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Increased Earnings Estimates Seen for Finisar (FNSR): Can It Move Higher?

Zacks

Finisar Corp. FNSR is a fiber optics company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on FNSR’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Finisar could be a solid choice for investors.

Current Quarter Estimates for FNSR

In the past 30 days, 2 estimates have gone higher for Finisar while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 21 cents a share 30 days ago, to 38 cents today, a move of 80.9%.


Current Year Estimates for FNSR

Meanwhile, Finisar’s current year figures are also looking quite promising, with 2 estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 85 cents per share 30 days ago to $1.39 per share today, an increase of 63.5%.

FINISAR CORP Price and Consensus

FINISAR CORP Price and Consensus | FINISAR CORP Quote

Bottom Line

The stock has also started to move higher lately, adding 36.3% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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