Equities analysts predict that Viavi Solutions Inc (NASDAQ:VIAV) will report $269.79 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Viavi Solutions’ earnings. The highest sales estimate is $271.38 million and the lowest is $267.10 million. Viavi Solutions reported sales of $195.20 million during the same quarter last year, which would suggest a positive year over year growth rate of 38.2%. The business is scheduled to report its next quarterly earnings report after the market closes on Thursday, November 1st.
On average, analysts expect that Viavi Solutions will report full year sales of $1.09 billion for the current fiscal year, with estimates ranging from $1.07 billion to $1.10 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $1.14 billion, with estimates ranging from $1.13 billion to $1.17 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Viavi Solutions.
Viavi Solutions (NASDAQ:VIAV) last announced its earnings results on Tuesday, August 14th. The communications equipment provider reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.03. Viavi Solutions had a negative net margin of 5.22% and a positive return on equity of 11.57%. The business had revenue of $264.00 million during the quarter, compared to the consensus estimate of $255.10 million. During the same quarter in the prior year, the firm earned $0.12 earnings per share. The business’s quarterly revenue was up 33.3% compared to the same quarter last year.
Several equities research analysts have recently weighed in on the stock. BidaskClub upgraded shares of Viavi Solutions from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 4th. Zacks Investment Research upgraded shares of Viavi Solutions from a “hold” rating to a “strong-buy” rating and set a $14.00 target price for the company in a research note on Wednesday, October 17th. ValuEngine upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, October 2nd. Stifel Nicolaus assumed coverage on shares of Viavi Solutions in a research note on Monday. They set a “buy” rating and a $14.00 target price for the company. Finally, Deutsche Bank upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Monday, October 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $11.79.
In related news, SVP Gary W. Staley sold 4,927 shares of the firm’s stock in a transaction dated Thursday, October 4th. The shares were sold at an average price of $12.55, for a total value of $61,833.85. Following the completion of the sale, the senior vice president now owns 10,111 shares in the company, valued at $126,893.05. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Paul Mcnab sold 57,668 shares of the firm’s stock in a transaction dated Thursday, October 4th. The shares were sold at an average price of $12.56, for a total transaction of $724,310.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 117,495 shares of company stock valued at $1,417,459. 0.50% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in the stock. DnB Asset Management AS purchased a new position in Viavi Solutions in the second quarter valued at about $40,256,000. Millennium Management LLC increased its holdings in Viavi Solutions by 991.2% in the first quarter. Millennium Management LLC now owns 2,163,342 shares of the communications equipment provider’s stock valued at $21,028,000 after buying an additional 1,965,080 shares in the last quarter. Dorsal Capital Management LLC increased its holdings in Viavi Solutions by 31.9% in the second quarter. Dorsal Capital Management LLC now owns 4,750,000 shares of the communications equipment provider’s stock valued at $48,640,000 after buying an additional 1,150,000 shares in the last quarter. Eagle Asset Management Inc. purchased a new position in Viavi Solutions in the second quarter valued at about $5,656,000. Finally, Segall Bryant & Hamill LLC purchased a new position in Viavi Solutions in the second quarter valued at about $4,849,000. Hedge funds and other institutional investors own 90.72% of the company’s stock.
Shares of VIAV traded down $0.09 during mid-day trading on Thursday, hitting $11.84. 2,955,767 shares of the company’s stock were exchanged, compared to its average volume of 2,225,999. Viavi Solutions has a fifty-two week low of $8.34 and a fifty-two week high of $12.82. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 34.82 and a beta of 0.88. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.89 and a current ratio of 2.05.
About Viavi Solutions
Viavi Solutions Inc provides network test, monitoring, and assurance solutions to communications service providers, enterprises, network equipment manufacturers, civil government, military, and avionics customers worldwide. The company operates through Network Enablement, Service Enablement, and Optical Security and Performance Products segments.
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