MRV Communications Inc. (MRVC) Given Consensus Recommendation of “Strong Buy” by Analysts
Shares of MRV Communications Inc. (NASDAQ:MRVC) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.
Analysts have set a 12-month consensus target price of $15.00 for the company and are anticipating that the company will post ($0.12) EPS for the current quarter, according to Zacks. Zacks has also assigned MRV Communications an industry rank of 30 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research upgraded MRV Communications from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Wednesday, August 10th.
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Shares of MRV Communications (NASDAQ:MRVC) remained flat at $12.31 during mid-day trading on Thursday. The company had a trading volume of 1,040 shares. The company’s 50 day moving average price is $12.15 and its 200 day moving average price is $11.17. MRV Communications has a 52 week low of $8.75 and a 52 week high of $15.20. The firm’s market cap is $84.66 million.
MRV Communications (NASDAQ:MRVC) last issued its earnings results on Thursday, August 4th. The company reported ($0.19) earnings per share (EPS) for the quarter. MRV Communications had a negative return on equity of 22.03% and a negative net margin of 12.20%. The firm earned $21.60 million during the quarter, compared to the consensus estimate of $24.50 million. Analysts forecast that MRV Communications will post ($0.80) earnings per share for the current year.
Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of MRV Communications by 16.7% in the second quarter. Vanguard Group Inc. now owns 126,500 shares of the company’s stock worth $1,430,000 after buying an additional 18,126 shares in the last quarter. Renaissance Technologies LLC raised its stake in MRV Communications by 16.0% in the first quarter. Renaissance Technologies LLC now owns 114,500 shares of the company’s stock worth $1,037,000 after buying an additional 15,800 shares during the last quarter. Finally, Spark Investment Management LLC raised its stake in MRV Communications by 7.6% in the first quarter. Spark Investment Management LLC now owns 48,400 shares of the company’s stock worth $438,000 after buying an additional 3,400 shares during the last quarter. Institutional investors own 39.41% of the company’s stock.
About MRV Communications
MRV Communications, Inc (MRV) is a supplier of communications solutions to telecommunications service providers, enterprises and governments throughout the world. The Company’s products enable customers to provide high-bandwidth data, and video services and mobile communications services. The Company operates through Network Equipment segment.
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