Brokerages Expect Exfo Inc (NASDAQ:EXFO) Will Post Quarterly Sales of $55.50 Million

Equities analysts expect that Exfo Inc (NASDAQ:EXFO) (TSE:EXF) will announce sales of $55.50 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Exfo’s earnings. The lowest sales estimate is $55.00 million and the highest is $56.00 million. Exfo posted sales of $73.59 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 24.6%. The firm 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 fiscal year, with estimates ranging from $247.00 million to $250.90 million. For the next fiscal year, analysts anticipate that the company will report sales of $278.50 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Exfo.

Exfo (NASDAQ:EXFO) (TSE:EXF) last released its quarterly earnings results on Tuesday, April 7th. The communications equipment provider reported ($0.12) earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $62.20 million.

Several equities research analysts recently weighed in on the stock. Northland Securities reduced their price target on shares of Exfo from $5.50 to $4.00 and set an “outperform” rating for the company in a research report on Wednesday, April 8th. BMO Capital Markets reduced their price target 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. CIBC reduced their price target 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. TheStreet downgraded shares of Exfo from a “c-” rating to a “d” rating in a research report on Friday, April 17th. Finally, National Bank Financial reduced their price target 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 investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $3.86.

A number of hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its holdings in Exfo by 0.7% in the fourth 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 during the last quarter. Essex Investment Management Co. LLC boosted its holdings 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 worth $1,716,000 after purchasing an additional 17,146 shares during the last quarter. FIL Ltd purchased a new stake in Exfo in the fourth quarter worth approximately $604,000. Finally, Acadian Asset Management LLC boosted its holdings 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 worth $28,000 after purchasing an additional 9,000 shares during the last quarter. Institutional investors own 11.15% of the company’s stock.

Shares of NASDAQ EXFO traded up $0.07 on Friday, reaching $2.76. 1,403 shares of the company’s stock traded hands, 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 business’s 50 day simple moving average is $2.69 and its two-hundred day simple moving average is $3.32. The company has a market cap of $149.72 million, a price-to-earnings ratio of -16.81 and a beta of 1.15. The company has a quick ratio of 0.85, a current ratio of 1.34 and a debt-to-equity ratio of 0.01.

About Exfo

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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