Equities analysts expect Finisar Co. (NASDAQ:FNSR) to report earnings per share (EPS) of $0.24 for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Finisar’s earnings, with the lowest EPS estimate coming in at $0.22 and the highest estimate coming in at $0.29. Finisar reported earnings per share of $0.59 in the same quarter last year, which would indicate a negative year-over-year growth rate of 59.3%. The business is scheduled to announce its next quarterly earnings report on Thursday, March 8th.
According to Zacks, analysts expect that Finisar will report full year earnings of $1.08 per share for the current financial year, with EPS estimates ranging from $1.03 to $1.12. For the next fiscal year, analysts forecast that the company will post earnings of $1.39 per share, with EPS estimates ranging from $1.08 to $1.70. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow 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, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.03. Finisar had a net margin of 14.33% and a return on equity of 9.51%. The company had revenue of $332.21 million during the quarter, compared to the consensus estimate of $331.69 million.
A number of equities research analysts recently weighed in on FNSR shares. Piper Jaffray Companies boosted their price objective on shares of Finisar from $22.00 to $28.00 in a research report on Wednesday, December 13th. 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. William Blair reaffirmed a “buy” rating on shares of Finisar in a research report on Friday, December 8th. Raymond James Financial set a $22.00 price objective on shares of Finisar and gave the company a “buy” rating in a research report on Thursday, December 7th. Finally, Stifel Nicolaus lowered their price objective on shares of Finisar from $27.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, December 6th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Finisar has an average rating of “Hold” and an average price target of $27.27.
In other news, Director Jerry S. Rawls sold 30,209 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $17.94, for a total value of $541,949.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kurt Adzema sold 20,025 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $22.15, for a total transaction of $443,553.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,578 shares of company stock valued at $1,273,865. Company insiders own 1.02% of the company’s stock.
Several large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its stake in shares of Finisar by 10.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,832,951 shares of the technology company’s stock worth $107,146,000 after acquiring an additional 471,882 shares during the period. DnB Asset Management AS lifted its stake in Finisar by 22.9% during the fourth quarter. DnB Asset Management AS now owns 2,248,526 shares of the technology company’s stock valued at $45,758,000 after purchasing an additional 419,120 shares during the last quarter. State Street Corp lifted its stake in Finisar by 5.9% during the second quarter. State Street Corp now owns 2,199,440 shares of the technology company’s stock valued at $57,141,000 after purchasing an additional 121,724 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Finisar by 33.8% during the third quarter. Victory Capital Management Inc. now owns 1,500,821 shares of the technology company’s stock valued at $33,274,000 after purchasing an additional 379,473 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its stake in Finisar by 38.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 1,385,000 shares of the technology company’s stock valued at $30,705,000 after purchasing an additional 385,000 shares during the last quarter. 88.49% of the stock is owned by institutional investors.
Shares of Finisar (NASDAQ:FNSR) traded down $0.09 during trading hours on Monday, hitting $17.59. 1,485,866 shares of the company were exchanged, compared to its average volume of 3,200,365. 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 twelve month low of $16.64 and a twelve month high of $36.41. The company has a market cap of $2,010.00, a P/E ratio of 10.05, a PEG ratio of 1.91 and a beta of 1.07.
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Finisar Company Profile
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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