$0.21 Earnings Per Share Expected for Finisar Co. (FNSR) This Quarter

Wall Street analysts predict that Finisar Co. (NASDAQ:FNSR) will post $0.21 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Seven 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 during the same quarter last year, which indicates a negative year over year growth rate of 8.7%. The business is expected to report its next earnings results on Thursday, December 6th.

On average, analysts expect that Finisar will report full year earnings of $0.92 per share for the current financial year, with EPS estimates ranging from $0.84 to $1.02. For the next financial year, analysts expect that the company will report earnings of $1.52 per share, with EPS estimates ranging from $1.43 to $1.75. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Finisar.

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

Several equities analysts recently commented on FNSR shares. Cascend Securities started coverage on Finisar in a research report on Friday, July 13th. They set a “buy” rating and a $25.00 price target on the stock. BidaskClub lowered Finisar from a “hold” rating to a “sell” rating in a research report on Thursday, July 19th. Zacks Investment Research raised Finisar from a “sell” rating to a “hold” rating in a research report on Monday, August 20th. Raymond James downgraded Finisar from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 22nd. Finally, Piper Jaffray Companies upgraded Finisar from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $18.00 to $26.00 in a report on Thursday, August 23rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $23.46.

In other news, Director Roger C. Ferguson sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $18.44, for a total value of $55,320.00. Following the completion of the sale, the director now directly owns 32,920 shares in the company, valued at approximately $607,044.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jerry S. Rawls sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $19.24, for a total value of $769,600.00. Following the completion of the sale, the director now owns 483,258 shares of the company’s stock, valued at $9,297,883.92. The disclosure for this sale can be found here. Insiders have sold a total of 83,000 shares of company stock worth $1,576,920 over the last 90 days. 1.11% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Quantitative Systematic Strategies LLC bought a new stake in shares of Finisar in the 2nd quarter valued at approximately $841,000. Lumina Fund Management LLC increased its holdings in shares of Finisar by 10.3% in the 2nd quarter. Lumina Fund Management LLC now owns 30,000 shares of the technology company’s stock valued at $540,000 after acquiring an additional 2,800 shares during the last quarter. Glenmede Trust Co. NA increased its holdings in shares of Finisar by 87.4% in the 2nd quarter. Glenmede Trust Co. NA now owns 1,547,161 shares of the technology company’s stock valued at $27,848,000 after acquiring an additional 721,583 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Finisar by 3.2% in the 2nd quarter. Legal & General Group Plc now owns 250,247 shares of the technology company’s stock valued at $4,481,000 after acquiring an additional 7,643 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Finisar by 3.2% in the 2nd quarter. Rhumbline Advisers now owns 278,260 shares of the technology company’s stock valued at $5,009,000 after acquiring an additional 8,543 shares during the last quarter.

Finisar stock traded down $0.01 during midday trading on Friday, hitting $16.69. 3,009,211 shares of the company were exchanged, compared to its average volume of 1,821,073. The firm has a market capitalization of $1.96 billion, a PE ratio of 52.16, a price-to-earnings-growth ratio of 2.89 and a beta of 1.42. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.98 and a current ratio of 3.65. Finisar has a fifty-two week low of $14.25 and a fifty-two week high of $25.41.

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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