Finisar (FNSR) Releases Q1 Earnings Guidance

Finisar (NASDAQ:FNSR) updated its first quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.10-0.16 for the period, compared to the Thomson Reuters consensus estimate of $0.15. The company issued revenue guidance of $305-325 million, compared to the consensus revenue estimate of $316.96 million.

A number of research firms have weighed in on FNSR. BidaskClub raised shares of Finisar from a strong sell rating to a sell rating in a report on Wednesday, June 6th. Zacks Investment Research raised shares of Finisar from a sell rating to a hold rating in a report on Wednesday, May 9th. Goldman Sachs Group set a $15.00 price objective on shares of Finisar and gave the stock a sell rating in a report on Wednesday, April 11th. Morgan Stanley raised shares of Finisar from an equal weight rating to an overweight rating and set a $21.00 price objective on the stock in a report on Thursday, April 5th. Finally, Barclays set a $23.00 price objective on shares of Finisar and gave the stock a hold rating in a report on Saturday, March 10th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $24.56.

Shares of Finisar traded down $0.17, reaching $17.70, during mid-day trading on Thursday, according to MarketBeat.com. 3,536,576 shares of the company’s stock were exchanged, compared to its average volume of 3,674,223. The company has a current ratio of 4.06, a quick ratio of 3.24 and a debt-to-equity ratio of 0.29. The firm 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. Finisar has a 52-week low of $14.25 and a 52-week high of $28.99.

In related news, Director Roger C. Ferguson sold 3,000 shares of Finisar stock in a transaction on Thursday, March 22nd. The shares were sold at an average price of $17.30, for a total value of $51,900.00. Following the transaction, the director now directly owns 28,784 shares in the company, valued at approximately $497,963.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jerry S. Rawls sold 38,000 shares of Finisar stock in a transaction on 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 transaction, the director now 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 90 days, insiders have sold 109,458 shares of company stock worth $1,728,950. Insiders own 1.02% of the company’s stock.

Finisar Company Profile

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.

Earnings History and Estimates for Finisar (NASDAQ:FNSR)

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