Zacks: Analysts Expect Oclaro, Inc. (OCLR) Will Post Earnings of $0.18 Per Share
Wall Street analysts expect that Oclaro, Inc. (NASDAQ:OCLR) will announce earnings per share (EPS) of $0.18 for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Oclaro’s earnings, with estimates ranging from $0.17 to $0.19. Oclaro reported earnings of $0.14 per share during the same quarter last year, which indicates a positive year over year growth rate of 28.6%. The business is scheduled to issue its next quarterly earnings results after the market closes on Wednesday, November 1st.
According to Zacks, analysts expect that Oclaro will report full year earnings of $0.74 per share for the current year, with EPS estimates ranging from $0.65 to $0.84. For the next year, analysts anticipate that the firm will post earnings of $0.79 per share, with EPS estimates ranging from $0.74 to $0.84. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Oclaro.
Oclaro (NASDAQ:OCLR) last announced its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. Oclaro had a net margin of 21.28% and a return on equity of 27.63%. The firm had revenue of $149.38 million during the quarter, compared to analysts’ expectations of $148.04 million. During the same period in the previous year, the company earned $0.11 earnings per share. Oclaro’s quarterly revenue was up 19.3% compared to the same quarter last year.
Several brokerages have weighed in on OCLR. B. Riley reissued a “buy” rating and set a $11.75 price objective on shares of Oclaro in a report on Tuesday, August 8th. ValuEngine downgraded shares of Oclaro from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 8th. Northland Securities restated a “buy” rating and issued a $12.75 price target on shares of Oclaro in a research report on Friday, September 15th. Jefferies Group LLC restated a “buy” rating and issued a $12.50 price target (up from $12.00) on shares of Oclaro in a research report on Thursday, August 3rd. Finally, MKM Partners restated a “buy” rating and issued a $12.00 price target (up from $10.50) on shares of Oclaro in a research report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $13.33.
Shares of Oclaro (OCLR) opened at 8.15 on Tuesday. Oclaro has a 12 month low of $6.91 and a 12 month high of $11.30. The stock has a market capitalization of $1.37 billion, a PE ratio of 10.58 and a beta of 1.61. The company has a 50-day moving average of $8.61 and a 200-day moving average of $8.95.
In related news, EVP Lisa Paul sold 12,182 shares of Oclaro stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $8.45, for a total value of $102,937.90. Following the sale, the executive vice president now directly owns 246,090 shares in the company, valued at approximately $2,079,460.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Greg Dougherty sold 40,000 shares of Oclaro stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $9.12, for a total transaction of $364,800.00. Following the completion of the sale, the chief executive officer now owns 1,441,386 shares in the company, valued at $13,145,440.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 85,183 shares of company stock worth $747,174. 2.00% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. Shelton Capital Management bought a new stake in Oclaro in the 2nd quarter valued at about $117,000. LS Investment Advisors LLC bought a new stake in Oclaro in the 2nd quarter valued at about $122,000. Ameritas Investment Partners Inc. lifted its position in Oclaro by 53.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 14,542 shares of the semiconductor company’s stock valued at $136,000 after purchasing an additional 5,057 shares during the last quarter. GLG Partners LP bought a new stake in Oclaro in the 2nd quarter valued at about $140,000. Finally, Envestnet Asset Management Inc. bought a new stake in Oclaro in the 1st quarter valued at about $160,000. Hedge funds and other institutional investors own 70.69% of the company’s stock.
Oclaro, Inc is a provider of optical components, modules and subsystems for the core optical transport, service provider, enterprise and data center markets. The Company provides various solutions for optical networks and interconnects driving the next wave of streaming video, cloud computing, application virtualization and other bandwidth-intensive and high-speed applications.
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