Finisar Co. (FNSR) Expected to Post Earnings of $0.21 Per Share

Equities research analysts expect Finisar Co. (NASDAQ:FNSR) to announce earnings of $0.21 per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Finisar’s earnings, with estimates ranging from $0.19 to $0.22. Finisar posted earnings per share of $0.23 in the same quarter last year, which suggests a negative year over year growth rate of 8.7%. The company is scheduled to announce its next quarterly earnings report on Thursday, December 6th.

On average, analysts expect that Finisar will report full year earnings of $0.93 per share for the current year, with EPS estimates ranging from $0.87 to $1.02. For the next year, analysts anticipate that the company will post earnings of $1.53 per share, with EPS estimates ranging from $1.43 to $1.75. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Finisar.

Finisar (NASDAQ:FNSR) last announced its quarterly earnings data 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. The business had revenue of $317.30 million for the quarter, compared to analyst estimates of $315.77 million. Finisar had a negative net margin of 6.71% and a positive return on equity of 1.24%. Finisar’s revenue was down 7.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.40 earnings per share.

Several equities research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Finisar from a “hold” rating to a “sell” rating in a report on Wednesday, June 20th. BidaskClub upgraded shares of Finisar from a “sell” rating to a “hold” rating in a report on Saturday, June 16th. Barclays reiterated a “hold” rating and issued a $24.00 target price on shares of Finisar in a report on Sunday. Loop Capital cut their target price on shares of Finisar to $20.00 and set a “hold” rating on the stock in a report on Friday, September 7th. Finally, Cascend Securities assumed coverage on shares of Finisar in a report on Friday, July 13th. They issued a “buy” rating and a $25.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. Finisar currently has a consensus rating of “Buy” and a consensus target price of $24.35.

FNSR traded down $0.04 during mid-day trading 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. 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 firm has a market cap of $2.36 billion, a PE ratio of 61.38, a price-to-earnings-growth ratio of 3.05 and a beta of 1.38. Finisar has a 1-year low of $14.25 and a 1-year high of $25.41.

In other news, Director Jerry S. Rawls sold 40,000 shares of the stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $18.14, for a total transaction of $725,600.00. Following the completion of the sale, the director now owns 523,258 shares of the company’s stock, valued at $9,491,900.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Roger C. Ferguson sold 3,000 shares of the stock in a transaction on Friday, June 22nd. The stock was sold at an average price of $17.77, for a total transaction of $53,310.00. Following the sale, the director now directly owns 25,784 shares of the company’s stock, valued at approximately $458,181.68. The disclosure for this sale can be found here. Insiders have sold 127,033 shares of company stock valued at $2,299,466 in the last three months. 1.11% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of FNSR. Bank of New York Mellon Corp increased its position in shares of Finisar by 102.3% during the second quarter. Bank of New York Mellon Corp now owns 4,936,130 shares of the technology company’s stock worth $88,850,000 after acquiring an additional 2,496,574 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Finisar by 37.3% during the first quarter. Dimensional Fund Advisors LP now owns 7,586,686 shares of the technology company’s stock worth $119,946,000 after acquiring an additional 2,061,451 shares in the last quarter. DnB Asset Management AS grew its position in Finisar by 16.5% in the second quarter. DnB Asset Management AS now owns 6,826,104 shares of the technology company’s stock valued at $122,870,000 after purchasing an additional 964,507 shares in the last quarter. Principal Financial Group Inc. grew its position in Finisar by 4,319.7% in the first quarter. Principal Financial Group Inc. now owns 890,383 shares of the technology company’s stock valued at $14,077,000 after purchasing an additional 870,237 shares in the last quarter. Finally, Glenmede Trust Co. NA grew its position in Finisar by 87.4% in the second quarter. Glenmede Trust Co. NA now owns 1,547,161 shares of the technology company’s stock valued at $27,848,000 after purchasing an additional 721,583 shares in the last quarter.

Finisar Company Profile

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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Earnings History and Estimates for Finisar (NASDAQ:FNSR)

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