Brokerages predict that Viavi Solutions Inc. (NASDAQ:VIAV – Get Rating) will post $309.83 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Viavi Solutions’ earnings. The lowest sales estimate is $309.00 million and the highest is $310.79 million. Viavi Solutions posted sales of $303.40 million during the same quarter last year, which would indicate a positive year over year growth rate of 2.1%. The company is expected to issue its next quarterly earnings report on Monday, January 1st.
On average, analysts expect that Viavi Solutions will report full-year sales of $1.27 billion for the current financial year, with estimates ranging from $1.26 billion to $1.28 billion. For the next financial year, analysts expect that the business will report sales of $1.33 billion, with estimates ranging from $1.30 billion to $1.35 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Viavi Solutions.
Viavi Solutions (NASDAQ:VIAV – Get Rating) last released its earnings results on Thursday, February 3rd. The communications equipment provider reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.06. The firm had revenue of $314.80 million during the quarter, compared to analyst estimates of $303.60 million. Viavi Solutions had a negative net margin of 0.82% and a positive return on equity of 20.49%. During the same quarter in the previous year, the business earned $0.18 EPS.
VIAV has been the subject of a number of research analyst reports. B. Riley boosted their target price on shares of Viavi Solutions from $19.50 to $21.00 in a research report on Friday, February 4th. TheStreet downgraded shares of Viavi Solutions from a “b” rating to a “c+” rating in a report on Wednesday, March 9th. JPMorgan Chase & Co. boosted their price objective on shares of Viavi Solutions from $18.00 to $19.00 in a report on Thursday, January 20th. Finally, StockNews.com began coverage on shares of Viavi Solutions in a report on Thursday, March 31st. They set a “strong-buy” rating on the stock. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $20.50.
In other news, SVP Luke M. Scrivanich sold 6,690 shares of the company’s stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $15.75, for a total transaction of $105,367.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Paul Mcnab sold 6,576 shares of the company’s stock in a transaction that occurred on Monday, February 14th. The stock was sold at an average price of $16.75, for a total transaction of $110,148.00. The disclosure for this sale can be found here. In the last three months, insiders sold 17,751 shares of company stock worth $290,614. 1.63% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the company. Tygh Capital Management Inc. lifted its position in shares of Viavi Solutions by 1.4% during the third quarter. Tygh Capital Management Inc. now owns 690,214 shares of the communications equipment provider’s stock worth $10,864,000 after purchasing an additional 9,379 shares in the last quarter. Force Hill Capital Management LP lifted its position in shares of Viavi Solutions by 244.7% during the third quarter. Force Hill Capital Management LP now owns 1,196,131 shares of the communications equipment provider’s stock worth $18,827,000 after purchasing an additional 849,131 shares in the last quarter. Greenwood Capital Associates LLC lifted its holdings in Viavi Solutions by 6.7% in the third quarter. Greenwood Capital Associates LLC now owns 59,938 shares of the communications equipment provider’s stock valued at $943,000 after buying an additional 3,759 shares during the period. Public Sector Pension Investment Board lifted its holdings in Viavi Solutions by 4.2% in the third quarter. Public Sector Pension Investment Board now owns 486,709 shares of the communications equipment provider’s stock valued at $7,661,000 after buying an additional 19,502 shares during the period. Finally, Capital World Investors lifted its holdings in Viavi Solutions by 3.4% in the third quarter. Capital World Investors now owns 6,032,000 shares of the communications equipment provider’s stock valued at $94,944,000 after buying an additional 200,000 shares during the period. Institutional investors own 94.12% of the company’s stock.
Viavi Solutions stock opened at $14.79 on Tuesday. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of -246.42 and a beta of 0.70. The company has a debt-to-equity ratio of 0.98, a quick ratio of 3.74 and a current ratio of 4.14. Viavi Solutions has a fifty-two week low of $14.68 and a fifty-two week high of $18.14. The stock’s fifty day moving average price is $16.19.
About Viavi Solutions
Viavi Solutions Inc provides network test, monitoring, and assurance solutions to communications service providers, enterprises, network equipment manufacturers, government, and avionics customers worldwide. The company operates through three segments: Network Enablement (NE), Service Enablement (SE), and Optical Security and Performance Products (OSP) segments.