Finisar Co. (FNSR) Expected to Post Quarterly Sales of $334.62 Million

Wall Street brokerages forecast that Finisar Co. (NASDAQ:FNSR) will post $334.62 million in sales for the current fiscal quarter, Zacks reports. Eight analysts have issued estimates for Finisar’s earnings. The lowest sales estimate is $330.10 million and the highest is $338.26 million. Finisar posted sales of $380.59 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 12.1%. The firm is scheduled to report its next quarterly earnings results on Thursday, March 8th.

According to Zacks, analysts expect that Finisar will report full-year sales of $334.62 million for the current year, with estimates ranging from $1.32 billion to $1.36 billion. For the next financial year, analysts forecast that the firm will post sales of $1.48 billion per share, with estimates ranging from $1.42 billion to $1.61 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Finisar.

Finisar (NASDAQ:FNSR) last released its earnings results on Thursday, December 7th. The technology company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $332.21 million during the quarter, compared to the consensus estimate of $331.69 million. Finisar had a net margin of 14.33% and a return on equity of 9.51%.

A number of analysts have weighed in on the stock. Craig Hallum set a $28.00 target price on shares of Finisar and gave the company a “buy” rating in a research report on Thursday, December 14th. Raymond James Financial set a $22.00 price objective on shares of Finisar and gave the stock a “buy” rating in a research report on Thursday, December 7th. ValuEngine downgraded shares of Finisar from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Loop Capital started coverage on shares of Finisar in a research report on Monday, January 29th. They set a “hold” rating and a $19.00 price objective for the company. Finally, DA Davidson reaffirmed a “buy” rating and set a $30.00 price objective on shares of Finisar in a research report on Wednesday, November 29th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Finisar currently has a consensus rating of “Hold” and an average target price of $27.27.

In related news, Director Roger C. Ferguson sold 3,000 shares of Finisar stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $21.68, for a total value of $65,040.00. Following the completion of the sale, the director now owns 41,034 shares of the company’s stock, valued at approximately $889,617.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP John H. Clark sold 6,186 shares of Finisar stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $24.90, for a total transaction of $154,031.40. Following the completion of the sale, the executive vice president now directly owns 146,053 shares of the company’s stock, valued at approximately $3,636,719.70. The disclosure for this sale can be found here. In the last three months, insiders sold 62,578 shares of company stock valued at $1,273,865. 1.02% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ladenburg Thalmann Financial Services Inc. grew its position in Finisar by 103.4% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,728 shares of the technology company’s stock valued at $127,000 after purchasing an additional 2,912 shares during the period. PNC Financial Services Group Inc. grew its position in Finisar by 43.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,912 shares of the technology company’s stock valued at $153,000 after purchasing an additional 1,805 shares during the period. Cubist Systematic Strategies LLC grew its position in Finisar by 598.3% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 7,004 shares of the technology company’s stock valued at $155,000 after purchasing an additional 6,001 shares during the period. First Mercantile Trust Co. acquired a new stake in Finisar in the 4th quarter valued at $158,000. Finally, Advisory Services Network LLC lifted its stake in Finisar by 20.6% during the 2nd quarter. Advisory Services Network LLC now owns 8,500 shares of the technology company’s stock valued at $221,000 after acquiring an additional 1,450 shares in the last quarter. 88.49% of the stock is owned by institutional investors and hedge funds.

Shares of Finisar (FNSR) opened at $17.64 on Wednesday. The firm has a market cap of $2,010.00, a P/E ratio of 10.08, a price-to-earnings-growth ratio of 1.91 and a beta of 1.07. The company has a current ratio of 7.81, a quick ratio of 6.31 and a debt-to-equity ratio of 0.44. Finisar has a 52-week low of $16.64 and a 52-week high of $36.41.

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About Finisar

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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Earnings History and Estimates for Finisar (NASDAQ:FNSR)

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