Finisar Co. (NASDAQ:FNSR) – Equities research analysts at Jefferies Group raised their Q2 2018 earnings per share (EPS) estimates for Finisar in a report issued on Thursday, Zacks Investment Research reports. Jefferies Group analyst J. Kisner now forecasts that the technology company will post earnings per share of $0.53 for the quarter, up from their previous forecast of $0.50. Jefferies Group currently has a “Buy” rating and a $34.00 target price on the stock. Jefferies Group also issued estimates for Finisar’s Q3 2018 earnings at $0.57 EPS, Q4 2018 earnings at $0.53 EPS, FY2018 earnings at $2.10 EPS and Q2 2019 earnings at $0.56 EPS.
Finisar (NASDAQ:FNSR) last released its quarterly earnings data on Thursday, March 9th. The technology company reported $0.59 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by $0.03. Finisar had a return on equity of 10.56% and a net margin of 7.31%. The firm earned $380.60 million during the quarter, compared to the consensus estimate of $389.69 million. During the same period in the previous year, the firm earned $0.25 EPS. The business’s revenue was up 23.1% compared to the same quarter last year. ILLEGAL ACTIVITY WARNING: This news story was reported by BBNS and is the sole property of of BBNS. If you are viewing this news story on another site, it was illegally copied and reposted in violation of U.S. and international trademark and copyright legislation. The correct version of this news story can be accessed at https://baseballnewssource.com/markets/jefferies-group-comments-on-finisar-co-s-q2-2018-earnings-fnsr-updated-updated/525988.html.
Several other research analysts have also commented on FNSR. Zacks Investment Research lowered Finisar from a “strong-buy” rating to a “sell” rating in a research report on Wednesday, February 8th. B. Riley restated a “buy” rating on shares of Finisar in a research report on Thursday, January 5th. Citigroup Inc upgraded Finisar to a “strong-buy” rating and set a $40.00 price target for the company in a research report on Monday, March 13th. Raymond James Financial, Inc. upgraded Finisar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price target for the company in a research report on Monday, March 13th. Finally, Vetr lowered Finisar from a “buy” rating to a “hold” rating and set a $35.76 price target for the company. in a research report on Tuesday, February 21st. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and three have issued a strong buy rating to the company’s stock. Finisar has an average rating of “Buy” and a consensus target price of $38.52.
Finisar (NASDAQ:FNSR) traded up 3.06% during mid-day trading on Friday, reaching $22.53. The company’s stock had a trading volume of 5,994,139 shares. The company has a market cap of $2.51 billion, a PE ratio of 19.17 and a beta of 1.30. Finisar has a 12-month low of $15.21 and a 12-month high of $36.85. The firm’s 50 day moving average is $27.54 and its 200-day moving average is $30.08.
In other Finisar news, EVP Todd Swanson sold 6,183 shares of Finisar stock in a transaction dated Monday, April 17th. The stock was sold at an average price of $24.13, for a total transaction of $149,195.79. Following the completion of the sale, the executive vice president now directly owns 229,219 shares of the company’s stock, valued at approximately $5,531,054.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joseph A. Young sold 26,273 shares of Finisar stock in a transaction dated Monday, February 13th. The stock was sold at an average price of $35.43, for a total value of $930,852.39. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,193 shares of company stock valued at $3,580,058. 1.34% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in FNSR. Rothschild Asset Management Inc. increased its stake in shares of Finisar by 2.7% in the third quarter. Rothschild Asset Management Inc. now owns 1,102,275 shares of the technology company’s stock worth $32,848,000 after buying an additional 29,310 shares during the period. Old Mutual Global Investors UK Ltd. acquired a new stake in shares of Finisar during the third quarter worth about $6,135,000. Chicago Equity Partners LLC increased its stake in shares of Finisar by 108.3% in the third quarter. Chicago Equity Partners LLC now owns 36,930 shares of the technology company’s stock worth $1,101,000 after buying an additional 19,200 shares during the period. Strs Ohio increased its stake in shares of Finisar by 143.1% in the third quarter. Strs Ohio now owns 15,800 shares of the technology company’s stock worth $470,000 after buying an additional 9,300 shares during the period. Finally, Insight Capital Research & Management Inc. acquired a new stake in shares of Finisar during the third quarter worth about $727,000. 91.70% of the stock is owned by institutional investors.
Finisar Company Profile
Finisar Corporation (Finisar) is a provider of optical subsystems and components that are used in data communication and telecommunication applications. The Company’s optical subsystems consist of transmitters, receivers, transceivers, transponders and active optical cables, which provide the fundamental optical-electrical or optoelectronic interface for interconnecting the electronic equipment used in these networks, including the switches, routers, and servers used in wireline networks.
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