Finisar (NASDAQ:FNSR) released its quarterly earnings results on Thursday. The technology company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.07), Briefing.com reports. Finisar had a net margin of 7.35% and a return on equity of 5.97%. The business had revenue of $310.07 million during the quarter, compared to analysts’ expectations of $309.93 million. During the same quarter last year, the company earned $0.50 EPS. The firm’s revenue for the quarter was down 13.3% compared to the same quarter last year. Finisar updated its Q1 guidance to $0.10-0.16 EPS.
Shares of Finisar traded down $0.17, reaching $17.70, on Thursday, Marketbeat reports. 3,565,313 shares of the company were exchanged, compared to its average volume of 3,674,426. The company has a quick ratio of 3.24, a current ratio of 4.06 and a debt-to-equity ratio of 0.29. Finisar has a 1-year low of $14.25 and a 1-year high of $28.99. The stock has a market cap of $2.06 billion, a PE ratio of 10.23, a price-to-earnings-growth ratio of 2.07 and a beta of 1.19.
Several analysts recently commented on FNSR shares. William Blair reiterated a “buy” rating on shares of Finisar in a research report on Monday, March 5th. Morgan Stanley started coverage on shares of Finisar in a research report on Friday, March 9th. They issued an “equal weight” rating and a $21.00 price target for the company. B. Riley reduced their price target on shares of Finisar from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, March 1st. Goldman Sachs Group set a $15.00 price objective on shares of Finisar and gave the stock a “sell” rating in a research report on Friday, March 9th. Finally, Barclays set a $23.00 price objective on shares of Finisar and gave the stock a “hold” rating in a research report on Saturday, March 10th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $24.56.
In related news, Director Jerry S. Rawls sold 38,250 shares of the stock in a transaction dated Friday, June 1st. The shares were sold at an average price of $16.67, for a total value of $637,627.50. Following the sale, the director now directly owns 601,508 shares of the company’s stock, valued at approximately $10,027,138.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jerry S. Rawls sold 38,000 shares of the stock in a transaction dated 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 sale, 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. Over the last ninety days, insiders have sold 109,458 shares of company stock worth $1,728,950. Corporate insiders own 1.02% of the company’s stock.
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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