Equities research analysts predict that Finisar Co. (NASDAQ:FNSR) will announce sales of $334.62 million for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Finisar’s earnings. The lowest sales estimate is $330.10 million and the highest is $338.26 million. Finisar posted sales of $380.59 million during the same quarter last year, which suggests a negative year-over-year growth rate of 12.1%. The company is scheduled to report 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 financial year, analysts forecast that the business will post sales of $1.48 billion per share, with estimates ranging from $1.42 billion to $1.61 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Finisar.
Finisar (NASDAQ:FNSR) last announced its quarterly earnings data 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. The company had revenue of $332.21 million during the quarter, compared to analyst estimates of $331.69 million. Finisar had a net margin of 14.33% and a return on equity of 9.51%.
In related news, CFO Kurt Adzema sold 20,025 shares of Finisar stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $22.15, for a total value of $443,553.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Julie Sheridan Eng sold 1,466 shares of Finisar stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $21.70, for a total transaction of $31,812.20. Following the completion of the sale, the executive vice president now owns 69,150 shares in the company, valued at $1,500,555. The disclosure for this sale can be found here. Over the last quarter, insiders sold 62,578 shares of company stock worth $1,273,865. 1.02% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of FNSR. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Finisar by 103.4% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,728 shares of the technology company’s stock worth $127,000 after buying an additional 2,912 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Finisar by 43.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,912 shares of the technology company’s stock worth $153,000 after buying an additional 1,805 shares in the last quarter. Cheyne Capital Management UK LLP bought a new stake in shares of Finisar during the 3rd quarter worth about $155,000. Cubist Systematic Strategies LLC raised its position in shares of Finisar by 598.3% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 7,004 shares of the technology company’s stock worth $155,000 after buying an additional 6,001 shares in the last quarter. Finally, First Mercantile Trust Co. bought a new stake in shares of Finisar during the 4th quarter worth about $158,000. Hedge funds and other institutional investors own 88.49% of the company’s stock.
Shares of Finisar (NASDAQ:FNSR) traded down $0.30 during mid-day trading on Wednesday, reaching $17.90. 1,800,000 shares of the company’s stock traded hands, compared to its average volume of 3,040,000. The firm has a market cap of $2,010.00, a price-to-earnings ratio of 10.23, a P/E/G ratio of 1.97 and a beta of 1.07. The company has a debt-to-equity ratio of 0.44, a quick ratio of 6.31 and a current ratio of 7.81. Finisar has a 52 week low of $16.64 and a 52 week high of $35.75.
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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