Wall Street analysts expect that Finisar Co. (NASDAQ:FNSR) will announce earnings per share of $0.26 for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Finisar’s earnings, with the highest EPS estimate coming in at $0.28 and the lowest estimate coming in at $0.22. Finisar reported earnings of $0.05 per share during the same quarter last year, which indicates a positive year over year growth rate of 420%. The firm is expected to issue its next quarterly earnings results on Thursday, June 13th.
On average, analysts expect that Finisar will report full year earnings of $0.99 per share for the current fiscal year, with EPS estimates ranging from $0.96 to $1.01. For the next financial year, analysts forecast that the business will report earnings of $1.35 per share, with EPS estimates ranging from $1.20 to $1.48. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that that provide coverage for Finisar.
Several research firms have weighed in on FNSR. BidaskClub raised Finisar from a “hold” rating to a “buy” rating in a research report on Saturday, April 13th. Zacks Investment Research cut Finisar from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $25.29.
Several institutional investors and hedge funds have recently made changes to their positions in the company. New York State Teachers Retirement System boosted its stake in shares of Finisar by 1.0% in the 1st quarter. New York State Teachers Retirement System now owns 47,958 shares of the technology company’s stock valued at $1,111,000 after buying an additional 467 shares during the period. State of Alaska Department of Revenue lifted its stake in Finisar by 1.3% during the first quarter. State of Alaska Department of Revenue now owns 39,738 shares of the technology company’s stock worth $920,000 after purchasing an additional 500 shares during the last quarter. Verity Asset Management Inc. lifted its stake in Finisar by 2.0% during the fourth quarter. Verity Asset Management Inc. now owns 35,324 shares of the technology company’s stock worth $763,000 after purchasing an additional 707 shares during the last quarter. Comerica Bank lifted its stake in Finisar by 0.7% during the fourth quarter. Comerica Bank now owns 114,307 shares of the technology company’s stock worth $2,464,000 after purchasing an additional 765 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its stake in Finisar by 1.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 45,469 shares of the technology company’s stock worth $1,054,000 after purchasing an additional 821 shares during the last quarter. Institutional investors and hedge funds own 96.61% of the company’s stock.
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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