Finisar (FNSR) Posts Earnings Results, Misses Expectations By $0.07 EPS
Finisar (NASDAQ:FNSR) issued its quarterly earnings data on Thursday. The technology company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.07), Briefing.com reports. Finisar had a return on equity of 5.97% and a net margin of 7.35%. The firm had revenue of $310.07 million for the quarter, compared to the consensus estimate of $309.93 million. During the same quarter in the prior year, the firm earned $0.50 EPS. The company’s revenue was down 13.3% on a year-over-year basis. Finisar updated its Q1 guidance to $0.10-0.16 EPS.
Shares of Finisar traded down $0.17, reaching $17.70, during midday trading on Thursday, according to Marketbeat. The company’s stock had a trading volume of 3,576,497 shares, compared to its average volume of 3,674,573. The company has a current ratio of 4.06, a quick ratio of 3.24 and a debt-to-equity ratio of 0.29. Finisar has a fifty-two week low of $14.25 and a fifty-two week high of $28.99. The company has a market cap of $2.06 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 2.07 and a beta of 1.19.
A number of brokerages have recently issued reports on FNSR. William Blair restated a “buy” rating on shares of Finisar in a report on Monday, March 5th. Raymond James restated an “outperform” rating on shares of Finisar in a report on Monday, March 5th. DA Davidson restated a “buy” rating and set a $22.00 price objective (down previously from $24.00) on shares of Finisar in a report on Friday, March 9th. Goldman Sachs Group set a $15.00 price objective on Finisar and gave the stock a “sell” rating in a report on Wednesday, April 11th. Finally, Zacks Investment Research upgraded Finisar from a “sell” rating to a “hold” rating in a report on Wednesday, May 9th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. Finisar currently has an average rating of “Hold” and a consensus target price of $24.56.
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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