Brokerages expect Finisar Co. (NASDAQ:FNSR) to report $334.62 million in sales for the current quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Finisar’s earnings, with estimates ranging from $330.10 million to $338.26 million. Finisar posted sales of $380.59 million during the same quarter last year, which would indicate a negative year over year growth rate of 12.1%. The company is scheduled to issue its next quarterly earnings report on Thursday, March 8th.
On average, analysts expect that Finisar will report full-year sales of $334.62 million for the current fiscal year, with estimates ranging from $1.32 billion to $1.36 billion. For the next year, analysts expect that the firm will post sales of $1.48 billion per share, with estimates ranging from $1.42 billion to $1.61 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Finisar.
Finisar (NASDAQ:FNSR) last announced its quarterly earnings results on Thursday, December 7th. The technology company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. Finisar had a return on equity of 9.51% and a net margin of 14.33%. The company had revenue of $332.21 million during the quarter, compared to analysts’ expectations of $331.69 million.
Several research firms recently weighed in on FNSR. Craig Hallum set a $28.00 price objective on Finisar and gave the stock a “buy” rating in a research report on Thursday, December 14th. Raymond James Financial set a $22.00 price objective on Finisar and gave the stock a “buy” rating in a research report on Thursday, December 7th. ValuEngine cut Finisar from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Loop Capital began coverage on 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 reissued a “buy” rating and set a $30.00 price objective on shares of Finisar in a research report on Wednesday, November 29th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $27.27.
In related news, CFO Kurt Adzema sold 20,025 shares of the business’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $22.15, for a total transaction of $443,553.75. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP John H. Clark sold 6,186 shares of the business’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $24.90, for a total value of $154,031.40. Following the transaction, the executive vice president now owns 146,053 shares in the company, valued at $3,636,719.70. The disclosure for this sale can be found here. Insiders have sold 62,578 shares of company stock worth $1,273,865 over the last 90 days. Corporate insiders own 1.02% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its stake in Finisar by 10.8% during the third quarter. Dimensional Fund Advisors LP now owns 4,832,951 shares of the technology company’s stock valued at $107,146,000 after acquiring an additional 471,882 shares during the period. Alliancebernstein L.P. grew its position in Finisar by 1,459.2% in the 4th quarter. Alliancebernstein L.P. now owns 3,152,517 shares of the technology company’s stock worth $64,154,000 after purchasing an additional 2,950,327 shares in the last quarter. DnB Asset Management AS grew its position in Finisar by 22.9% in the 4th quarter. DnB Asset Management AS now owns 2,248,526 shares of the technology company’s stock worth $45,758,000 after purchasing an additional 419,120 shares in the last quarter. State Street Corp grew its position in Finisar by 5.9% in the 2nd quarter. State Street Corp now owns 2,199,440 shares of the technology company’s stock worth $57,141,000 after purchasing an additional 121,724 shares in the last quarter. Finally, Snow Capital Management LP grew its position in Finisar by 20.5% in the 4th quarter. Snow Capital Management LP now owns 2,163,902 shares of the technology company’s stock worth $44,035,000 after purchasing an additional 368,382 shares in the last quarter. Hedge funds and other institutional investors own 91.42% of the company’s stock.
Shares of Finisar (FNSR) traded down $0.30 during trading hours on Wednesday, hitting $17.90. The company’s stock had a trading volume of 1,793,824 shares, compared to its average volume of 2,990,000. Finisar has a 12 month low of $16.64 and a 12 month high of $35.56. The firm has a market capitalization of $2,040.00, a PE ratio of 10.23, a P/E/G ratio of 1.93 and a beta of 1.07. The company has a quick ratio of 6.31, a current ratio of 7.81 and a debt-to-equity ratio of 0.44.
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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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