Exfo Inc (NASDAQ:EXFO) Expected to Announce Quarterly Sales of $55.50 Million

Wall Street brokerages expect that Exfo Inc (NASDAQ:EXFO) (TSE:EXF) will post sales of $55.50 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Exfo’s earnings, with the highest sales estimate coming in at $56.00 million and the lowest estimate coming in at $55.00 million. Exfo reported sales of $73.59 million during the same quarter last year, which indicates a negative year over year growth rate of 24.6%. The business is expected to issue its next quarterly earnings results after the market closes on Wednesday, July 8th.

According to Zacks, analysts expect that Exfo will report full year sales of $248.95 million for the current year, with estimates ranging from $247.00 million to $250.90 million. For the next fiscal year, analysts anticipate that the business will report sales of $278.50 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Exfo.

Exfo (NASDAQ:EXFO) (TSE:EXF) last announced its earnings results on Tuesday, April 7th. The communications equipment provider reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.08). Exfo had a positive return on equity of 0.06% and a negative net margin of 3.41%. The business had revenue of $55.31 million during the quarter, compared to analysts’ expectations of $62.20 million.

EXFO has been the topic of a number of research analyst reports. CIBC cut their target price on Exfo from $5.00 to $3.50 and set a “neutral” rating on the stock in a research note on Wednesday, April 8th. Zacks Investment Research upgraded Exfo from a “sell” rating to a “hold” rating in a research note on Tuesday, June 9th. BMO Capital Markets cut their target price on Exfo from $5.00 to $3.50 and set a “market perform” rating on the stock in a research note on Monday, April 6th. TheStreet cut shares of Exfo from a “c-” rating to a “d” rating in a report on Friday, April 17th. Finally, Northland Securities lowered their price target on shares of Exfo from $5.50 to $4.00 and set an “outperform” rating on the stock in a report on Wednesday, April 8th. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $3.86.

Shares of NASDAQ EXFO traded up $0.07 during midday trading on Friday, reaching $2.76. The company’s stock had a trading volume of 1,403 shares, compared to its average volume of 29,200. Exfo has a 12-month low of $2.00 and a 12-month high of $4.95. The firm has a 50 day moving average price of $2.69 and a 200-day moving average price of $3.32. The stock has a market capitalization of $149.72 million, a P/E ratio of -16.81 and a beta of 1.15. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.34 and a quick ratio of 0.85.

Hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC raised its holdings in Exfo by 409.1% during the 1st quarter. Acadian Asset Management LLC now owns 11,200 shares of the communications equipment provider’s stock valued at $28,000 after acquiring an additional 9,000 shares during the period. Renaissance Technologies LLC raised its holdings in Exfo by 0.7% during the 4th quarter. Renaissance Technologies LLC now owns 1,119,578 shares of the communications equipment provider’s stock valued at $5,177,000 after acquiring an additional 7,738 shares during the period. Essex Investment Management Co. LLC raised its holdings in Exfo by 4.8% during the 4th quarter. Essex Investment Management Co. LLC now owns 371,198 shares of the communications equipment provider’s stock valued at $1,716,000 after acquiring an additional 17,146 shares during the period. Finally, FIL Ltd bought a new stake in Exfo during the 4th quarter valued at $604,000. 11.15% of the stock is currently owned by institutional investors and hedge funds.

Exfo Company Profile

EXFO Inc develops, manufactures, and markets smarter network test, monitoring, and analytics solutions for communications service providers, network equipment manufacturers, and Web-scale operators. It offers field network testing products, such as copper/DSL testing, dispersion analysis, fiber inspection, live fiber detection, network protocol testing, optical power and loss testing, ORL tester, optical time domain reflectometry and iOLM, spectral testing, test function virtualization, and test reporting and automation products, as well as modular test platforms.

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