3 Stocks to Watch on Friday: Cooper Companies Inc (COO), Finisar Corporation (FNSR) and United Natural Foods, Inc. (UNFI)

Yesterday saw President Donald Trump officially reveal the aluminum and steel tariffs that were being considered last week of 10% and 25% respectively, sending shares higher. The S&P 500 Index gained 0.5%, while the Dow Jones Industrial Average and Nasdaq Composite surged 0.4% apiece.

3 Stocks to Watch on Friday: Cooper Companies Inc (COO), Finisar Corporation (FNSR) and United Natural Foods, Inc. (UNFI)Several companies reported their quarterly earnings data late Thursday, including Cooper Companies Inc (NYSE:COO), Finisar Corporation (NASDAQ:FNSR) and United Natural Foods, Inc. (NASDAQ:UNFI).

Here’s how they did:

Cooper Companies Inc (COO)

Cooper Companies shares were slightly higher following the company’s after-hours earnings report.

The global medical device company reported fiscal first-quarter adjusted earnings of $2.79 per share, marking a 45% increase compared to the year-ago quarter. Analysts polled by Thomson Reuters were calling for adjusted earnings of $2.51 per share.

Cooper Companies’ revenue for the first quarter was up 18% compared to the year-ago quarter, reaching $590 million. Analysts were projecting revenue of $583.48 million. Sales were up 4% on a pro forma basis.

The CooperVision brand saw its revenue gain 14% year-over-year to $444.8 million, while the company’s surgical arm posted revenue of $145.2 million, a 32% increase year-over-year.

For its fiscal 2018, the company now sees its adjusted earnings in the range of $11.70 to $11.90 per share, while its total revenue is slated to be in the range of $2.51 billion to $2.56 billion.

COO stock edged 0.6% higher after Thursday’s market close.

Finisar Corporation (FNSR)

Finisar also reported for its latest period late Thursday.

The optical subsystems and components provider unveiled a net loss of $55.7 million for its third quarter, or 49 cents per share. On an adjusted basis, the company earned 20 cents per share, below its year-ago adjusted earnings of 59 cents per share.

Finisar’s revenue amounted to $332.4 million, a slight increase compared to its year-ago quarterly revenue of $332.2 million. The Wall Street consensus estimate called for revenue of $333.2 million.

For its fourth quarter, the company sees its adjusted earnings as being in the range of 9 cents to 15 cents per share. Analysts see this figure as being roughly 21 cents per share in their midpoint guidance.

Finisar also forecasts its revenue to be lower than in the previous quarter, as it is slated to be in the range of $300 million to $320 million. Wall Street is calling for sales of $332 million in fourth-quarter revenue.

FNSR shares plummeted nearly 7.2% after the bell.

United Natural Foods, Inc. (UNFI)

United Natural Foods reported its latest quarterly earnings results late Thursday.

The natural and organic food retailer announced second-quarter revenue of $2.53 billion, a 10.6% gain from its year-ago total of $2.29 billion. Adjusted earnings came in at 71 cents per share, excluding a one-time benefit linked to the changes in the U.S. tax code.

For its fiscal 2018, United Natural Foods is projecting net sales to be in the range of $10.01 billion to $10.16 billion, compared to its previous net sales estimate of $9.84 billion to $10 billion.

Adjusted earnings are slated to be in the range of $3.06 to $3.14 per share for its fiscal 2018, which would mark a gain of 19.5% to 22.7% over its fiscal 2017 earnings per diluted common share.

UNFI stock was trading flat after the bell.

As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2018/03/3-stocks-watch-friday-cooper-companies-inc-coo-finisar-corporation-fnsr-united-natural-foods-inc-unfi/.

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