Q2 2017 EPS Estimates for Oclaro Inc. Decreased by Analyst (OCLR)
Oclaro Inc. (NASDAQ:OCLR) – Investment analysts at B. Riley decreased their Q2 2017 earnings per share (EPS) estimates for Oclaro in a research note issued to investors on Thursday. B. Riley analyst D. Kang now forecasts that the firm will post earnings of $0.09 per share for the quarter, down from their previous forecast of $0.10. B. Riley currently has a “Buy” rating and a $11.00 price objective on the stock. B. Riley also issued estimates for Oclaro’s Q4 2017 earnings at $0.09 EPS and FY2017 earnings at $0.34 EPS.
Oclaro (NASDAQ:OCLR) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. The business earned $125.20 million during the quarter, compared to analyst estimates of $119.41 million. Oclaro had a net margin of 2.10% and a return on equity of 6.24%. The firm’s revenue was up 52.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.06) earnings per share.
A number of other analysts have also commented on the company. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $10.50 price objective (up from $9.00) on shares of Oclaro in a research report on Friday. Vetr lowered Oclaro from a “strong-buy” rating to a “buy” rating and set a $10.31 price objective for the company. in a research report on Thursday. Zacks Investment Research lowered Oclaro from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 5th. Jefferies Group assumed coverage on Oclaro in a research report on Monday, October 3rd. They issued a “buy” rating and a $11.25 price objective for the company. Finally, Stifel Nicolaus lifted their price objective on Oclaro from $7.50 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, September 6th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $8.78.
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Shares of Oclaro (NASDAQ:OCLR) opened at 8.99 on Monday. The stock has a 50 day moving average of $8.40 and a 200-day moving average of $6.03. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 115.26 and a beta of 1.82. Oclaro has a 52-week low of $2.37 and a 52-week high of $9.34.
In related news, insider Adam Carter sold 19,506 shares of the business’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $6.00, for a total value of $117,036.00. Following the completion of the transaction, the insider now directly owns 202,584 shares in the company, valued at approximately $1,215,504. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lisa Paul sold 9,363 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $7.69, for a total value of $72,001.47. Following the completion of the transaction, the executive vice president now owns 218,264 shares of the company’s stock, valued at $1,678,450.16. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.
Several institutional investors have recently modified their holdings of OCLR. 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 valued at $108,000 after buying an additional 10,000 shares in the last quarter. Quentec Asset Management LLC raised its position in shares of Oclaro by 19.9% in the first quarter. Quentec Asset Management LLC now owns 945,105 shares of the company’s stock valued at $5,104,000 after buying an additional 157,040 shares in the last quarter. Barclays PLC raised its position in shares of Oclaro by 245.1% in the first quarter. Barclays PLC now owns 76,634 shares of the company’s stock valued at $384,000 after buying an additional 54,428 shares in the last quarter. A.R.T. Advisors LLC acquired a new position in shares of Oclaro during the first quarter valued at about $612,000. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Oclaro by 136.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 666,387 shares of the company’s stock valued at $3,598,000 after buying an additional 384,062 shares in the last quarter. Institutional investors and hedge funds own 62.49% 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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