Viavi Solutions (NASDAQ:VIAV) Posts Earnings Results, Misses Expectations By $0.01 EPS

Viavi Solutions (NASDAQ:VIAV) posted its quarterly earnings data on Thursday. The communications equipment provider reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01), Briefing.com reports. The business had revenue of $246.00 million during the quarter, compared to analyst estimates of $249.08 million. Viavi Solutions had a positive return on equity of 4.66% and a negative net margin of 0.42%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.02 EPS. Viavi Solutions updated its Q4 guidance to $0.06-$0.08 EPS.

Viavi Solutions Stock Performance

NASDAQ VIAV opened at $7.56 on Friday. The stock has a 50-day simple moving average of $9.11 and a two-hundred day simple moving average of $9.04. The firm has a market capitalization of $1.68 billion, a P/E ratio of -378.00 and a beta of 0.97. Viavi Solutions has a fifty-two week low of $7.10 and a fifty-two week high of $11.65. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.72 and a current ratio of 3.09.

Analyst Ratings Changes

VIAV has been the subject of a number of recent analyst reports. Stifel Nicolaus reissued a “buy” rating and issued a $13.00 price objective on shares of Viavi Solutions in a research report on Monday, April 1st. Northland Securities lifted their price target on Viavi Solutions from $12.00 to $17.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a research report on Friday. Morgan Stanley lifted their price target on Viavi Solutions from $9.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 6th. Finally, Rosenblatt Securities lowered their price target on Viavi Solutions from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Friday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Viavi Solutions has a consensus rating of “Moderate Buy” and an average price target of $12.00.

Insider Buying and Selling at Viavi Solutions

In related news, SVP Kevin Christopher Siebert sold 13,967 shares of Viavi Solutions stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $10.70, for a total value of $149,446.90. Following the completion of the transaction, the senior vice president now owns 47,097 shares in the company, valued at approximately $503,937.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Kevin Christopher Siebert sold 13,967 shares of Viavi Solutions stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $10.70, for a total value of $149,446.90. Following the completion of the transaction, the senior vice president now owns 47,097 shares in the company, valued at approximately $503,937.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Paul Mcnab sold 15,004 shares of Viavi Solutions stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $10.62, for a total value of $159,342.48. Following the completion of the transaction, the executive vice president now owns 57,940 shares of the company’s stock, valued at approximately $615,322.80. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

About Viavi Solutions

Viavi Solutions Inc provides network test, monitoring, and assurance solutions for communications service providers, hyperscalers, network equipment manufacturers, original equipment manufacturers, government, and avionics customers in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa.