Finisar Co. (FNSR) Expected to Post Quarterly Sales of $327.84 Million

Wall Street analysts expect Finisar Co. (NASDAQ:FNSR) to post $327.84 million in sales for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Finisar’s earnings, with the highest sales estimate coming in at $335.00 million and the lowest estimate coming in at $325.00 million. Finisar posted sales of $332.21 million in the same quarter last year, which suggests a negative year over year growth rate of 1.3%. The firm is scheduled to issue its next earnings report before the market opens on Monday, December 3rd.

According to Zacks, analysts expect that Finisar will report full-year sales of $1.33 billion for the current financial year, with estimates ranging from $1.30 billion to $1.35 billion. For the next year, analysts anticipate that the company will post sales of $1.51 billion, with estimates ranging from $1.41 billion to $1.55 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Finisar.

Finisar (NASDAQ:FNSR) last announced its quarterly earnings results on Thursday, September 6th. The technology company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.06. Finisar had a positive return on equity of 1.24% and a negative net margin of 6.71%. The company had revenue of $317.30 million during the quarter, compared to analysts’ expectations of $315.77 million. During the same quarter in the previous year, the firm earned $0.40 earnings per share. The business’s quarterly revenue was down 7.2% compared to the same quarter last year.

FNSR has been the subject of several research analyst reports. Needham & Company LLC cut their price objective on Finisar to $48.00 and set a “buy” rating for the company in a research report on Monday, November 12th. Zacks Investment Research upgraded Finisar from a “sell” rating to a “hold” rating in a research note on Monday, August 20th. Stifel Nicolaus initiated coverage on Finisar in a research note on Monday, October 22nd. They set a “hold” rating and a $21.00 price target on the stock. B. Riley lowered their price target on Finisar from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 4th. Finally, Morgan Stanley lowered Finisar from an “overweight” rating to an “equal weight” rating and set a $20.00 price target on the stock. in a research note on Thursday, September 13th. Ten research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $24.99.

In other news, Director Jerry S. Rawls sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $19.24, for a total value of $769,600.00. Following the sale, the director now directly owns 483,258 shares in the company, valued at approximately $9,297,883.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Roger C. Ferguson sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $18.44, for a total value of $55,320.00. Following the completion of the sale, the director now owns 32,920 shares in the company, valued at $607,044.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,208 shares of company stock worth $2,083,508. Corporate insiders own 1.11% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in Finisar by 4,319.7% during the 1st quarter. Principal Financial Group Inc. now owns 890,383 shares of the technology company’s stock worth $14,077,000 after acquiring an additional 870,237 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in Finisar by 11.0% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 1,770,000 shares of the technology company’s stock worth $31,860,000 after buying an additional 175,000 shares in the last quarter. TD Asset Management Inc. lifted its holdings in Finisar by 5.9% during the 2nd quarter. TD Asset Management Inc. now owns 122,896 shares of the technology company’s stock worth $2,212,000 after buying an additional 6,884 shares in the last quarter. TCW Group Inc. lifted its holdings in Finisar by 37.0% during the 2nd quarter. TCW Group Inc. now owns 26,311 shares of the technology company’s stock worth $473,000 after buying an additional 7,099 shares in the last quarter. Finally, First Trust Advisors LP acquired a new position in Finisar during the 2nd quarter worth $2,682,000.

Shares of NASDAQ:FNSR traded up $0.51 on Thursday, reaching $23.35. The company had a trading volume of 4,377,992 shares, compared to its average volume of 4,670,443. Finisar has a twelve month low of $14.25 and a twelve month high of $25.41. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.65 and a quick ratio of 2.98. The stock has a market capitalization of $2.74 billion, a P/E ratio of 72.97, a P/E/G ratio of 4.17 and a beta of 1.42.

Finisar Company Profile

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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