Viavi Solutions Inc. (VIAV) Posts Earnings Results, Beats Estimates By $0.06 EPS
Viavi Solutions Inc. (NASDAQ:VIAV) announced its quarterly earnings results on Wednesday. The communications equipment provider reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.06, Bloomberg Earnings reports. Viavi Solutions had a net margin of 20.57% and a return on equity of 8.46%. The firm had revenue of $195.20 million during the quarter, compared to the consensus estimate of $183.89 million. During the same quarter last year, the firm earned $0.09 EPS. The firm’s revenue for the quarter was down 7.4% compared to the same quarter last year. Viavi Solutions updated its Q2 guidance to $0.06-0.08 EPS.
A number of brokerages recently commented on VIAV. B. Riley reaffirmed a “buy” rating and issued a $14.00 price target on shares of Viavi Solutions in a report on Tuesday, August 15th. BidaskClub downgraded shares of Viavi Solutions from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. MKM Partners increased their price target on shares of Viavi Solutions from $11.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, August 16th. Zacks Investment Research downgraded shares of Viavi Solutions from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $11.00 price target on shares of Viavi Solutions in a report on Wednesday, August 16th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $12.78.
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In other Viavi Solutions news, SVP Luke M. Scrivanich sold 6,179 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $10.21, for a total value of $63,087.59. Following the transaction, the senior vice president now directly owns 18,938 shares in the company, valued at approximately $193,356.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard Belluzzo sold 10,000 shares of the business’s stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $9.54, for a total transaction of $95,400.00. The disclosure for this sale can be found here. Insiders sold a total of 100,151 shares of company stock worth $972,975 over the last quarter. 0.59% of the stock is currently owned by company insiders.
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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