Analysts predict that Finisar Co. (NASDAQ:FNSR) will report sales of $327.87 million for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Finisar’s earnings, with the lowest sales estimate coming in at $325.00 million and the highest estimate coming in at $335.00 million. Finisar posted sales of $332.21 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 1.3%. The company is expected to issue its next quarterly earnings report on Thursday, December 6th.

According to Zacks, analysts expect that Finisar will report full-year sales of $1.34 billion for the current year, with estimates ranging from $1.31 billion to $1.39 billion. For the next financial year, analysts forecast that the company will report sales of $1.53 billion, with estimates ranging from $1.46 billion to $1.58 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Finisar.

Finisar (NASDAQ:FNSR) last issued its quarterly earnings data on Thursday, September 6th. The technology company reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.06. The company had revenue of $317.30 million during the quarter, compared to analysts’ expectations of $315.77 million. Finisar had a positive return on equity of 1.24% and a negative net margin of 6.71%. The business’s revenue was down 7.2% on a year-over-year basis. During the same period last year, the business earned $0.40 earnings per share.

A number of research analysts have issued reports on the company. Zacks Investment Research cut Finisar from a “hold” rating to a “sell” rating in a report on Wednesday, June 20th. BidaskClub raised Finisar from a “sell” rating to a “hold” rating in a report on Saturday, June 16th. Barclays reissued a “hold” rating and set a $24.00 price objective on shares of Finisar in a report on Sunday, September 9th. DA Davidson lifted their price objective on Finisar to $26.00 and gave the company a “buy” rating in a report on Friday, June 15th. Finally, Cascend Securities assumed coverage on Finisar in a report on Friday, July 13th. They set a “buy” rating and a $25.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. Finisar has an average rating of “Hold” and a consensus price target of $24.28.

Shares of NASDAQ FNSR opened at $18.79 on Wednesday. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 58.50, a P/E/G ratio of 2.76 and a beta of 1.38. Finisar has a 52-week low of $14.25 and a 52-week high of $25.41. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.65 and a quick ratio of 2.98.

In other news, Director Jerry S. Rawls sold 40,000 shares of the firm’s stock in a transaction on Monday, July 2nd. The stock was sold at an average price of $18.14, for a total value of $725,600.00. Following the completion of the sale, the director now directly owns 523,258 shares in the company, valued at $9,491,900.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jerry S. Rawls sold 30,208 shares of the firm’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $16.99, for a total value of $513,233.92. Following the completion of the sale, the director now owns 553,466 shares of the company’s stock, valued at $9,403,387.34. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 110,208 shares of company stock valued at $2,008,434. 1.11% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in FNSR. Victory Capital Management Inc. increased its position in Finisar by 66.2% in the first quarter. Victory Capital Management Inc. now owns 7,763 shares of the technology company’s stock worth $123,000 after purchasing an additional 3,091 shares during the period. Prudential Financial Inc. increased its position in Finisar by 1,485.8% in the first quarter. Prudential Financial Inc. now owns 191,645 shares of the technology company’s stock worth $3,030,000 after purchasing an additional 179,560 shares during the period. Swiss National Bank increased its position in Finisar by 2.3% in the first quarter. Swiss National Bank now owns 198,400 shares of the technology company’s stock worth $3,137,000 after purchasing an additional 4,400 shares during the period. Thrivent Financial for Lutherans acquired a new stake in Finisar in the first quarter worth about $1,214,000. Finally, US Bancorp DE increased its position in Finisar by 29.1% in the first quarter. US Bancorp DE now owns 46,568 shares of the technology company’s stock worth $737,000 after purchasing an additional 10,508 shares during the period.

Finisar Company Profile

Finisar Corporation provides components and subsystems to networking equipment manufacturers, data center operators, telecom service providers, consumer electronics, and automotive companies 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 wireline networks comprising switches, routers, and servers, as well as wireless networks, such as antennas and base stations.

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Earnings History and Estimates for Finisar (NASDAQ:FNSR)

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