Finisar Co. (NASDAQ:FNSR) Expected to Announce Quarterly Sales of $309.58 Million

Wall Street brokerages expect Finisar Co. (NASDAQ:FNSR) to announce sales of $309.58 million for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Finisar’s earnings, with the highest sales estimate coming in at $332.50 million and the lowest estimate coming in at $281.30 million. Finisar reported sales of $317.34 million during the same quarter last year, which would suggest a negative year over year growth rate of 2.4%. The firm is expected to issue its next earnings report on Thursday, September 5th.

On average, analysts expect that Finisar will report full year sales of $1.33 billion for the current financial year, with estimates ranging from $1.26 billion to $1.43 billion. For the next financial year, analysts anticipate that the firm will report sales of $1.39 billion, with estimates ranging from $1.31 billion to $1.44 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Finisar.

Finisar (NASDAQ:FNSR) last announced its quarterly earnings data on Thursday, June 13th. The technology company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.04. The firm had revenue of $310.09 million during the quarter, compared to the consensus estimate of $323.42 million. Finisar had a positive return on equity of 4.22% and a negative net margin of 4.16%.

A number of equities research analysts have recently weighed in on FNSR shares. BidaskClub downgraded Finisar from a “buy” rating to a “hold” rating in a research note on Tuesday. B. Riley reaffirmed a “neutral” rating on shares of Finisar in a research note on Friday, June 14th. Zacks Investment Research downgraded Finisar from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 2nd. Stifel Nicolaus set a $23.00 price target on Finisar and gave the stock a “hold” rating in a research note on Friday, June 14th. Finally, MKM Partners cut their price target on Finisar to $23.00 and set a “neutral” rating for the company in a research note on Friday, June 14th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $25.40.

Shares of FNSR traded up $0.08 during midday trading on Thursday, reaching $22.44. 736,363 shares of the stock were exchanged, compared to its average volume of 1,481,465. Finisar has a 12-month low of $15.81 and a 12-month high of $24.77. The firm has a 50 day simple moving average of $23.12 and a 200-day simple moving average of $23.13. The company has a quick ratio of 5.72, a current ratio of 7.12 and a debt-to-equity ratio of 0.32. The company has a market cap of $2.67 billion, a price-to-earnings ratio of 38.03, a P/E/G ratio of 2.55 and a beta of 1.50.

Hedge funds and other institutional investors have recently modified their holdings of the company. Investors Research Corp acquired a new position in shares of Finisar during the 1st quarter valued at about $37,000. Versant Capital Management Inc increased its holdings in shares of Finisar by 117.2% during the 1st quarter. Versant Capital Management Inc now owns 2,604 shares of the technology company’s stock valued at $60,000 after acquiring an additional 1,405 shares during the last quarter. Quantamental Technologies LLC acquired a new position in shares of Finisar during the 2nd quarter valued at about $227,000. Supplemental Annuity Collective Trust of NJ increased its holdings in shares of Finisar by 10.0% during the 2nd quarter. Supplemental Annuity Collective Trust of NJ now owns 11,000 shares of the technology company’s stock valued at $252,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Finisar during the 2nd quarter valued at about $258,000. 94.18% of the stock is currently owned by institutional investors and hedge funds.

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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