Finisar (FNSR) Q4 Results 'Solid'; Est. Raised - Needham & Company
Get Alerts FNSR Hot Sheet
Price: $23.77 --0%
Rating Summary:
6 Buy, 15 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 17 | New: 5
Rating Summary:
6 Buy, 15 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 17 | New: 5
Join SI Premium – FREE
Needham & Company reiterated a Buy rating and $20 price target on Finisar (NASDAQ: FNSR) following Q4 'beat and raise' with gross margin the real story.
Analsyt Alex Henderson comments, "Finisar demonstrated solid cost controls and strong traction in the Data Comm Market. In addition, Finisar offered an upbeat outlook for the July quarter and expectations of improving conditions for the full year. Based on these comments and reported results, we are raising our estimates and reaffirming our Buy."
The firm:
maintained CY 13 revenues estiamtes despite the divestiture - equal to a $20-$25 million increase proforma
increased CY 13 EPS to $0.96 from $0.85
increased CY14 Revenues to $1,155 million from $1,141 mm
increased CY14 EPS to $1.20 from $1.08
For an analyst ratings summary and ratings history on Finisar click here. For more ratings news on Finisar click here.
Shares of Finisar closed at $14.52 yesterday.
Analsyt Alex Henderson comments, "Finisar demonstrated solid cost controls and strong traction in the Data Comm Market. In addition, Finisar offered an upbeat outlook for the July quarter and expectations of improving conditions for the full year. Based on these comments and reported results, we are raising our estimates and reaffirming our Buy."
The firm:
For an analyst ratings summary and ratings history on Finisar click here. For more ratings news on Finisar click here.
Shares of Finisar closed at $14.52 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- AppFolio (APPF) PT Raised to $275 at KeyBanc
- H.C. Wainwright Downgrades Argo Blockchain ADR (ARBK) to Neutral
- DA Davidson Starts Napco Security Technologies, Inc. (NSSC) at Buy
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS ViewRelated Entities
Needham & CompanySign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!