Viavi Solutions (NASDAQ:VIAV) posted its quarterly earnings data on Thursday. The communications equipment provider reported $0.13 EPS for the quarter, topping the consensus estimate of $0.10 by $0.03, MarketWatch Earnings reports. Viavi Solutions had a positive return on equity of 15.82% and a negative net margin of 3.76%. The firm had revenue of $265.20 million for the quarter, compared to the consensus estimate of $259.86 million. During the same quarter last year, the company earned $0.13 earnings per share. The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. Viavi Solutions updated its Q4 guidance to $0.14-$0.16 EPS.
Shares of VIAV opened at $13.28 on Friday. The company has a market cap of $3.04 billion, a P/E ratio of 39.06 and a beta of 0.90. Viavi Solutions has a 12-month low of $9.12 and a 12-month high of $13.59. The company has a debt-to-equity ratio of 0.80, a quick ratio of 2.70 and a current ratio of 2.99.
In related news, SVP Luke M. Scrivanich sold 4,810 shares of Viavi Solutions stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $13.29, for a total transaction of $63,924.90. Following the sale, the senior vice president now owns 45,456 shares of the company’s stock, valued at approximately $604,110.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 6,915 shares of company stock worth $91,685 in the last three months. 0.50% of the stock is owned by corporate insiders.
Several research analysts have recently commented on the company. Zacks Investment Research raised Viavi Solutions from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research note on Saturday, February 9th. BidaskClub downgraded Viavi Solutions from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 5th. TheStreet raised Viavi Solutions from a “c” rating to a “b-” rating in a research note on Wednesday, February 6th. ValuEngine raised Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Finally, JPMorgan Chase & Co. raised Viavi Solutions from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $12.00 to $13.00 in a research note on Monday, April 22nd. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $12.99.
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Viavi Solutions Company Profile
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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