Viavi Solutions (NASDAQ:VIAV - Get Free Report) issued an update on its fourth quarter 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 0.060-0.080 for the period, compared to the consensus estimate of 0.110. The company issued revenue guidance of $246.0 million-$258.0 million, compared to the consensus revenue estimate of $264.4 million.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on VIAV. Susquehanna lowered shares of Viavi Solutions from a positive rating to a neutral rating and set a $9.00 target price for the company. in a research note on Friday. Rosenblatt Securities lowered their target price on shares of Viavi Solutions from $13.00 to $10.00 and set a buy rating for the company in a research note on Friday. Northland Securities upped their price objective on shares of Viavi Solutions from $12.00 to $17.00 and gave the stock an outperform rating in a research note on Wednesday, March 6th. Morgan Stanley increased their price target on shares of Viavi Solutions from $9.00 to $11.00 and gave the company an equal weight rating in a research report on Wednesday, March 6th. Finally, StockNews.com upgraded shares of Viavi Solutions from a hold rating to a buy rating in a report on Friday, April 12th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $12.00.
Read Our Latest Research Report on VIAV
Viavi Solutions Trading Down 5.7 %
Shares of NASDAQ:VIAV traded down $0.46 during midday trading on Friday, reaching $7.56. 4,038,127 shares of the company's stock were exchanged, compared to its average volume of 2,084,735. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 373.00 and a beta of 0.97. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.09 and a quick ratio of 2.72. The firm's 50 day simple moving average is $9.16 and its two-hundred day simple moving average is $9.04. Viavi Solutions has a fifty-two week low of $7.10 and a fifty-two week high of $11.65.
Viavi Solutions (NASDAQ:VIAV - Get Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). The company had revenue of $246.00 million during the quarter, compared to analysts' expectations of $249.08 million. Viavi Solutions had a net margin of 0.49% and a return on equity of 5.38%. The business's quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.02 EPS. As a group, sell-side analysts forecast that Viavi Solutions will post 0.22 EPS for the current fiscal year.
Insider Buying and Selling
In related news, EVP Paul Mcnab sold 15,004 shares of the business's stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $10.62, for a total transaction of $159,342.48. Following the completion of the sale, the executive vice president now owns 57,940 shares in the company, valued at $615,322.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Kevin Christopher Siebert sold 13,967 shares of the business's stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $10.70, for a total value of $149,446.90. Following the transaction, the senior vice president now owns 47,097 shares of the company's stock, valued at $503,937.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Paul Mcnab sold 15,004 shares of the business's stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $10.62, for a total value of $159,342.48. Following the completion of the transaction, the executive vice president now directly owns 57,940 shares in the company, valued at approximately $615,322.80. The disclosure for this sale can be found here. 1.80% of the stock is owned by company insiders.
About Viavi Solutions
(
Get Free Report)
Viavi Solutions Inc provides network test, monitoring, and assurance solutions for communications service providers, hyperscalers, network equipment manufacturers, original equipment manufacturers, government, and avionics customers in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa.
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