$0.23 EPS Expected for Finisar Co. (NASDAQ:FNSR) This Quarter

Wall Street analysts expect Finisar Co. (NASDAQ:FNSR) to report $0.23 earnings per share (EPS) for the current quarter, Zacks reports. Five analysts have made estimates for Finisar’s earnings, with estimates ranging from $0.18 to $0.27. Finisar reported earnings of $0.18 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 27.8%. The firm is expected to issue its next earnings results on Thursday, September 5th.

According to Zacks, analysts expect that Finisar will report full year earnings of $1.15 per share for the current financial year, with EPS estimates ranging from $1.06 to $1.35. For the next year, analysts forecast that the business will post earnings of $1.33 per share, with EPS estimates ranging from $1.16 to $1.50. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Finisar.

Finisar (NASDAQ:FNSR) last released its quarterly earnings results on Thursday, June 13th. The technology company reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.04. Finisar had a negative net margin of 4.16% and a positive return on equity of 4.22%. The company had revenue of $310.09 million for the quarter, compared to analysts’ expectations of $323.42 million.

Several equities research analysts have issued reports on FNSR shares. MKM Partners decreased their price target on shares of Finisar to $23.00 and set a “neutral” rating on the stock in a research note on Friday, June 14th. Stifel Nicolaus set a $23.00 price objective on shares of Finisar and gave the stock a “hold” rating in a report on Friday, June 14th. B. Riley reiterated a “neutral” rating on shares of Finisar in a report on Friday, June 14th. BidaskClub lowered shares of Finisar from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Zacks Investment Research lowered shares of Finisar from a “hold” rating to a “strong sell” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $25.40.

Shares of Finisar stock traded up $0.66 during mid-day trading on Tuesday, hitting $22.96. 2,457,458 shares of the stock were exchanged, compared to its average volume of 1,488,014. Finisar has a twelve month low of $15.81 and a twelve month high of $24.77. The company has a market cap of $2.65 billion, a PE ratio of 38.92, a price-to-earnings-growth ratio of 2.60 and a beta of 1.50. The stock has a 50-day moving average of $23.12. The company has a quick ratio of 5.72, a current ratio of 7.12 and a debt-to-equity ratio of 0.32.

Several hedge funds have recently made changes to their positions in FNSR. Dimensional Fund Advisors LP raised its position in Finisar by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,923,975 shares of the technology company’s stock valued at $214,358,000 after purchasing an additional 62,231 shares during the last quarter. Two Sigma Investments LP purchased a new stake in Finisar in the 4th quarter valued at $280,000. Legal & General Group Plc raised its position in Finisar by 11.8% in the 4th quarter. Legal & General Group Plc now owns 306,977 shares of the technology company’s stock valued at $6,617,000 after purchasing an additional 32,293 shares during the last quarter. Norges Bank purchased a new stake in Finisar in the 4th quarter valued at $25,944,000. Finally, State of Alaska Department of Revenue raised its position in Finisar by 1.3% in the 1st quarter. State of Alaska Department of Revenue now owns 39,738 shares of the technology company’s stock valued at $920,000 after purchasing an additional 500 shares during the last quarter. Institutional investors and hedge funds own 94.18% of the company’s stock.

About Finisar

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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Earnings History and Estimates for Finisar (NASDAQ:FNSR)

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