B. Riley Weighs in on Oclaro Inc.’s Q2 2017 Earnings (OCLR)
Oclaro Inc. (NASDAQ:OCLR) – B. Riley lowered their Q2 2017 earnings estimates for Oclaro in a note issued to investors on Thursday. B. Riley analyst D. Kang now forecasts that the firm will post earnings per share of $0.09 for the quarter, down from their prior estimate of $0.10. B. Riley currently has a “Buy” rating and a $11.00 target price on the stock. B. Riley also issued estimates for Oclaro’s Q4 2017 earnings at $0.09 EPS and FY2017 earnings at $0.34 EPS.
Several other equities analysts have also recently issued reports on OCLR. Piper Jaffray Cos. boosted their price target on shares of Oclaro to $7.50 in a research report on Wednesday, August 3rd. Vetr downgraded shares of Oclaro from a “strong-buy” rating to a “buy” rating and set a $8.25 target price on the stock. in a research note on Monday, August 22nd. MKM Partners upped their target price on shares of Oclaro from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, August 3rd. Stifel Nicolaus upped their target price on shares of Oclaro from $6.50 to $7.50 and gave the stock a “buy” rating in a research note on Wednesday, August 3rd. Finally, TheStreet upgraded shares of Oclaro from a “hold” rating to a “buy” rating in a research note on Wednesday, August 3rd. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $8.86.
Oclaro (NASDAQ:OCLR) traded up 0.060% during mid-day trading on Monday, reaching $8.395. The company had a trading volume of 764,915 shares. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 107.628 and a beta of 1.82. Oclaro has a 12-month low of $2.37 and a 12-month high of $9.34. The firm has a 50-day moving average price of $8.48 and a 200 day moving average price of $6.09.
Oclaro (NASDAQ:OCLR) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.05. The business earned $125.20 million during the quarter, compared to the consensus estimate of $119.41 million. Oclaro had a return on equity of 6.24% and a net margin of 2.10%. Oclaro’s quarterly revenue was up 52.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.06) earnings per share.
In related news, insider Adam Carter sold 19,506 shares of the firm’s stock in a transaction 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 $1,215,504. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lisa Paul sold 9,363 shares of the firm’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $7.69, for a total transaction of $72,001.47. Following the transaction, the executive vice president now directly owns 218,264 shares of the company’s stock, valued at $1,678,450.16. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Algert Global LLC boosted its position in Oclaro by 32.6% in the third quarter. Algert Global LLC now owns 36,846 shares of the company’s stock valued at $315,000 after buying an additional 9,054 shares during the last quarter. Cupps Capital Management LLC bought a new position in Oclaro during the third quarter valued at $1,589,000. Front Street Capital Management Inc. bought a new position in Oclaro during the second quarter valued at $3,025,000. Wolverine Asset Management LLC bought a new position in Oclaro during the second quarter valued at $610,000. Finally, CI Investments Inc. bought a new position in Oclaro during the second quarter valued at $2,179,000. 62.49% of the stock is owned by institutional investors.
Oclaro Company Profile
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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