Zacks: Analysts Expect Finisar Co. (FNSR) to Announce $0.26 Earnings Per Share

Wall Street brokerages forecast that Finisar Co. (NASDAQ:FNSR) will post earnings of $0.26 per share for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Finisar’s earnings, with estimates ranging from $0.23 to $0.30. Finisar posted earnings per share of $0.20 in the same quarter last year, which would suggest a positive year over year growth rate of 30%. The firm is scheduled to issue its next earnings results on Thursday, March 14th.

According to Zacks, analysts expect that Finisar will report full-year earnings of $0.91 per share for the current fiscal year, with EPS estimates ranging from $0.84 to $1.02. For the next year, analysts anticipate that the business will post earnings of $1.51 per share, with EPS estimates ranging from $1.34 to $1.75. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that that provide coverage for Finisar.

Finisar (NASDAQ:FNSR) last posted its quarterly earnings results on Monday, December 3rd. The technology company reported $0.26 EPS for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.16. The business had revenue of $325.42 million during the quarter, compared to the consensus estimate of $327.84 million. Finisar had a positive return on equity of 1.24% and a negative net margin of 6.71%.

A number of research firms recently commented on FNSR. Morgan Stanley set a $25.00 price target on Finisar and gave the stock a “hold” rating in a research note on Tuesday. ValuEngine upgraded Finisar from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 15th. Zacks Investment Research reiterated a “buy” rating and issued a $18.00 price target on shares of Finisar in a research note on Tuesday, November 13th. BidaskClub upgraded Finisar from a “hold” rating to a “buy” rating in a research note on Tuesday, November 13th. Finally, Craig Hallum cut shares of Finisar from a “buy” rating to a “hold” rating and set a $24.00 target price on the stock. in a report on Monday, November 12th. Ten equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $25.34.

NASDAQ:FNSR traded down $0.58 during mid-day trading on Tuesday, reaching $22.86. The stock had a trading volume of 2,046,566 shares, compared to its average volume of 3,203,917. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 71.44, a price-to-earnings-growth ratio of 4.17 and a beta of 1.54. Finisar has a 1-year low of $14.25 and a 1-year high of $25.41. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.98 and a current ratio of 3.65.

In other news, Director Jerry S. Rawls sold 30,208 shares of Finisar stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $16.77, for a total transaction of $506,588.16. Following the sale, the director now owns 486,379 shares of the company’s stock, valued at $8,156,575.83. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jerry S. Rawls sold 40,000 shares of Finisar stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $18.80, for a total value of $752,000.00. Following the sale, the director now directly owns 456,171 shares in the company, valued at approximately $8,576,014.80. The disclosure for this sale can be found here. Insiders sold 73,208 shares of company stock worth $1,313,908 in the last three months. 1.11% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC bought a new stake in shares of Finisar during the third quarter valued at approximately $210,000. Janus Henderson Group PLC bought a new stake in shares of Finisar during the second quarter valued at approximately $185,000. First Mercantile Trust Co. raised its holdings in shares of Finisar by 42.7% during the third quarter. First Mercantile Trust Co. now owns 12,070 shares of the technology company’s stock valued at $230,000 after buying an additional 3,610 shares during the last quarter. Strategic Wealth Advisors Group LLC bought a new stake in shares of Finisar during the third quarter valued at approximately $277,000. Finally, Riverhead Capital Management LLC raised its holdings in shares of Finisar by 44.2% during the third quarter. Riverhead Capital Management LLC now owns 17,300 shares of the technology company’s stock valued at $330,000 after buying an additional 5,300 shares during the last quarter. 99.40% of the stock is currently owned by institutional investors.

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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