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

Wall Street analysts forecast that Exfo Inc (NASDAQ:EXFO) (TSE:EXF) will post sales of $55.50 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Exfo’s earnings. The highest sales estimate is $56.00 million and the lowest is $55.00 million. Exfo reported sales of $73.59 million in the same quarter last year, which indicates a negative year over year growth rate of 24.6%. The business is expected to announce its next quarterly earnings report 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 financial year, with estimates ranging from $247.00 million to $250.90 million. For the next year, analysts forecast that the business will report sales of $278.50 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Exfo.

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

A number of analysts have issued reports on EXFO shares. Northland Securities cut their price objective on shares of Exfo from $5.50 to $4.00 and set an “outperform” rating for the company in a report on Wednesday, April 8th. Zacks Investment Research raised shares of Exfo from a “sell” rating to a “hold” rating in a report on Tuesday, June 9th. CIBC dropped their target price on shares of Exfo from $5.00 to $3.50 and set a “neutral” rating for the company in a research report on Wednesday, April 8th. BMO Capital Markets dropped their target price on shares of Exfo from $5.00 to $3.50 and set a “market perform” rating for the company in a research report on Monday, April 6th. Finally, National Bank Financial dropped their target price on shares of Exfo from $3.75 to $3.00 and set a “sector perform” rating for the company in a research report on Thursday, April 9th. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $3.86.

NASDAQ EXFO traded up $0.07 during 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. The company has a current ratio of 1.34, a quick ratio of 0.85 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $149.72 million, a price-to-earnings ratio of -16.81 and a beta of 1.15. 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.

A number of hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC increased its position 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 worth $28,000 after purchasing an additional 9,000 shares in the last quarter. Renaissance Technologies LLC increased its position 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 worth $5,177,000 after purchasing an additional 7,738 shares in the last quarter. Essex Investment Management Co. LLC increased its position 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 worth $1,716,000 after purchasing an additional 17,146 shares in the last quarter. Finally, FIL Ltd acquired a new position in Exfo during the 4th quarter worth approximately $604,000. Institutional investors and hedge funds 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.

Read More: CBOE Russell 2000® Volatility Index

Get a free copy of the Zacks research report on Exfo (EXFO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Exfo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exfo and related companies with MarketBeat.com's FREE daily email newsletter.