Wall Street brokerages predict that Viavi Solutions Inc (NASDAQ:VIAV) will announce sales of $266.91 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Viavi Solutions’ earnings, with estimates ranging from $263.87 million to $269.77 million. Viavi Solutions reported sales of $195.20 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 36.7%. The business is expected to report its next quarterly earnings results on Wednesday, November 7th.
According to Zacks, analysts expect that Viavi Solutions will report full year sales of $1.08 billion for the current fiscal year, with estimates ranging from $1.07 billion to $1.10 billion. For the next fiscal year, analysts expect that the company will post sales of $1.13 billion per share, with estimates ranging from $1.12 billion to $1.13 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Viavi Solutions.
Viavi Solutions (NASDAQ:VIAV) last released its earnings results on Tuesday, August 14th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.03. Viavi Solutions had a positive return on equity of 11.57% and a negative net margin of 5.22%. The company had revenue of $264.00 million for the quarter, compared to analysts’ expectations of $255.10 million. During the same quarter in the previous year, the firm posted $0.12 EPS. The firm’s quarterly revenue was up 33.3% on a year-over-year basis.
Several equities analysts have issued reports on VIAV shares. Zacks Investment Research cut Viavi Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, May 22nd. William Blair reiterated a “buy” rating on shares of Viavi Solutions in a research report on Thursday, May 24th. Deutsche Bank started coverage on Viavi Solutions in a research report on Thursday, June 7th. They set a “hold” rating and a $10.50 target price on the stock. BidaskClub upgraded Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, June 28th. Finally, ValuEngine upgraded Viavi Solutions from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $11.29.
In related news, SVP Ralph Rondinone sold 4,949 shares of the company’s stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $11.43, for a total value of $56,567.07. Following the sale, the senior vice president now owns 24,695 shares in the company, valued at approximately $282,263.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.59% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in VIAV. Raymond James & Associates purchased a new stake in Viavi Solutions in the 2nd quarter valued at approximately $109,000. Koch Industries Inc. purchased a new stake in Viavi Solutions in the 1st quarter valued at approximately $104,000. Element Capital Management LLC purchased a new stake in Viavi Solutions in the 1st quarter valued at approximately $139,000. Dynamic Technology Lab Private Ltd purchased a new stake in Viavi Solutions in the 1st quarter valued at approximately $173,000. Finally, US Bancorp DE lifted its stake in Viavi Solutions by 49.5% in the 1st quarter. US Bancorp DE now owns 18,254 shares of the communications equipment provider’s stock valued at $177,000 after buying an additional 6,040 shares in the last quarter. Institutional investors and hedge funds own 91.02% of the company’s stock.
NASDAQ VIAV traded down $0.07 on Friday, hitting $11.19. 33,858 shares of the company’s stock were exchanged, compared to its average volume of 1,966,804. The company has a current ratio of 2.05, a quick ratio of 1.89 and a debt-to-equity ratio of 0.77. Viavi Solutions has a fifty-two week low of $8.34 and a fifty-two week high of $11.55. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 33.03 and a beta of 0.94.
Viavi Solutions Company Profile
Viavi Solutions Inc provides network test, monitoring, and assurance solutions to communications service providers, enterprises, network equipment manufacturers, civil government, military, and avionics customers worldwide. The company operates through Network Enablement, Service Enablement, and Optical Security and Performance Products segments.
Read More: Average Daily Trade Volume – What It Means In Stock Trading
Get a free copy of the Zacks research report on Viavi Solutions (VIAV)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Viavi Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viavi Solutions and related companies with MarketBeat.com's FREE daily email newsletter.