Oclaro Inc. Expected to Earn Q2 2018 Earnings of $0.13 Per Share (OCLR)
Oclaro Inc. (NASDAQ:OCLR) – Equities research analysts at B. Riley boosted their Q2 2018 earnings estimates for Oclaro in a note issued to investors on Thursday. B. Riley analyst D. Kang now anticipates that the brokerage will post earnings of $0.13 per share for the quarter, up from their prior forecast of $0.12. B. Riley has a “Buy” rating and a $11.00 price target on the stock. B. Riley also issued estimates for Oclaro’s Q3 2018 earnings at $0.12 EPS, Q4 2018 earnings at $0.14 EPS and FY2018 earnings at $0.49 EPS.
Oclaro (NASDAQ:OCLR) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. The business had revenue of $125.20 million for the quarter, compared to analysts’ expectations of $119.41 million. Oclaro had a return on equity of 6.24% and a net margin of 2.10%. Oclaro’s quarterly revenue was up 52.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.06) earnings per share.
Several other research analysts have also recently weighed in on OCLR. Zacks Investment Research cut Oclaro from a “buy” rating to a “hold” rating in a research report on Wednesday, July 6th. Needham & Company LLC raised Oclaro from a “buy” rating to a “strong-buy” rating and increased their price target for the company from $7.00 to $7.50 in a research report on Monday, July 25th. Piper Jaffray Cos. reissued an “overweight” rating and set a $6.75 price target on shares of Oclaro in a research report on Monday, August 1st. Stifel Nicolaus increased their price target on Oclaro from $6.50 to $7.50 and gave the company a “buy” rating in a research report on Wednesday, August 3rd. Finally, MKM Partners increased their price target on Oclaro from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, August 3rd. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Oclaro currently has an average rating of “Buy” and an average target price of $8.65.
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Oclaro (NASDAQ:OCLR) traded down 1.74% during mid-day trading on Friday, hitting $9.06. The stock had a trading volume of 1,827,392 shares. Oclaro has a one year low of $2.37 and a one year high of $9.34. The stock’s 50 day moving average price is $8.36 and its 200 day moving average price is $6.00. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 116.15 and a beta of 1.82.
Several institutional investors have recently made changes to their positions in OCLR. Bayesian Capital Management LP purchased a new position in shares of Oclaro during the first quarter worth $107,000. Peconic Partners LLC raised its position in shares of Oclaro by 100.0% in the first quarter. Peconic Partners LLC now owns 20,000 shares of the company’s stock worth $108,000 after buying an additional 10,000 shares during the period. Stifel Financial Corp purchased a new position in shares of Oclaro during the second quarter worth $108,000. Compagnie Lombard Odier SCmA purchased a new position in shares of Oclaro during the second quarter worth $122,000. Finally, BlackRock Group LTD purchased a new position in shares of Oclaro during the second quarter worth $124,000. Institutional investors own 62.49% of the company’s stock.
In other news, insider Adam Carter sold 19,506 shares of the stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $6.00, for a total transaction of $117,036.00. Following the transaction, the insider now owns 202,584 shares in the company, valued at $1,215,504. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Lisa Paul sold 9,363 shares of the stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $7.69, for a total value of $72,001.47. Following the transaction, the executive vice president now owns 218,264 shares in the company, valued at approximately $1,678,450.16. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.
Oclaro Company Profile
Oclaro, Inc is a provider of optical components, modules and subsystems for the optical transport, service provider, enterprise and data center markets. The Company supplies optical network technology to telecommunication and data communication equipment companies across the world. The Company designs, manufactures and markets optical components, modules and subsystems that generate, detect, combine and separate light signals in optical communications networks.
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