Q3 2018 Earnings Estimate for Finisar Corporation (FNSR) Issued By B. Riley
Finisar Corporation (NASDAQ:FNSR) – Stock analysts at B. Riley cut their Q3 2018 earnings per share estimates for Finisar in a report released on Wednesday. B. Riley analyst D. Kang now forecasts that the technology company will post earnings of $0.24 per share for the quarter, down from their prior estimate of $0.25. B. Riley currently has a “Neutral” rating and a $22.00 target price on the stock. B. Riley also issued estimates for Finisar’s FY2018 earnings at $0.95 EPS and FY2019 earnings at $1.19 EPS.
FNSR has been the topic of several other research reports. William Blair restated an “outperform” rating on shares of Finisar in a research report on Thursday, September 14th. Goldman Sachs Group restated a “buy” rating and issued a $32.00 target price (down previously from $37.00) on shares of Finisar in a research report on Friday, September 8th. MKM Partners restated a “buy” rating and issued a $31.00 target price (down previously from $33.00) on shares of Finisar in a research report on Monday, September 11th. DA Davidson restated a “buy” rating and issued a $30.00 target price on shares of Finisar in a research report on Wednesday. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $26.00 target price on shares of Finisar in a research report on Sunday, September 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and three have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $31.35.
Shares of Finisar (NASDAQ:FNSR) traded down $1.15 during mid-day trading on Thursday, reaching $19.53. The company’s stock had a trading volume of 3,477,600 shares, compared to its average volume of 3,372,684. The stock has a market capitalization of $2,355.20, a P/E ratio of 12.38, a P/E/G ratio of 1.43 and a beta of 1.19. The company has a quick ratio of 6.24, a current ratio of 7.66 and a debt-to-equity ratio of 0.44. Finisar has a 52 week low of $17.80 and a 52 week high of $36.85.
Finisar (NASDAQ:FNSR) last issued its quarterly earnings results on Thursday, September 7th. The technology company reported $0.40 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.40. The company had revenue of $341.80 million for the quarter, compared to the consensus estimate of $341.22 million. Finisar had a return on equity of 13.11% and a net margin of 16.92%. Finisar’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.38 earnings per share.
In related news, Chairman Jerry S. Rawls sold 20,000 shares of Finisar stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $22.89, for a total transaction of $457,800.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Roger C. Ferguson sold 2,726 shares of Finisar stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $21.46, for a total value of $58,499.96. Following the transaction, the director now owns 44,034 shares in the company, valued at approximately $944,969.64. The disclosure for this sale can be found here. Company insiders own 1.02% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio increased its stake in Finisar by 3.6% during the third quarter. Public Employees Retirement System of Ohio now owns 97,201 shares of the technology company’s stock worth $2,155,000 after acquiring an additional 3,341 shares during the last quarter. Argent Capital Management LLC acquired a new stake in Finisar during the third quarter worth $687,000. Janney Montgomery Scott LLC acquired a new stake in Finisar during the third quarter worth $217,000. Ladenburg Thalmann Financial Services Inc. increased its stake in Finisar by 103.4% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,728 shares of the technology company’s stock worth $127,000 after acquiring an additional 2,912 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its stake in Finisar by 598.3% during the third quarter. Cubist Systematic Strategies LLC now owns 7,004 shares of the technology company’s stock worth $155,000 after acquiring an additional 6,001 shares during the last quarter. 91.44% of the stock is owned by institutional investors.
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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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