Equities analysts forecast that Finisar Co. (NASDAQ:FNSR) will announce $327.87 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Finisar’s earnings. The highest sales estimate is $335.00 million and the lowest is $325.00 million. Finisar posted sales of $332.21 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 1.3%. The business is scheduled to announce its next quarterly earnings report on Thursday, December 6th.
According to Zacks, analysts expect that Finisar will report full-year sales of $1.34 billion for the current fiscal year, with estimates ranging from $1.31 billion to $1.39 billion. For the next financial year, analysts anticipate that the company will post sales of $1.53 billion, with estimates ranging from $1.46 billion to $1.58 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Finisar.
Finisar (NASDAQ:FNSR) last released its earnings results on Thursday, September 6th. The technology company reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.06. Finisar had a positive return on equity of 1.24% and a negative net margin of 6.71%. The firm had revenue of $317.30 million for the quarter, compared to the consensus estimate of $315.77 million. During the same period in the prior year, the business posted $0.40 earnings per share. The firm’s revenue for the quarter was down 7.2% compared to the same quarter last year.
Several equities analysts recently weighed in on the company. ValuEngine downgraded Finisar from a “hold” rating to a “sell” rating in a research report on Thursday. BidaskClub downgraded Finisar from a “hold” rating to a “sell” rating in a research report on Friday. Zacks Investment Research downgraded Finisar from a “hold” rating to a “sell” rating in a report on Wednesday, June 20th. DA Davidson raised their price objective on Finisar to $26.00 and gave the stock a “buy” rating in a report on Friday, June 15th. Finally, Cascend Securities assumed coverage on Finisar in a report on Friday, July 13th. They issued a “buy” rating and a $25.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $24.28.
In other news, Director Roger C. Ferguson sold 3,000 shares of the firm’s stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $18.44, for a total value of $55,320.00. Following the transaction, the director now directly owns 32,920 shares in the company, valued at approximately $607,044.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jerry S. Rawls sold 40,000 shares of the stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $19.24, for a total value of $769,600.00. Following the completion of the sale, the director now owns 483,258 shares of the company’s stock, valued at approximately $9,297,883.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,208 shares of company stock worth $2,090,154. Company insiders own 1.11% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC acquired a new stake in shares of Finisar in the second quarter valued at about $185,000. Xact Kapitalforvaltning AB grew its stake in shares of Finisar by 27.9% in the first quarter. Xact Kapitalforvaltning AB now owns 16,511 shares of the technology company’s stock valued at $261,000 after buying an additional 3,600 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Finisar in the second quarter valued at about $348,000. Profund Advisors LLC acquired a new stake in shares of Finisar in the first quarter valued at about $349,000. Finally, Balter Liquid Alternatives LLC grew its stake in shares of Finisar by 68.8% in the second quarter. Balter Liquid Alternatives LLC now owns 22,243 shares of the technology company’s stock valued at $412,000 after buying an additional 9,062 shares in the last quarter.
NASDAQ FNSR opened at $16.74 on Friday. Finisar has a twelve month low of $14.25 and a twelve month high of $25.41. The stock has a market cap of $2.23 billion, a P/E ratio of 51.81, a price-to-earnings-growth ratio of 2.84 and a beta of 1.36. The company has a current ratio of 3.65, a quick ratio of 2.98 and a debt-to-equity ratio of 0.31.
Finisar Company Profile
Finisar Corporation provides components and subsystems to networking equipment manufacturers, data center operators, telecom service providers, consumer electronics, and automotive companies in the United States, China, Malaysia, and internationally. The company's optical subsystems primarily include transmitters, receivers, transceivers, transponders, and active optical cables, which provide the fundamental optical-electrical or optoelectronic interface for interconnecting the electronic equipment used in wireline networks comprising switches, routers, and servers, as well as wireless networks, such as antennas and base stations.
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