For this quarter, Wall Street analysts forecast Finisar Corporation (FNSR) revenue in a range of $306.77 million to $313.4 million, which should be compared with $0 generated last year.The shares have dropped -2.1% since the company’s Apr-18 earnings report. Over the past 12 fiscal quarters, Finisar Corporation (NASDAQ:FNSR) has topped consensus earnings estimates in 7 quarters (58%), missed earnings in 5 quarters (41%), whereas at 0 occasion EPS met analyst expectations. FNSR last reported earnings on December 03, 2018 when it released Oct-18 results that exceeded expectations. The company raked in $0.26 per share, -98.76% change on the same period last year. That was better than consensus for $0.22. Revenue for the recent quarter stood at $325.42 million, down -2% on last year and below the $326.59 million predicted by analysts.
FNSR’s 50 day simple moving average (SMA 50) price is $19.28 and its 200-day simple moving average (SMA 200) price is $18.05. The company’s stock currently has a total float of 114.65M shares. Its weekly volatility is hovering around 2.75% and felt 3.65% volatility in price over a month. On the upside, the share price will test short term resistance at around $23.3. On a downside, the stock is likely to find some support, which begins at $22.43. The failure to get near-term support could push it to $21.86.
Separately, it has been reported that multiple insider activity took place at Finisar Corporation (FNSR). Director Rawls Jerry S sold 40,000 shares for $416,171 in transaction occurred on 2018/12/04. After making this transaction, the Director owns a direct stake of 921,200 shares, worth $9,576,095, as per the last closing price. On 2018/11/01 Rawls Jerry S, Director at FNSR, dumped 30,208 shares at an average price of $16.77 per share. The selling total is valued at $10,496,495.
Director, Ferguson Roger C had divested 3,000 shares for $32,920 through a trade on 2018/09/24. Following this activity, the insider holds 55,320 shares worth $757,489 as of recent close. Wall Street’s most bullish Finisar Corporation (NASDAQ:FNSR) analysts are predicting the share price to blow past $26 per share during the next 12 months. The current median share price forecast by them is $24, suggesting that the stock could increase 4.3% in that time frame. The average price target of $23.95 calls for a nearly 4.09% increase in the stock price.
It had seen a new analyst call from Stifel, which initiated the stock at Hold on October 23. Analysts at Morgan Stanley, shed their positive views on September 13 by lowering it fromOverweight to Equal-Weight. Brokerage firm B. Riley FBR, looks cautious as they stick to prior recommendation of Neutral, in a call on September 07. However, they did change the target price from $17 to $19. Piper Jaffray analysts came out with bullish views on August 23 when the call was made. They think the stock is now Overweight compared to to their prior call for Neutral.
Moreover, it trades for 15.46 times the next 12 months of expected earnings. Also, it is trading at rather expensive levels at just over 1.66x price/book and 2.04x price/sales. Compared to others, Finisar Corporation is in a different league with regards to profitability, having net margins of -6.7%. To put some perspective around this, the industry’s average net margin is -1.96%. FNSR’s ROE is -5.3%, which is also considerably worse than the industry’s ROE of 2.06%. It’s also very liquid in the near term, with a current ratio of 3.6. The stock has a debt/capital of 0.47.
Finisar Corporation (NASDAQ:FNSR) shares went up 0.66% in Thursday’s session, putting the price tag at $23.01 plus $2.64B in market capitalization. Earlier in the session, the stock traded between $22.152 and $23.02. Trading activity significantly weakened as the volume at ready counter decreased to 4,947,077 shares versus 5,071,290 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 3,211,751 shares. The stock is now 61.47% above against its bear-market low of $14.25 on April 04, 2018. It has retreated -10.43% since it’s 52-week high of $25.41 reached in December. Now the market price is up 29.05% on the year and up 13.07% YTD.