$334.62 Million in Sales Expected for Finisar Co. (FNSR) This Quarter
Wall Street analysts expect Finisar Co. (NASDAQ:FNSR) to post sales of $334.62 million for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Finisar’s earnings, with the lowest sales estimate coming in at $330.10 million and the highest estimate coming in at $338.26 million. Finisar reported sales of $380.59 million during the same quarter last year, which indicates a negative year over year growth rate of 12.1%. The firm is scheduled to announce its next earnings results after the market closes on Thursday, March 8th.
On average, analysts expect that Finisar will report full year sales of $334.62 million for the current year, with estimates ranging from $1.32 billion to $1.36 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $1.48 billion per share, with estimates ranging from $1.42 billion to $1.61 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Finisar.
Finisar (NASDAQ:FNSR) last announced its quarterly earnings results on Thursday, December 7th. The technology company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The company had revenue of $332.21 million during the quarter, compared to analysts’ expectations of $331.69 million. Finisar had a return on equity of 9.51% and a net margin of 14.33%.
In related news, Director Jerry S. Rawls sold 30,209 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $17.94, for a total value of $541,949.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kurt Adzema sold 20,025 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $22.15, for a total value of $443,553.75. The disclosure for this sale can be found here. Insiders sold a total of 62,578 shares of company stock valued at $1,273,865 over the last quarter. 1.02% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its position in shares of Finisar by 10.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,832,951 shares of the technology company’s stock valued at $107,146,000 after purchasing an additional 471,882 shares during the period. Alliancebernstein L.P. grew its position in shares of Finisar by 1,459.2% in the 4th quarter. Alliancebernstein L.P. now owns 3,152,517 shares of the technology company’s stock valued at $64,154,000 after purchasing an additional 2,950,327 shares during the period. DnB Asset Management AS grew its position in shares of Finisar by 22.9% in the 4th quarter. DnB Asset Management AS now owns 2,248,526 shares of the technology company’s stock valued at $45,758,000 after purchasing an additional 419,120 shares during the period. Snow Capital Management LP grew its position in shares of Finisar by 20.5% in the 4th quarter. Snow Capital Management LP now owns 2,163,902 shares of the technology company’s stock valued at $44,035,000 after purchasing an additional 368,382 shares during the period. Finally, Victory Capital Management Inc. grew its position in shares of Finisar by 33.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,500,821 shares of the technology company’s stock valued at $33,274,000 after purchasing an additional 379,473 shares during the period. Institutional investors and hedge funds own 91.42% of the company’s stock.
Shares of Finisar (FNSR) opened at $18.15 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 7.81 and a quick ratio of 6.31. The company has a market capitalization of $2,110.00, a PE ratio of 10.37, a PEG ratio of 1.92 and a beta of 1.02. Finisar has a 52 week low of $16.64 and a 52 week high of $35.25.
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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