Finisar (FNSR) Releases Q3 Earnings Guidance
Finisar (NASDAQ:FNSR) updated its third quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.21-0.27 for the period, compared to the Thomson Reuters consensus estimate of $0.33. The company issued revenue guidance of $325-345 million, compared to the consensus revenue estimate of $344.06 million.
Several research firms have recently weighed in on FNSR. Needham & Company LLC reissued a strong-buy rating and set a $34.00 target price (down previously from $44.00) on shares of Finisar in a research report on Friday, September 8th. Zacks Investment Research raised Finisar from a strong sell rating to a hold rating in a research report on Friday, December 1st. William Blair reissued an ourperform rating on shares of Finisar in a research report on Thursday, September 7th. Northland Securities set a $40.00 price objective on Finisar and gave the company a buy rating in a report on Tuesday, August 29th. Finally, Stifel Nicolaus restated a buy rating and set a $30.00 price objective (down previously from $33.00) on shares of Finisar in a report on Tuesday, September 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $30.28.
Finisar (FNSR) traded down $0.35 on Thursday, reaching $17.48. The company had a trading volume of 4,520,200 shares, compared to its average volume of 3,388,823. Finisar has a one year low of $17.20 and a one year high of $36.85. The company has a current ratio of 7.66, a quick ratio of 6.24 and a debt-to-equity ratio of 0.44. The stock has a market cap of $2,030.62, a PE ratio of 10.68, a P/E/G ratio of 1.25 and a beta of 1.14.
In other Finisar news, Director Roger C. Ferguson sold 2,726 shares of the company’s stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $21.46, for a total value of $58,499.96. Following the completion of the sale, the director now directly owns 44,034 shares in the company, valued at approximately $944,969.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Jerry S. Rawls sold 20,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $22.89, for a total value of $457,800.00. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by corporate insiders.
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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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