Analysts Anticipate Finisar Co. (FNSR) Will Post Quarterly Sales of $327.87 Million
Wall Street brokerages forecast that Finisar Co. (NASDAQ:FNSR) will announce $327.87 million in sales for the current quarter, Zacks reports. Six analysts have made estimates for Finisar’s earnings, with estimates ranging from $325.00 million to $335.00 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 announce its next quarterly earnings report on Thursday, December 6th.
On average, analysts expect that Finisar will report full year sales of $1.34 billion for the current financial year, with estimates ranging from $1.31 billion to $1.39 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.53 billion per share, with estimates ranging from $1.46 billion to $1.58 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Finisar.
Finisar (NASDAQ:FNSR) last posted its earnings results on Thursday, September 6th. The technology company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 business had revenue of $317.30 million during the quarter, compared to the consensus estimate of $315.77 million. During the same period in the previous year, the business earned $0.40 EPS. The business’s quarterly revenue was down 7.2% on a year-over-year basis.
In other Finisar news, Director Jerry S. Rawls sold 30,208 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $16.99, for a total transaction of $513,233.92. Following the completion of the sale, the director now directly owns 553,466 shares of the company’s stock, valued at approximately $9,403,387.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jerry S. Rawls sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $18.14, for a total value of $725,600.00. Following the sale, the director now directly owns 523,258 shares of the company’s stock, valued at $9,491,900.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 127,033 shares of company stock valued at $2,299,466. 1.11% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Glen Harbor Capital Management LLC acquired a new position in Finisar during the 1st quarter worth approximately $122,000. Victory Capital Management Inc. increased its position in Finisar by 66.2% during the 1st quarter. Victory Capital Management Inc. now owns 7,763 shares of the technology company’s stock worth $123,000 after purchasing an additional 3,091 shares during the period. Tyers Asset Management LLC acquired a new position in Finisar during the 1st quarter worth approximately $167,000. Janus Henderson Group PLC acquired a new position in Finisar during the 2nd quarter worth approximately $185,000. Finally, Riverhead Capital Management LLC acquired a new position in Finisar during the 1st quarter worth approximately $190,000.
Shares of Finisar stock traded down $0.04 on Friday, hitting $19.69. The stock had a trading volume of 2,239,100 shares, compared to its average volume of 3,291,235. Finisar has a 52-week low of $14.25 and a 52-week 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. The company has a market capitalization of $2.36 billion, a P/E ratio of 61.38, a PEG ratio of 3.05 and a beta of 1.38.
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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