Q1 2019 EPS Estimates for Viavi Solutions Inc. (VIAV) Lifted by Jefferies Group
Viavi Solutions Inc. (NASDAQ:VIAV) – Jefferies Group increased their Q1 2019 earnings per share (EPS) estimates for Viavi Solutions in a research report issued on Tuesday. Jefferies Group analyst J. Kisner now anticipates that the communications equipment provider will post earnings of $0.11 per share for the quarter, up from their previous forecast of $0.10. Jefferies Group also issued estimates for Viavi Solutions’ Q2 2019 earnings at $0.14 EPS, Q3 2019 earnings at $0.12 EPS and FY2019 earnings at $0.31 EPS.
Other analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Viavi Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, August 19th. BidaskClub lowered shares of Viavi Solutions from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. TheStreet downgraded shares of Viavi Solutions from a “b” rating to a “c+” rating in a report on Tuesday, August 1st. Stifel Nicolaus reaffirmed a “hold” rating and issued a $11.00 price objective on shares of Viavi Solutions in a report on Thursday, August 3rd. Finally, MKM Partners upped their price objective on shares of Viavi Solutions from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, August 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. Viavi Solutions currently has a consensus rating of “Buy” and an average target price of $12.34.
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Viavi Solutions (NASDAQ VIAV) traded down 1.51% on Friday, hitting $9.78. 2,645,804 shares of the company were exchanged. The firm has a 50 day moving average of $10.42 and a 200-day moving average of $10.62. Viavi Solutions has a 52-week low of $6.99 and a 52-week high of $11.89. The stock has a market cap of $2.23 billion, a PE ratio of 13.83 and a beta of 1.35.
Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings data on Tuesday, August 15th. The communications equipment provider reported $0.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.03. Viavi Solutions had a net margin of 20.57% and a return on equity of 8.46%. The company had revenue of $198.10 million for the quarter, compared to the consensus estimate of $196.22 million. During the same period in the prior year, the firm posted $0.10 EPS. The company’s quarterly revenue was down 11.6% compared to the same quarter last year.
In other news, EVP Paul Mcnab sold 8,915 shares of Viavi Solutions stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $10.04, for a total transaction of $89,506.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Kevin Christopher Siebert sold 4,591 shares of Viavi Solutions stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $10.11, for a total value of $46,415.01. Following the transaction, the vice president now owns 6,600 shares in the company, valued at approximately $66,726. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,797 shares of company stock valued at $249,912. 0.35% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can increased its position in shares of Viavi Solutions by 6.6% during the 1st quarter. Bank of Montreal Can now owns 24,368 shares of the communications equipment provider’s stock worth $261,000 after purchasing an additional 1,500 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Viavi Solutions by 29.8% during the 1st quarter. Wells Fargo & Company MN now owns 499,643 shares of the communications equipment provider’s stock worth $5,356,000 after acquiring an additional 114,731 shares during the last quarter. Great West Life Assurance Co. Can increased its holdings in shares of Viavi Solutions by 6.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 319,551 shares of the communications equipment provider’s stock worth $3,422,000 after acquiring an additional 19,315 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of Viavi Solutions during the 1st quarter worth approximately $1,106,000. Finally, Comerica Bank increased its holdings in shares of Viavi Solutions by 4.3% during the 1st quarter. Comerica Bank now owns 255,467 shares of the communications equipment provider’s stock worth $2,557,000 after acquiring an additional 10,544 shares during the last quarter. 92.53% of the stock is currently owned by institutional investors and hedge funds.
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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