Viavi Solutions (NASDAQ:VIAV) Issues FY 2023 Earnings Guidance

Viavi Solutions (NASDAQ:VIAVGet Rating) issued an update on its FY 2023 earnings guidance on Wednesday morning. The company provided EPS guidance of $0.90-$1.00 for the period, compared to the consensus EPS estimate of $0.96. The company issued revenue guidance of $1.26 billion-$1.33 billion, compared to the consensus revenue estimate of $1.31 billion.

Viavi Solutions Stock Down 1.7 %

NASDAQ VIAV traded down $0.22 during trading on Friday, hitting $13.07. The stock had a trading volume of 77,088 shares, compared to its average volume of 1,862,285. The company has a market capitalization of $2.96 billion, a PE ratio of 265.80 and a beta of 0.77. The company’s 50-day moving average price is $14.54 and its two-hundred day moving average price is $14.59. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.42 and a current ratio of 2.72. Viavi Solutions has a 12 month low of $12.65 and a 12 month high of $18.14.

Viavi Solutions (NASDAQ:VIAVGet Rating) last released its earnings results on Thursday, August 11th. The communications equipment provider reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. The firm had revenue of $335.30 million for the quarter, compared to analysts’ expectations of $320.62 million. Viavi Solutions had a return on equity of 23.68% and a net margin of 1.20%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.16 EPS. As a group, sell-side analysts forecast that Viavi Solutions will post 0.78 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on VIAV. Morgan Stanley upped their price objective on Viavi Solutions from $16.00 to $17.00 and gave the stock an equal weight rating in a research note on Wednesday, September 14th. JPMorgan Chase & Co. decreased their price objective on Viavi Solutions from $18.00 to $15.00 and set a neutral rating on the stock in a report on Thursday, July 14th. Susquehanna decreased their price objective on Viavi Solutions from $20.00 to $18.00 and set a positive rating on the stock in a report on Friday, August 12th. StockNews.com raised Viavi Solutions from a buy rating to a strong-buy rating in a report on Monday, August 15th. Finally, Needham & Company LLC lowered Viavi Solutions from a buy rating to a hold rating in a report on Tuesday, July 19th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $17.80.

Hedge Funds Weigh In On Viavi Solutions

Large investors have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd bought a new position in shares of Viavi Solutions during the first quarter worth about $628,000. Verition Fund Management LLC acquired a new stake in Viavi Solutions during the first quarter worth approximately $603,000. Graham Capital Management L.P. acquired a new stake in Viavi Solutions during the first quarter worth approximately $454,000. United Services Automobile Association acquired a new stake in Viavi Solutions during the second quarter worth approximately $326,000. Finally, Captrust Financial Advisors grew its stake in Viavi Solutions by 102.1% during the first quarter. Captrust Financial Advisors now owns 16,388 shares of the communications equipment provider’s stock worth $264,000 after purchasing an additional 8,280 shares during the period. 92.83% of the stock is currently owned by institutional investors.

About Viavi Solutions

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Viavi Solutions Inc provides network test, monitoring, and assurance solutions to communications service providers, enterprises, network equipment manufacturers, original 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.

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