Zacks: Analysts Expect Exfo Inc (NASDAQ:EXFO) Will Announce Quarterly Sales of $55.50 Million

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

On average, 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 forecast that the business will post sales of $278.50 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Exfo.

Exfo (NASDAQ:EXFO) (TSE:EXF) last released its quarterly earnings data on Tuesday, April 7th. The communications equipment provider reported ($0.12) earnings per share for the quarter, missing the Zacks’ consensus estimate 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 company had revenue of $55.31 million for the quarter, compared to analyst estimates of $62.20 million.

EXFO has been the subject of several analyst reports. National Bank Financial lowered their price objective on Exfo from $3.75 to $3.00 and set a “sector perform” rating for the company in a research report on Thursday, April 9th. Zacks Investment Research raised Exfo from a “sell” rating to a “hold” rating in a research report on Tuesday, June 9th. BMO Capital Markets decreased their price objective on Exfo from $5.00 to $3.50 and set a “market perform” rating for the company in a research report on Monday, April 6th. Northland Securities decreased their price objective on Exfo from $5.50 to $4.00 and set an “outperform” rating for the company in a research report on Wednesday, April 8th. Finally, TheStreet downgraded Exfo from a “c-” rating to a “d” rating in a research note on Friday, April 17th. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $3.86.

NASDAQ EXFO traded up $0.07 during trading hours on Friday, hitting $2.76. 1,403 shares of the company were exchanged, compared to its average volume of 29,200. The company has a 50 day moving average of $2.69 and a two-hundred day moving average of $3.32. The company has a quick ratio of 0.85, a current ratio of 1.34 and a debt-to-equity ratio of 0.01. Exfo has a 52-week low of $2.00 and a 52-week high of $4.95. The firm has a market cap of $149.72 million, a price-to-earnings ratio of -16.81 and a beta of 1.15.

Hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC boosted its stake in Exfo by 409.1% in the first 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. FIL Ltd acquired a new position in Exfo in the fourth quarter valued at approximately $604,000. Essex Investment Management Co. LLC boosted its stake in Exfo by 4.8% in the fourth 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, Renaissance Technologies LLC boosted its position in shares of Exfo by 0.7% during the fourth quarter. Renaissance Technologies LLC now owns 1,119,578 shares of the communications equipment provider’s stock worth $5,177,000 after buying an additional 7,738 shares during the period. Institutional investors own 11.15% of the company’s stock.

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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