Finisar (FNSR) Expected to Post Earnings of $0.12 Per Share

Equities research analysts predict that Finisar (NASDAQ:FNSR) will post $0.12 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Finisar’s earnings. The lowest EPS estimate is $0.09 and the highest is $0.13. Finisar posted earnings per share of $0.50 in the same quarter last year, which would indicate a negative year-over-year growth rate of 76%. The business is expected to issue its next quarterly earnings report on Thursday, June 21st.

On average, analysts expect that Finisar will report full year earnings of $0.93 per share for the current fiscal year, with EPS estimates ranging from $0.91 to $0.96. For the next financial year, analysts anticipate that the company will report earnings of $0.98 per share, with EPS estimates ranging from $0.77 to $1.30. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Finisar.

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Finisar (NASDAQ:FNSR) last released its earnings results on Thursday, March 8th. The technology company reported $0.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.03). The business had revenue of $332.40 million for the quarter, compared to analyst estimates of $333.15 million. Finisar had a return on equity of 5.97% and a net margin of 7.35%. Finisar’s quarterly revenue was down 12.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.59 earnings per share.

A number of equities research analysts have commented on FNSR shares. Goldman Sachs set a $15.00 price objective on shares of Finisar and gave the company a “sell” rating in a research report on Friday, March 9th. Raymond James Financial set a $26.00 price objective on shares of Finisar and gave the company a “buy” rating in a research report on Tuesday, December 19th. Piper Jaffray increased their price objective on shares of Finisar from $22.00 to $28.00 in a research report on Wednesday, December 13th. Needham & Company LLC downgraded shares of Finisar from a “buy” rating to a “hold” rating and increased their price objective for the company from $16.64 to $29.41 in a research report on Friday, March 9th. Finally, Zacks Investment Research raised shares of Finisar from a “sell” rating to a “hold” rating in a research report on Thursday, February 8th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $24.56.

In related news, Director Jerry S. Rawls sold 30,209 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $17.94, for a total value of $541,949.46. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jerry S. Rawls sold 38,000 shares of the stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $14.96, for a total transaction of $568,480.00. Following the completion of the transaction, the director now directly owns 601,258 shares in the company, valued at $8,994,819.68. The disclosure for this sale can be found here. Insiders sold a total of 71,209 shares of company stock worth $1,162,329 over the last ninety days. Insiders own 1.02% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of FNSR. Alliancebernstein L.P. grew its position in shares of 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 buying an additional 2,950,327 shares during the last quarter. Franklin Resources Inc. purchased a new position in Finisar during the 4th quarter worth $30,515,000. Glenmede Trust Co. NA grew its position in Finisar by 3,941.8% during the 4th quarter. Glenmede Trust Co. NA now owns 825,578 shares of the technology company’s stock worth $16,799,000 after purchasing an additional 805,152 shares during the last quarter. Royce & Associates LP grew its position in Finisar by 664.0% during the 4th quarter. Royce & Associates LP now owns 610,400 shares of the technology company’s stock worth $12,422,000 after purchasing an additional 530,500 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in 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 last quarter. 93.46% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:FNSR traded down $0.03 during trading hours on Wednesday, reaching $15.30. The stock had a trading volume of 54,771 shares, compared to its average volume of 4,553,276. Finisar has a 1 year low of $14.25 and a 1 year high of $28.99. The company has a current ratio of 4.06, a quick ratio of 3.24 and a debt-to-equity ratio of 0.29. The company has a market cap of $1,758.27, a PE ratio of 8.86, a P/E/G ratio of 2.33 and a beta of 1.17.

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About Finisar

Finisar Corporation provides optical subsystems and components for data communication and telecommunication applications 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 networks comprising switches, routers, and servers used in wireline networks, as well as antennas and base stations used in wireless networks.

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Earnings History and Estimates for Finisar (NASDAQ:FNSR)

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