$327.87 Million in Sales Expected for Finisar Co. (FNSR) This Quarter

Analysts forecast that Finisar Co. (NASDAQ:FNSR) will announce $327.87 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Finisar’s earnings, with the lowest sales estimate coming in at $325.00 million and the highest estimate coming in at $335.00 million. Finisar posted sales of $332.21 million in the same quarter last year, which would indicate a negative year over year growth rate of 1.3%. The firm is expected to issue its next earnings results 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 financial year, analysts anticipate that the business will post sales of $1.53 billion, with estimates ranging from $1.46 billion to $1.58 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Finisar.

Finisar (NASDAQ:FNSR) last released its quarterly earnings results on Thursday, September 6th. The technology company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.06. The firm had revenue of $317.30 million for the quarter, compared to analysts’ expectations of $315.77 million. Finisar had a positive return on equity of 1.24% and a negative net margin of 6.71%. The company’s revenue was down 7.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.40 EPS.

FNSR has been the topic of a number of recent research reports. BidaskClub cut Finisar from a “sell” rating to a “strong sell” rating in a report on Thursday, July 26th. Raymond James cut Finisar from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 22nd. Barclays reaffirmed a “hold” rating and issued a $24.00 target price on shares of Finisar in a report on Sunday, September 9th. B. Riley decreased their target price on Finisar from $19.00 to $17.00 and set a “neutral” rating on the stock in a report on Tuesday, September 4th. Finally, Cascend Securities initiated coverage on 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, nine have issued a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $24.28.

Shares of Finisar stock opened at $18.79 on Wednesday. Finisar has a one year low of $14.25 and a one year high of $25.41. The firm has a market capitalization of $2.16 billion, a P/E ratio of 58.50, a P/E/G ratio of 2.76 and a beta of 1.38. The company has a current ratio of 3.65, a quick ratio of 2.98 and a debt-to-equity ratio of 0.31.

In related news, Director Jerry S. Rawls sold 40,000 shares of the stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $18.14, for a total value of $725,600.00. Following the completion of the transaction, the director now owns 523,258 shares of the company’s stock, valued at approximately $9,491,900.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jerry S. Rawls sold 30,208 shares of the stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $16.99, for a total transaction of $513,233.92. Following the completion of the transaction, the director now directly owns 553,466 shares of the company’s stock, valued at approximately $9,403,387.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,208 shares of company stock valued at $2,008,434. 1.11% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quantitative Systematic Strategies LLC bought a new stake in Finisar in the second quarter worth about $841,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Finisar in the second quarter worth about $437,000. Lumina Fund Management LLC lifted its stake in Finisar by 10.3% in the second quarter. Lumina Fund Management LLC now owns 30,000 shares of the technology company’s stock worth $540,000 after purchasing an additional 2,800 shares during the last quarter. Rhumbline Advisers lifted its stake in Finisar by 3.2% in the second quarter. Rhumbline Advisers now owns 278,260 shares of the technology company’s stock worth $5,009,000 after purchasing an additional 8,543 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its stake in Finisar by 11.0% in the second quarter. State of New Jersey Common Pension Fund D now owns 1,770,000 shares of the technology company’s stock worth $31,860,000 after purchasing an additional 175,000 shares during the last quarter.

About Finisar

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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