35 and a 52-week high of $28.85. The stock has a 50-day moving average of $19.85 and a 200-day moving average of $22.83. The company has a market cap of $1.724 billion and a price-to-earnings ratio of 16.79.
Finisar (NASDAQ:FNSR) last announced its earnings results 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 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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