Analysts Anticipate EXFO Inc (NASDAQ:EXFO) Will Announce Quarterly Sales of $60.90 Million
Brokerages forecast that EXFO Inc (NASDAQ:EXFO) (TSE:EXF) will report $60.90 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for EXFO’s earnings, with the lowest sales estimate coming in at $60.80 million and the highest estimate coming in at $61.00 million. EXFO posted sales of $62.86 million in the same quarter last year, which indicates a negative year over year growth rate of 3.1%. The company is expected to announce its next quarterly earnings results on Wednesday, October 11th.
On average, analysts expect that EXFO will report full-year sales of $60.90 million for the current fiscal year, with estimates ranging from $241.10 million to $241.30 million. For the next fiscal year, analysts anticipate that the firm will report sales of $257.47 million per share, with estimates ranging from $252.60 million to $260.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover EXFO.
EXFO (NASDAQ:EXFO) (TSE:EXF) last issued its earnings results on Thursday, June 29th. The communications equipment provider reported ($0.03) EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.06. The company had revenue of $58.50 million during the quarter, compared to the consensus estimate of $61.61 million. EXFO had a return on equity of 2.76% and a net margin of 0.93%. The business’s quarterly revenue was down 3.8% on a year-over-year basis.
A number of equities research analysts have recently issued reports on EXFO shares. National Bank Financial started coverage on shares of EXFO in a research note on Thursday, April 20th. They issued a “sector perform” rating and a $5.50 price target on the stock. Zacks Investment Research raised shares of EXFO from a “sell” rating to a “hold” rating in a research note on Tuesday, May 30th. Canaccord Genuity reissued a “hold” rating and issued a $5.75 price target on shares of EXFO in a research note on Tuesday, May 2nd. Royal Bank Of Canada reduced their price target on shares of EXFO from $5.50 to $5.25 and set a “sector perform” rating on the stock in a research note on Friday, June 30th. Finally, TheStreet downgraded shares of EXFO from a “b” rating to a “c+” rating in a research note on Friday, July 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. EXFO currently has an average rating of “Hold” and an average target price of $5.63.
Several hedge funds and other institutional investors have recently made changes to their positions in EXFO. TD Asset Management Inc. acquired a new position in shares of EXFO during the first quarter worth $1,105,000. Renaissance Technologies LLC boosted its position in EXFO by 11.8% in the first quarter. Renaissance Technologies LLC now owns 1,537,890 shares of the communications equipment provider’s stock valued at $7,997,000 after buying an additional 162,510 shares during the period. Acadian Asset Management LLC boosted its position in EXFO by 1,114.1% in the first quarter. Acadian Asset Management LLC now owns 86,200 shares of the communications equipment provider’s stock valued at $451,000 after buying an additional 79,100 shares during the period. White Pine Capital LLC boosted its position in EXFO by 28.4% in the second quarter. White Pine Capital LLC now owns 177,125 shares of the communications equipment provider’s stock valued at $832,000 after buying an additional 39,175 shares during the period. Finally, Hillsdale Investment Management Inc. boosted its position in EXFO by 20.7% in the first quarter. Hillsdale Investment Management Inc. now owns 187,000 shares of the communications equipment provider’s stock valued at $980,000 after buying an additional 32,100 shares during the period. Hedge funds and other institutional investors own 16.65% of the company’s stock.
EXFO (EXFO) opened at 4.15 on Friday. The firm has a 50-day moving average of $4.43 and a 200-day moving average of $4.98. EXFO has a 52 week low of $3.14 and a 52 week high of $6.15. The company has a market capitalization of $227.02 million, a P/E ratio of 103.75 and a beta of 0.55.
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EXFO Inc is a Canada-based company, which provides communications service providers (CSPs) and data center, cloud and Web-scale operators with field test, service assurance and analytics solutions to ensure the deployment, maintenance and management of physical, virtual, fixed and mobile networks. It focuses on network infrastructures: fourth generation (4G)/long-term evolution (LTE), wireless backhaul, small cells and distributed antenna systems (DAS), 100G network upgrades and fiber-to-the-home (FTTH)/fiber-to-the-curb (FTTC)/fiber-to-the-node (FTTN) deployments.
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