Viavi Solutions (NASDAQ:VIAV) posted its quarterly earnings data on Thursday, May 3rd. The communications equipment provider reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.04, Bloomberg Earnings reports. The company had revenue of $219.40 million during the quarter, compared to analysts’ expectations of $208.00 million. Viavi Solutions had a negative net margin of 0.43% and a positive return on equity of 10.74%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 earnings per share. Viavi Solutions updated its Q4 guidance to $0.08-0.12 EPS.
Shares of Viavi Solutions stock traded up $0.07 during trading on Friday, reaching $10.17. The company’s stock had a trading volume of 28,167 shares, compared to its average volume of 2,324,218. Viavi Solutions has a fifty-two week low of $9.89 and a fifty-two week high of $10.03. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.58 and a quick ratio of 1.43. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 27.03, a PEG ratio of 1.47 and a beta of 0.96.
VIAV has been the subject of several recent analyst reports. BidaskClub upgraded shares of Viavi Solutions from a “sell” rating to a “hold” rating in a research report on Wednesday, March 7th. Morgan Stanley increased their target price on shares of Viavi Solutions from $9.00 to $10.50 and gave the stock an “equal weight” rating in a research note on Friday, February 2nd. Loop Capital raised shares of Viavi Solutions from a “hold” rating to a “buy” rating and set a $9.50 target price for the company in a research note on Monday, February 5th. Argus raised shares of Viavi Solutions from a “hold” rating to a “buy” rating and set a $9.92 target price for the company in a research note on Tuesday, May 8th. Finally, Zacks Investment Research raised shares of Viavi Solutions from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research note on Friday, March 23rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. Viavi Solutions presently has an average rating of “Hold” and a consensus price target of $11.16.
In related news, VP Kevin Christopher Siebert sold 7,415 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $9.79, for a total value of $72,592.85. Following the sale, the vice president now directly owns 17,360 shares in the company, valued at approximately $169,954.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Ralph Rondinone sold 10,087 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $9.81, for a total transaction of $98,953.47. The disclosure for this sale can be found here. Over the last quarter, insiders sold 87,134 shares of company stock worth $856,012. 0.59% of the stock is currently owned by insiders.
About Viavi Solutions
Viavi Solutions Inc provides network test, monitoring, and assurance solutions to communications service providers, and enterprises and their ecosystems worldwide. The company operates through Network Enablement, Service Enablement, and Optical Security and Performance Products segments. The Network Enablement segment offers testing solutions that access the network to perform build-out and maintenance tasks.
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