Zacks: Brokerages Anticipate Finisar Co. (FNSR) Will Announce Earnings of $0.24 Per Share

Wall Street analysts expect that Finisar Co. (NASDAQ:FNSR) will announce earnings per share (EPS) of $0.24 for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Finisar’s earnings, with the lowest EPS estimate coming in at $0.22 and the highest estimate coming in at $0.29. Finisar posted earnings per share of $0.59 during the same quarter last year, which would indicate a negative year-over-year growth rate of 59.3%. The business is scheduled to report its next quarterly earnings report on Thursday, March 8th.

On average, analysts expect that Finisar will report full-year earnings of $1.08 per share for the current year, with EPS estimates ranging from $1.03 to $1.12. For the next financial year, analysts forecast that the company will post earnings of $1.39 per share, with EPS estimates ranging from $1.08 to $1.70. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that follow Finisar.

Finisar (NASDAQ:FNSR) last posted its earnings results on Thursday, December 7th. The technology company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03. Finisar had a net margin of 14.33% and a return on equity of 9.51%. The company had revenue of $332.21 million during the quarter, compared to the consensus estimate of $331.69 million.

A number of analysts recently commented on the stock. TheStreet cut shares of Finisar from a “b” rating to a “c+” rating in a research note on Thursday, November 2nd. Zacks Investment Research cut shares of Finisar from a “hold” rating to a “sell” rating in a research report on Wednesday, December 13th. Jefferies Group assumed coverage on shares of Finisar in a research report on Wednesday, November 1st. They set a “buy” rating and a $28.50 price objective on the stock. Piper Jaffray Companies increased their target price on shares of Finisar from $22.00 to $28.00 in a report on Wednesday, December 13th. Finally, ValuEngine raised shares of Finisar from a “hold” rating to a “buy” rating in a report on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $27.27.

Finisar (FNSR) traded down $0.30 during trading on Monday, hitting $17.90. 1,793,824 shares of the stock were exchanged, compared to its average volume of 2,990,000. Finisar has a 1 year low of $16.64 and a 1 year high of $35.56. The company has a market cap of $2,040.00, a P/E ratio of 10.23, a P/E/G ratio of 1.93 and a beta of 1.07. The company has a quick ratio of 6.31, a current ratio of 7.81 and a debt-to-equity ratio of 0.44.

In related news, EVP John H. Clark sold 6,186 shares of the stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $24.90, for a total value of $154,031.40. Following the completion of the transaction, the executive vice president now directly owns 146,053 shares of the company’s stock, valued at approximately $3,636,719.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jerry S. Rawls sold 30,209 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $17.94, for a total transaction of $541,949.46. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,578 shares of company stock worth $1,273,865. 1.02% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of FNSR. Dimensional Fund Advisors LP grew its stake in shares of Finisar by 10.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,832,951 shares of the technology company’s stock worth $107,146,000 after purchasing an additional 471,882 shares during the period. Alliancebernstein L.P. grew its stake in Finisar by 1,459.2% in the 4th quarter. Alliancebernstein L.P. now owns 3,152,517 shares of the technology company’s stock valued at $64,154,000 after acquiring an additional 2,950,327 shares during the period. DnB Asset Management AS grew its stake in Finisar by 22.9% in the 4th quarter. DnB Asset Management AS now owns 2,248,526 shares of the technology company’s stock valued at $45,758,000 after acquiring an additional 419,120 shares during the period. State Street Corp lifted its holdings in Finisar by 5.9% in the 2nd quarter. State Street Corp now owns 2,199,440 shares of the technology company’s stock valued at $57,141,000 after purchasing an additional 121,724 shares in the last quarter. Finally, Snow Capital Management LP lifted its holdings in Finisar by 20.5% in the 4th quarter. Snow Capital Management LP now owns 2,163,902 shares of the technology company’s stock valued at $44,035,000 after purchasing an additional 368,382 shares in the last quarter. 91.42% of the stock is owned by institutional investors.

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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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Earnings History and Estimates for Finisar (NASDAQ:FNSR)

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