Viavi Solutions Inc. (VIAV) Issues Q2 Earnings Guidance
Viavi Solutions Inc. (NASDAQ:VIAV) updated its second quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.06-0.08 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.09. The company issued revenue guidance of $175-195 million, compared to the consensus revenue estimate of $194.63 million.
A number of brokerages have recently issued reports on VIAV. B. Riley reiterated a buy rating and set a $14.00 price objective on shares of Viavi Solutions in a research note on Tuesday, August 15th. BidaskClub cut Viavi Solutions from a buy rating to a hold rating in a research note on Tuesday, August 1st. MKM Partners upped their price objective on Viavi Solutions from $11.00 to $12.00 and gave the stock a buy rating in a research note on Wednesday, August 16th. Zacks Investment Research lowered Viavi Solutions from a hold rating to a sell rating in a report on Thursday. Finally, Stifel Nicolaus reissued a hold rating and set a $11.00 target price on shares of Viavi Solutions in a report on Wednesday, August 16th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. Viavi Solutions has a consensus rating of Hold and an average price target of $12.78.
Viavi Solutions (NASDAQ:VIAV) last released its earnings results on Wednesday, November 1st. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.06. Viavi Solutions had a return on equity of 9.02% and a net margin of 10.57%. The business had revenue of $195.20 million during the quarter, compared to the consensus estimate of $183.89 million. During the same period last year, the business posted $0.09 earnings per share. The business’s revenue for the quarter was down 7.4% on a year-over-year basis.
In other Viavi Solutions news, VP Kevin Christopher Siebert sold 10,689 shares of the firm’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $9.40, for a total value of $100,476.60. Following the completion of the sale, the vice president now directly owns 14,968 shares of the company’s stock, valued at $140,699.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard Belluzzo sold 10,000 shares of the firm’s stock in a transaction on Friday, October 13th. The stock was sold at an average price of $9.54, for a total value of $95,400.00. The disclosure for this sale can be found here. Insiders sold 100,151 shares of company stock valued at $972,975 over the last three months. Company insiders own 0.59% of the company’s stock.
Viavi Solutions Company Profile
Viavi Solutions Inc (Viavi) is a provider of network test, monitoring and assurance solutions to communications service providers, enterprises and their ecosystems. The Company also offers thin film optical coatings, providing light management solutions to anti-counterfeiting, consumer and industrial, government and healthcare and other markets.
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