Zacks: Brokerages Expect Viavi Solutions Inc. (VIAV) to Announce $0.08 Earnings Per Share
Equities research analysts expect Viavi Solutions Inc. (NASDAQ:VIAV) to report earnings per share (EPS) of $0.08 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Viavi Solutions’ earnings. The highest EPS estimate is $0.10 and the lowest is $0.07. Viavi Solutions reported earnings of $0.09 per share during the same quarter last year, which would indicate a negative year over year growth rate of 11.1%. The company is scheduled to report its next earnings results on Tuesday, November 7th.
According to Zacks, analysts expect that Viavi Solutions will report full-year earnings of $0.41 per share for the current fiscal year, with EPS estimates ranging from $0.33 to $0.44. For the next year, analysts anticipate that the firm will post earnings of $0.54 per share, with EPS estimates ranging from $0.38 to $0.68. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Viavi Solutions.
Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings data on Tuesday, August 15th. The communications equipment provider reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.03. Viavi Solutions had a return on equity of 8.46% and a net margin of 20.57%. The company had revenue of $198.10 million during the quarter, compared to analysts’ expectations of $196.22 million. During the same period in the prior year, the firm earned $0.10 earnings per share. Viavi Solutions’s revenue for the quarter was down 11.6% compared to the same quarter last year.
A number of equities analysts have issued reports on the company. B. Riley reiterated a “buy” rating and set a $14.00 price target on shares of Viavi Solutions in a research note on Thursday, August 10th. Zacks Investment Research downgraded Viavi Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, August 19th. Stifel Nicolaus reiterated a “hold” rating and set a $11.00 price target on shares of Viavi Solutions in a research note on Thursday, August 3rd. MKM Partners lifted their price target on Viavi Solutions from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, August 16th. Finally, BidaskClub downgraded Viavi Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $12.34.
Shares of Viavi Solutions (NASDAQ:VIAV) traded down 0.70% on Friday, reaching $9.98. The company had a trading volume of 1,490,913 shares. The stock has a market cap of $2.27 billion, a PE ratio of 14.12 and a beta of 1.35. The stock has a 50-day moving average price of $10.56 and a 200-day moving average price of $10.63. Viavi Solutions has a 12 month low of $6.99 and a 12 month high of $11.89.
In other news, SVP Ralph Rondinone sold 4,569 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $9.83, for a total value of $44,913.27. Following the transaction, the senior vice president now owns 7,239 shares in the company, valued at approximately $71,159.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Paul Mcnab sold 8,915 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $10.04, for a total value of $89,506.60. The disclosure for this sale can be found here. Insiders sold a total of 27,019 shares of company stock worth $274,643 in the last 90 days. Company insiders own 0.35% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in VIAV. Essex Investment Management Co. LLC purchased a new position in Viavi Solutions in the second quarter valued at approximately $109,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Viavi Solutions by 10.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,635 shares of the communications equipment provider’s stock valued at $112,000 after purchasing an additional 1,003 shares during the last quarter. Creative Planning lifted its stake in Viavi Solutions by 177.9% in the second quarter. Creative Planning now owns 11,302 shares of the communications equipment provider’s stock valued at $119,000 after purchasing an additional 7,235 shares during the last quarter. BlueMountain Capital Management LLC purchased a new position in Viavi Solutions in the second quarter valued at approximately $123,000. Finally, Sciencast Management LP purchased a new position in Viavi Solutions in the second quarter valued at approximately $146,000. Hedge funds and other institutional investors own 92.53% of the company’s stock.
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About Viavi Solutions
Viavi Solutions Inc (Viavi) is a provider of network test, monitoring and assurance solutions to communications service providers, enterprises and their ecosystems. The Company also offers thin film optical coatings, providing light management solutions to anti-counterfeiting, consumer and industrial, government and healthcare and other markets.
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