Brokerages Expect Oclaro, Inc. (OCLR) Will Post Earnings of $0.18 Per Share

Analysts expect that Oclaro, Inc. (NASDAQ:OCLR) will announce earnings of $0.18 per share for the current quarter, according to Zacks. Four analysts have provided estimates for Oclaro’s earnings. The highest EPS estimate is $0.19 and the lowest is $0.18. Oclaro posted earnings per share of $0.01 during the same quarter last year, which would indicate a positive year over year growth rate of 1,700%. The firm is scheduled to report its next earnings results after the market closes on Tuesday, May 2nd.

According to Zacks, analysts expect that Oclaro will report full-year earnings of $0.69 per share for the current financial year, with EPS estimates ranging from $0.66 to $0.72. For the next fiscal year, analysts expect that the business will post earnings of $0.73 per share, with EPS estimates ranging from $0.65 to $0.79. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Oclaro.

Oclaro (NASDAQ:OCLR) last released its quarterly earnings data on Tuesday, January 31st. The semiconductor company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.03. The firm earned $153.90 million during the quarter, compared to analyst estimates of $150.53 million. Oclaro had a return on equity of 23.12% and a net margin of 8.83%. The business’s quarterly revenue was up 63.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.03 earnings per share.

A number of research analysts recently commented on the company. B. Riley reissued a “buy” rating and issued a $15.50 price target on shares of Oclaro in a report on Sunday, January 29th. Zacks Investment Research raised Oclaro from a “hold” rating to a “strong-buy” rating and set a $11.00 price target on the stock in a report on Saturday, January 21st. Piper Jaffray Companies reissued an “overweight” rating and issued a $15.00 price target on shares of Oclaro in a report on Friday, March 3rd. Needham & Company LLC reissued a “positive” rating and issued a $14.00 price target on shares of Oclaro in a report on Thursday, January 19th. Finally, Jefferies Group LLC boosted their price target on Oclaro from $11.25 to $13.25 and gave the stock a “buy” rating in a report on Thursday, January 19th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $12.53.

In other Oclaro news, COO James Douglas Haynes sold 20,000 shares of Oclaro stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $10.68, for a total value of $213,600.00. Following the sale, the chief operating officer now owns 309,277 shares of the company’s stock, valued at approximately $3,303,078.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Thomas Gordon Beck Mason sold 62,563 shares of Oclaro stock in a transaction that occurred on Friday, March 17th. The stock was sold at an average price of $9.24, for a total value of $578,082.12. Following the completion of the sale, the insider now directly owns 182,426 shares in the company, valued at approximately $1,685,616.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 87,126 shares of company stock worth $837,403. Corporate insiders own 2.30% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the company. Oberweis Asset Management Inc. purchased a new stake in Oclaro during the fourth quarter worth about $119,000. Suntrust Banks Inc. purchased a new stake in Oclaro during the third quarter worth about $129,000. Trexquant Investment LP purchased a new stake in Oclaro during the fourth quarter worth about $160,000. Greenwood Capital Associates LLC purchased a new stake in Oclaro during the fourth quarter worth about $208,000. Finally, Hodges Capital Management Inc. purchased a new stake in Oclaro during the fourth quarter worth about $218,000. 63.47% of the stock is currently owned by institutional investors and hedge funds.

Oclaro (NASDAQ:OCLR) traded up 0.68% during mid-day trading on Monday, hitting $8.91. The stock had a trading volume of 6,900,800 shares. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of 26.84 and a beta of 1.80. The stock’s 50-day moving average price is $9.17 and its 200-day moving average price is $9.00. Oclaro has a 12 month low of $4.25 and a 12 month high of $11.30.

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Oclaro Company Profile

Oclaro, Inc is a provider of optical components, modules and subsystems for the core optical transport, service provider, enterprise and data center markets. The Company provides various solutions for optical networks and interconnects driving the next wave of streaming video, cloud computing, application virtualization and other bandwidth-intensive and high-speed applications.

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