Finisar’s “Overweight” Rating Reaffirmed at Barclays (FNSR)
Finisar (NASDAQ:FNSR)‘s stock had its “overweight” rating reaffirmed by analysts at Barclays in a research report issued to clients and investors on Friday. They currently have a $28.00 price objective on the stock, down from their previous price objective of $32.00. Barclays’ price target would suggest a potential upside of 52.42% from the stock’s previous close.
Shares of Finisar (NASDAQ:FNSR) opened at 18.37 on Friday. 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 $1.788 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 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. On average, analysts predict that Finisar will post $1.42 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at RBC Capital cut their price target on shares of Finisar from $21.00 to $19.00 in a research note on Friday. They now have an “outperform” rating on the stock. Separately, 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. Finally, analysts at Stifel Nicolaus downgraded shares of Finisar from a “buy” rating to a “hold” rating in a research note on Friday. One equities 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 given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price 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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