Oclaro Inc. Expected to Earn Q2 2018 Earnings of $0.13 Per Share (OCLR)
Oclaro Inc. (NASDAQ:OCLR) – Equities researchers at B. Riley upped their Q2 2018 earnings per share (EPS) estimates for shares of Oclaro in a report issued on Thursday. B. Riley analyst D. Kang now anticipates that the brokerage will post earnings of $0.13 per share for the quarter, up from their previous forecast of $0.12. B. Riley has a “Buy” rating and a $11.00 price objective on the stock. B. Riley also issued estimates for Oclaro’s Q3 2018 earnings at $0.12 EPS, Q4 2018 earnings at $0.14 EPS and FY2018 earnings at $0.49 EPS.
Several other research firms also recently weighed in on OCLR. MKM Partners raised their price target on shares of Oclaro from $8.00 to $10.00 and gave the stock a “top pick” rating in a research note on Thursday, September 1st. TheStreet raised shares of Oclaro from a “hold” rating to a “buy” rating in a research note on Wednesday, August 3rd. Vetr downgraded shares of Oclaro from a “strong-buy” rating to a “buy” rating and set a $10.31 price target on the stock. in a research note on Thursday. Piper Jaffray Cos. reissued an “overweight” rating and issued a $6.75 price target on shares of Oclaro in a research note on Monday, August 1st. Finally, Needham & Company LLC decreased their price target on shares of Oclaro from $10.00 to $8.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, August 30th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $8.65.
Oclaro (NASDAQ:OCLR) traded down 1.74% during midday trading on Friday, reaching $9.06. 1,827,392 shares of the company’s stock traded hands. Oclaro has a 1-year low of $2.37 and a 1-year high of $9.34. The firm’s 50-day moving average is $8.36 and its 200-day moving average is $6.00. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 116.15 and a beta of 1.82.
Oclaro (NASDAQ:OCLR) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.05. The company earned $125.20 million during the quarter, compared to analysts’ expectations of $119.41 million. Oclaro had a net margin of 2.10% and a return on equity of 6.24%. The firm’s quarterly revenue was up 52.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.06) EPS.
In other news, EVP Lisa Paul sold 9,363 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $7.69, for a total value of $72,001.47. Following the completion of the transaction, the executive vice president now owns 218,264 shares of the company’s stock, valued at $1,678,450.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Adam Carter sold 19,506 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $6.00, for a total transaction of $117,036.00. Following the completion of the transaction, the insider now directly owns 202,584 shares of the company’s stock, valued at approximately $1,215,504. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Front Street Capital Management Inc. acquired a new position in Oclaro during the second quarter valued at approximately $3,025,000. Wolverine Asset Management LLC purchased a new position in shares of Oclaro during the second quarter worth about $610,000. CI Investments Inc. purchased a new position in shares of Oclaro during the second quarter worth about $2,179,000. Stifel Financial Corp purchased a new position in shares of Oclaro during the second quarter worth about $108,000. Finally, Elk Creek Partners LLC purchased a new position in shares of Oclaro during the second quarter worth about $6,731,000. 62.49% of the stock is owned by institutional investors and hedge funds.
Oclaro, Inc is a provider of optical components, modules and subsystems for the optical transport, service provider, enterprise and data center markets. The Company supplies optical network technology to telecommunication and data communication equipment companies across the world. The Company designs, manufactures and markets optical components, modules and subsystems that generate, detect, combine and separate light signals in optical communications networks.
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