Finisar’s Buy Rating Reaffirmed at B. Riley (FNSR)
Finisar (NASDAQ:FNSR)‘s stock had its “buy” rating reiterated by analysts at B. Riley in a research report issued to clients and investors on Friday. They currently have a $25.50 price objective on the stock, down from their previous price objective of $30.00. B. Riley’s price target points to a potential upside of 38.81% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Piper Jaffray cut their price target on shares of Finisar from $24.00 to $21.00 in a research note on Friday. They now have an “overweight” rating on the stock. Separately, 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. Finally, 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $24.50.
Shares of Finisar (NASDAQ:FNSR) opened at 18.37 on Friday. Finisar has a one year low of $18.35 and a one year 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 $1.788 billion and a price-to-earnings ratio of 17.27.
Finisar (NASDAQ:FNSR) last announced its earnings results on Thursday, September 4th. The company reported $0.32 earnings per share (EPS) for the quarter, meeting the 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 previous year, the company posted $0.31 earnings per share. The company’s revenue for the quarter 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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