RBC Capital Reiterates “Outperform” Rating for Finisar (FNSR)
Posted by Karim Khaledi on Aug 19th, 2014 // No Comments
Finisar (NASDAQ:FNSR)‘s stock had its “outperform” rating restated by analysts at RBC Capital in a research report issued to clients and investors on Tuesday. They currently have a $21.00 target price on the stock, down from their previous target price of $23.00. RBC Capital’s target price would suggest a potential upside of 4.48% from the company’s current price.
In other Finisar news, VP Todd Swanson sold 4,946 shares of the company’s stock on the open market in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $20.00, for a total transaction of $98,920.00. The sale was disclosed in a filing with the SEC, which is available at this link.
A number of other analysts have also recently weighed in on FNSR. Analysts at Zacks upgraded shares of Finisar from an “underperform” rating to a “neutral” rating in a research note on Wednesday, August 13th. They now have a $20.50 price target on the stock. Separately, analysts at Raymond James reiterated a “strong-buy” rating on shares of Finisar in a research note on Tuesday, August 5th. They now have a $27.00 price target on the stock, down previously from $28.00. Finally, analysts at Barrington Research initiated coverage on shares of Finisar in a research note on Friday, July 11th. They set a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. Finisar has an average rating of “Buy” and an average target price of $27.05.
Shares of Finisar (NASDAQ:FNSR) traded down 0.85% on Tuesday, hitting $19.93. 364,505 shares of the company’s stock traded hands. Finisar has a one year low of $18.96 and a one year high of $28.85. The stock’s 50-day moving average is $19.98 and its 200-day moving average is $23.09. The company has a market cap of $1.939 billion and a price-to-earnings ratio of 18.37.
Finisar (NASDAQ:FNSR) last released its earnings data on Thursday, June 12th. The company reported $0.36 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.38 by $0.02. The company had revenue of $306.03 million for the quarter, compared to the consensus estimate of $303.92 million. During the same quarter last year, the company posted $0.20 earnings per share. Finisar’s revenue was up 25.7% compared to the same quarter last year. Analysts expect that Finisar will post $1.43 EPS for the current fiscal year.
Finisar Corporation (NASDAQ:FNSR) is a provider of optical subsystems and components that are used in data communication and telecommunication applications. |
