Zacks: Analysts Expect Oclaro Inc (OCLR) Will Post Earnings of $0.08 Per Share

Brokerages expect Oclaro Inc (NASDAQ:OCLR) to report $0.08 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Oclaro’s earnings, with estimates ranging from $0.07 to $0.10. Oclaro reported earnings per share of $0.23 during the same quarter last year, which would suggest a negative year over year growth rate of 65.2%. The firm is scheduled to announce its next earnings report on Tuesday, May 1st.

According to Zacks, analysts expect that Oclaro will report full year earnings of $0.51 per share for the current year, with EPS estimates ranging from $0.48 to $0.54. For the next year, analysts expect that the firm will post earnings of $0.50 per share, with EPS estimates ranging from $0.45 to $0.54. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Oclaro.

Oclaro (NASDAQ:OCLR) last issued its quarterly earnings data on Monday, February 5th. The semiconductor company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. Oclaro had a net margin of 23.00% and a return on equity of 23.17%. The firm had revenue of $139.30 million for the quarter, compared to analyst estimates of $138.83 million. During the same period in the prior year, the business posted $0.21 EPS. The business’s revenue for the quarter was down 9.5% compared to the same quarter last year.

OCLR has been the topic of several recent analyst reports. Northland Securities restated a “buy” rating and issued a $12.75 price objective on shares of Oclaro in a report on Wednesday, November 1st. Jefferies Group reaffirmed a “buy” rating and set a $12.50 target price on shares of Oclaro in a research note on Wednesday, November 1st. DA Davidson reaffirmed a “buy” rating and set a $11.00 target price on shares of Oclaro in a research note on Thursday, November 2nd. Needham & Company LLC downgraded shares of Oclaro from a “strong-buy” rating to a “buy” rating and cut their target price for the stock from $14.00 to $9.00 in a research note on Thursday, November 2nd. Finally, Craig Hallum downgraded shares of Oclaro from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Oclaro currently has a consensus rating of “Buy” and an average price target of $10.18.

Shares of Oclaro (NASDAQ:OCLR) traded up $0.19 during mid-day trading on Wednesday, hitting $6.60. 2,159,800 shares of the stock traded hands, compared to its average volume of 5,375,477. Oclaro has a 52-week low of $5.61 and a 52-week high of $11.30. The firm has a market cap of $1,110.00, a price-to-earnings ratio of 8.05, a P/E/G ratio of 1.12 and a beta of 1.14.

In other Oclaro news, EVP David Teichmann sold 24,962 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $6.41, for a total value of $160,006.42. Following the sale, the executive vice president now directly owns 349,305 shares of the company’s stock, valued at approximately $2,239,045.05. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Lisa Paul sold 5,000 shares of the stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $7.45, for a total transaction of $37,250.00. Following the completion of the sale, the executive vice president now directly owns 232,950 shares in the company, valued at $1,735,477.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,217 shares of company stock worth $480,678. Insiders own 2.00% of the company’s stock.

Several large investors have recently made changes to their positions in OCLR. Nationwide Fund Advisors increased its position in shares of Oclaro by 20.1% in the 2nd quarter. Nationwide Fund Advisors now owns 140,928 shares of the semiconductor company’s stock valued at $1,316,000 after purchasing an additional 23,611 shares during the last quarter. New York State Common Retirement Fund grew its position in shares of Oclaro by 18.3% in the 2nd quarter. New York State Common Retirement Fund now owns 177,100 shares of the semiconductor company’s stock valued at $1,654,000 after buying an additional 27,409 shares during the last quarter. UBS Asset Management Americas Inc. grew its position in shares of Oclaro by 42.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 81,395 shares of the semiconductor company’s stock valued at $760,000 after buying an additional 24,326 shares during the last quarter. Northern Trust Corp grew its position in shares of Oclaro by 39.5% in the 2nd quarter. Northern Trust Corp now owns 1,962,847 shares of the semiconductor company’s stock valued at $18,334,000 after buying an additional 555,798 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Oclaro by 17.9% in the 2nd quarter. Vanguard Group Inc. now owns 8,326,122 shares of the semiconductor company’s stock valued at $77,766,000 after buying an additional 1,265,269 shares during the last quarter. 70.76% of the stock is currently owned by institutional investors.

WARNING: This piece was first published by American Banking News and is the property of of American Banking News. If you are viewing this piece on another site, it was stolen and republished in violation of U.S. & international copyright & trademark legislation. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2018/02/14/zacks-analysts-expect-oclaro-inc-oclr-will-post-earnings-of-0-08-per-share.html.

Oclaro Company Profile

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.

Get a free copy of the Zacks research report on Oclaro (OCLR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Oclaro (NASDAQ:OCLR)

Receive News & Ratings for Oclaro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oclaro and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply