Viavi Solutions Inc. (NASDAQ:VIAV) Expected to Report Quarterly Sales of $309.83 Million

Brokers expect Viavi Solutions Inc. (NASDAQ:VIAV – Get Rating) to post sales of $309.83 million for the current quarter, reports Zacks Investment Research. Three analysts provided earnings estimates for Viavi Solutions. The lowest sales estimate is $309.00 million and the highest is $310.79 million. Viavi Solutions recorded sales of $303.40 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.1%. The company is expected to release its next quarterly earnings report on Monday, January 1.

On average, analysts expect Viavi Solutions to report annual revenue of $1.27 billion in the current fiscal year, with estimates ranging from $1.26 billion to $1.28 billion. For the next fiscal year, analysts expect the company to post sales of $1.33 billion, with estimates ranging from $1.30 billion to $1.35 billion. Zacks Investment Research sales calculations are an average based on a survey of research companies that cover Viavi solutions.

Viavi Solutions (NASDAQ:VIAV – Get Rating) last reported results on Thursday, February 3. The communications equipment provider reported earnings per share of $0.20 for the quarter, beating the Zacks consensus estimate of $0.14 by $0.06. The company posted revenue of $314.80 million in the quarter, compared to analyst estimates of $303.60 million. Viavi Solutions posted a negative net margin of 0.82% and a positive return on equity of 20.49%. In the same quarter of the previous year, the company achieved EPS of $0.18.

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Revenues and share prices of companies in the telehealth sector have been booming since the COVID-19 pandemic. A company saw its share price nearly double in just 16 weeks. Another telehealth company’s share price soared 48% in just 12 weeks.

CNBC headlines scream “Digital health stocks rise because we’re suddenly in the future.”

VIAV has been the subject of a number of research analyst reports. B. Riley raised his price target on Viavi Solutions shares from $19.50 to $21.00 in a Friday, Feb. 4 research report. TheStreet downgraded shares of Viavi Solutions from a “b” rating to a “c+” rating in a Wednesday, March 9 report. JPMorgan Chase & Co. raised its price target on shares of Viavi Solutions from $18.00 to $19.00 in a Thursday, January 20 report. Finally, StockNews.com began covering Viavi Solutions shares in a Thursday, March 31 report. They set a “Strong Buy” rating on the stock. Two analysts gave the stock a hold rating, two gave the stock a buy rating and one gave the stock a high buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $20.50.

Separately, SVP Luke M. Scrivanich sold 6,690 shares of the company in a trade that took place on Wednesday, March 16. The shares were sold at an average price of $15.75, for a total transaction of $105,367.50. The sale was disclosed in a document filed with the SEC, which is available via this hyperlink. Additionally, Executive Vice President Paul Mcnab sold 6,576 shares of the company in a transaction that took place on Monday, February 14. The stock was sold at an average price of $16.75, for a total transaction of $110,148.00. The disclosure of this sale can be found here. In the past three months, insiders have sold 17,751 shares of the company worth $290,614. 1.63% of the shares are currently held by insiders.

Hedge funds have recently changed their positions in the business. Tygh Capital Management Inc. increased its position in shares of Viavi Solutions by 1.4% during the third quarter. Tygh Capital Management Inc. now owns 690,214 shares of the communications equipment provider worth $10,864,000 after buying an additional 9,379 shares last quarter. Force Hill Capital Management LP increased its position in shares of Viavi Solutions by 244.7% during the third quarter. Force Hill Capital Management LP now owns 1,196,131 shares of the communications equipment provider worth $18,827,000 after buying an additional 849,131 shares last quarter. Greenwood Capital Associates LLC increased its stake in Viavi Solutions by 6.7% in the third quarter. Greenwood Capital Associates LLC now owns 59,938 shares of the communications equipment provider valued at $943,000 after purchasing an additional 3,759 shares during the period. The Public Sector Pension Investment Board increased its stake in Viavi Solutions by 4.2% in the third quarter. The Public Sector Pension Investment Board now owns 486,709 shares of the communications equipment provider valued at $7,661,000 after purchasing an additional 19,502 shares during the period. Finally, Capital World Investors increased its stake in Viavi Solutions by 3.4% in the third quarter. Capital World Investors now owns 6,032,000 shares of the communications equipment provider valued at $94,944,000 after purchasing an additional 200,000 shares during the period. Institutional investors hold 94.12% of the company’s shares.

Viavi Solutions stock opened Tuesday at $14.79. The company has a market capitalization of $3.40 billion, a price-earnings ratio of -246.42 and a beta of 0.70. The company has a debt ratio of 0.98, a quick ratio of 3.74 and a current ratio of 4.14. Viavi Solutions has a fifty-two week minimum of $14.68 and a fifty-two week maximum of $18.14. The stock’s fifty-day moving average price is $16.19.

About Viavi Solutions (Get a rating)

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