Finisar Corporation (FNSR) Expected to Post Earnings of $0.31 Per Share
Brokerages expect Finisar Corporation (NASDAQ:FNSR) to announce earnings of $0.31 per share for the current quarter, according to Zacks. Six analysts have provided estimates for Finisar Corporation’s earnings, with the lowest EPS estimate coming in at $0.29 and the highest estimate coming in at $0.32. Finisar Corporation reported earnings of $0.58 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 46.6%. The company is scheduled to announce its next quarterly earnings results on Thursday, December 14th.
According to Zacks, analysts expect that Finisar Corporation will report full year earnings of $1.48 per share for the current year, with EPS estimates ranging from $1.39 to $1.68. For the next fiscal year, analysts expect that the firm will post earnings of $1.83 per share, with EPS estimates ranging from $1.73 to $2.02. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Finisar Corporation.
Finisar Corporation (NASDAQ:FNSR) last issued its quarterly earnings results on Thursday, September 7th. The technology company reported $0.40 EPS for the quarter, hitting the consensus estimate of $0.40. Finisar Corporation had a net margin of 16.92% and a return on equity of 13.11%. The business had revenue of $341.80 million for the quarter, compared to analysts’ expectations of $341.22 million. During the same quarter last year, the company posted $0.38 earnings per share. The company’s quarterly revenue was up .1% compared to the same quarter last year.
Several research analysts have recently issued reports on FNSR shares. DA Davidson restated a “buy” rating and set a $40.00 price objective on shares of Finisar Corporation in a report on Thursday, September 7th. ValuEngine downgraded shares of Finisar Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Piper Jaffray Companies restated a “buy” rating and set a $30.00 price objective (down previously from $32.00) on shares of Finisar Corporation in a report on Tuesday, September 5th. Northland Securities restated a “buy” rating and set a $40.00 price objective on shares of Finisar Corporation in a report on Friday, July 28th. Finally, Jefferies Group LLC restated a “buy” rating and set a $28.50 price objective (down previously from $34.00) on shares of Finisar Corporation in a report on Friday, September 8th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company’s stock. Finisar Corporation presently has an average rating of “Buy” and a consensus target price of $32.60.
Finisar Corporation (NASDAQ FNSR) opened at 21.81 on Friday. The company has a market cap of $2.48 billion, a PE ratio of 10.26 and a beta of 1.31. Finisar Corporation has a 12 month low of $20.16 and a 12 month high of $36.85. The stock’s 50 day moving average is $22.05 and its 200 day moving average is $24.32.
In other Finisar Corporation news, Chairman Jerry S. Rawls sold 25,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $27.58, for a total value of $689,500.00. Following the transaction, the chairman now directly owns 815,188 shares in the company, valued at $22,482,885.04. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Roger C. Ferguson sold 2,726 shares of the business’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $21.46, for a total transaction of $58,499.96. Following the completion of the transaction, the director now owns 44,034 shares in the company, valued at $944,969.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,928 shares of company stock worth $898,957. 1.02% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in FNSR. Fortaleza Asset Management Inc. acquired a new position in Finisar Corporation in the second quarter valued at about $138,000. PNC Financial Services Group Inc. boosted its position in Finisar Corporation by 43.9% in the second quarter. PNC Financial Services Group Inc. now owns 5,912 shares of the technology company’s stock valued at $153,000 after buying an additional 1,805 shares in the last quarter. Koch Industries Inc. acquired a new position in Finisar Corporation in the second quarter valued at about $201,000. Quantitative Systematic Strategies LLC acquired a new position in Finisar Corporation in the second quarter valued at about $202,000. Finally, Thompson Davis & CO. Inc. acquired a new position in Finisar Corporation in the second quarter valued at about $217,000. Hedge funds and other institutional investors own 87.50% of the company’s stock.
About Finisar Corporation
Finisar Corporation (Finisar) is a provider of optical subsystems and components that are used in data communication and telecommunication applications. The Company’s optical subsystems consist of transmitters, receivers, transceivers, transponders and active optical cables, which provide the fundamental optical-electrical or optoelectronic interface for interconnecting the electronic equipment used in these networks, including the switches, routers, and servers used in wireline networks.
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